I last touched on The Hershey Company (NYSE:HSY) just over a year ago. The confectionary giant's stock had gotten a little expensive for my liking. Fast forward roughly 15 months later and the stock is virtually trading where it was back then in the mid $140s. The world around us has changed immensely due to Covid, and the company's defensive business model has made it a bit of a "safe haven" for investors looking for stability in these volatile times. While shares are no "bargain", Hershey offers investors a wide moat and reasonable valuation that can be a reliable producer for long-term-minded investors.

The disruption of everyday life caused by Covid has stressed numerous industries across the economy to varying degrees. For a defensive-minded investor, Hershey has remained steady throughout the pandemic for the most part.

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