5 Dividend Kings to Buy for 2022

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In this article, we discuss 5 dividend kings to buy for 2022. If you want our detailed analysis of these stocks, go directly to 10 Dividend Kings to Buy for 2022

5. Lancaster Colony Corporation (NASDAQ:LANC)

Dividend Yield as of January 19: 1.95%

Number of Hedge Fund Holders: 21

Number of Years of Dividend Increases: 59

Lancaster Colony Corporation (NASDAQ:LANC) is an American manufacturer of food products for the retail and foodservice markets. Lancaster Colony Corporation (NASDAQ:LANC) was incorporated in 1961 and is based in Westerville, Ohio.

On November 10, Lancaster Colony Corporation (NASDAQ:LANC) declared a $0.80 per share quarterly dividend, which reflects a 6.7% increase from the prior dividend of $0.75. The dividend was paid on December 31, to shareholders of record on December 6. Lancaster Colony Corporation (NASDAQ:LANC) distributes 54.47% of its net earnings after tax to shareholders. 

Benchmark analyst Todd Brooks initiated coverage of Lancaster Colony Corporation (NASDAQ:LANC) with a Buy rating and a $181 price target on December 8. The analyst expects continued modest growth in owned brands, combined with strong licensed product performance, giving Lancaster Colony Corporation (NASDAQ:LANC) a “highly visible” mid-to-high single digit percentage revenue growth for at least the next several years. 

Among the hedge funds tracked by Insider Monkey, 21 hedge funds in the third quarter of 2021 reported owning stakes in Lancaster Colony Corporation (NASDAQ:LANC), worth $251.2 million, as compared to 18 funds in the preceding quarter, holding stakes amounting to $294.4 million in Lancaster Colony Corporation (NASDAQ:LANC). 

Jim Simons’ Renaissance Technologies is the largest Lancaster Colony Corporation (NASDAQ:LANC) stakeholder, with 405,863 shares valued at $68.5 million. 

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