10 Best Defensive Stocks to Buy According to Steve Cohen

3. The Coca-Cola Company (NYSE:KO)

Point72 Asset Management Equity Stake: $243.86 Million

Number of Hedge Fund Holders: 84

The Coca-Cola Company (NYSE:KO) is one of the best defensive stocks to buy, according to Steve Cohen. On September 3 at the Barclays 18th Annual Global Consumer Staples Conference 2025, the company reiterated plans to focus on innovation and digital transformation.

The beverage giant is prioritizing digital transformation as it looks to bolster its competitive edge in the industry. Consequently, it will leverage its franchise model and digital technologies to enhance brand awareness. It also plans to leverage technology, data, and artificial intelligence to improve consumer experiences. The push is part of an effort to bolster customer engagement, drive sales, and enhance operational efficiency.

Additionally, the company reiterated its commitment to pursuing growth opportunities in emerging markets. Its long-term plan is to boost its commercial beverage market share by 0.5 points in the developing regions.  Coca-Cola is also planning significant investments in capital expenditures as it looks to secure long-term growth.

The Coca-Cola Company (NYSE:KO) manufactures and sells beverages, including its signature Coca-Cola soft drink, along with a wide range of other drinks like water, juices, coffees, teas, and alcohol-based beverages. The company operates a system of local bottlers that produce and distribute finished products from its concentrates and syrups to consumers.