5 Dividend Achievers to Buy in 2022

4. The Hershey Company (NYSE:HSY)

Dividend Yield as of May 10: 1.61%

Number of Hedge Fund Holders: 37

Number of Years of Consecutive Dividend Increases: 13

The Hershey Company (NYSE:HSY) is a Pennsylvania-based company that offers chocolate and non-chocolate confectionery snacks under the Hershey’s, Reese’s, Almond Joy, Cadbury, Kit Kat, Rolo, and Twizzlers brands, among others. The Hershey Company (NYSE:HSY) has a dividend history consisting of 13 years of consecutive dividend growth. 

The Hershey Company (NYSE:HSY) reported its financial results for Q1 2022 on April 28, posting earnings per share of $2.53, exceeding estimates by $0.43. The revenue grew 16.13% year-over-year to $2.67 billion, outperforming consensus forecasts by $179.75 million. 

On April 28, The Hershey Company (NYSE:HSY) declared a quarterly dividend of $0.901 per share. The dividend is distributable on June 15, to shareholders of the company as of May 20. The Hershey Company (NYSE:HSY)’s dividend yield on May 10 stood at 1.61%. 

RBC Capital analyst Nik Modi on April 29 maintained an Outperform rating on The Hershey Company (NYSE:HSY) and raised the firm’s price target on the stock to $237 from $214. The company announced “impressive” Q1 results and increased guidance despite a worse inflation outlook, the analyst told investors. He added that if elasticities hold up well through the year, he sees upside for The Hershey Company (NYSE:HSY) shares.

According to the Q4 database of Insider Monkey, 37 hedge funds were bullish on The Hershey Company (NYSE:HSY), up from 33 funds in the preceding quarter. Jim Simons’ Renaissance Technologies is the leading shareholder of the company, with a position worth $616 million.