5 Best Sugar Stocks to Buy Now

3. The Hershey Company (NYSE: HSY)

Number of Hedge Fund Holders: 38

The Hershey Company (NYSE: HSY) is an American manufacturer of food products, especially chocolate and sugar-based confections. The company’s sugar cane supply is sourced from the U.S., Mexico, and Brazil and the sugar beet supply comes from the U.S. In 2020, The Hershey Company (NYSE: HSY) achieved its objective of sourcing 100% sugar from sustainable sources. The company ranks third on our list of the best sugar stocks to buy now.

In Q2 2021, The Hershey Company (NYSE: HSY) posted an EPS of $1.47, beating the consensus by $0.04. The revenue of $1.99 billion is up by 16.4% during the same period last year. On July 29, the company’s board increased the quarterly dividend by 12% at $0.901 per share. Recently, BMO Capital lifted its price target on The Hershey Company (NYSE: HSY) to $181, with an ‘Outperform’ rating on the shares. The firm’s analyst appreciated the company’s solid growth in all segments of confection and improvement in its away-from-home products.

As of Q2 2021, 38 hedge funds tracked by Insider Monkey have positions in The Hershey Company (NYSE: HSY), worth over $1.2 billion. Jim Simons’ Renaissance Technologies is the company’s leading shareholder, with shares worth $556 million.