5 Best Sugar Stocks to Buy Now

3. The Hershey Company (NYSE:HSY)

Number of Hedge Fund Holders: 43

The Hershey Company (NYSE:HSY) is one of the oldest confectionary companies in the world and is headquartered in its namesake Hershey, Pennsylvania. The firm makes and sells chocolates, mints, bubble gums, syrups, and other items.

The Hershey Company (NYSE:HSY) is also one of the largest confectionary companies in the world, as it owns more than 100 brands and operates in close to 80 countries. Over the past ten years, the firm’s earnings per share have grown at a CAGR of 9.8%, which surpasses its own goal of 6%-8% EPS growth annually. It is also succeeding in emerging economies, thought by many to be the next growth pivot for its industry, and reported market shares of 39% in Mexico and 23.9% in India as of the latest figures. The Hershey Company (NYSE:HSY) is also a strong dividend stock, with 12 years of consistent dividend growth.

As of June 2022, out of the 895 hedge funds polled by Insider Monkey, 43 had held a stake in The Hershey Company (NYSE:HSY). Deutsche Bank raised its price target to $227 from $219 in July 2022 following the company’s earnings report.

Jim Simons’s Renaissance Technologies is The Hershey Company (NYSE:HSY)’s largest investor in our database. It owns 3.6 million shares that are worth $789 million.