5 Best Blue Chip Stocks To Buy Right Now

When the market is butchering stocks left and right, The Coca-Cola Company (NYSE:KO) presents a safe haven for investors. The beverage-maker has increased its dividends for almost 6 decades, a testament to its global presence, robust earnings, pricing power and strong brand loyalty. It offers a 2.73% dividend yield as of July 1, and has climbed 19.49% in the last 12 months.

At the end of the first quarter of 2022, Warren Buffett’s Berkshire Hathaway held 400 million shares of The Coca-Cola Company (NYSE:KO) priced at $24.79 billion, making it the firm’s biggest shareholder. In total, 64 hedge funds were bullish on the company shares with aggregate stakes worth $29.17 billion.

Morgan Stanley analyst Mike Wilson recently named The Coca-Cola Company (NYSE:KO) among the list of companies that can upwardly revise their earnings guidance in 2023, despite fears of an incoming recession. He thinks there’s a 29% upside potential to the shares at current levels, and gave the stock an ‘Overweight’ rating.

Investment management firm ClearBridge Investments mentioned The Coca-Cola Company (NYSE:KO) in its fourth-quarter 2021 investor letter. Here’s what they said:

“Over the last year, we have repositioned our portfolio to navigate the course we see ahead. We added to more defensive areas of the portfolio like consumer staples (Coca-Cola). While the next month or two will likely prove choppy on account of the Omicron variant, we believe that Omicron, like Delta, represents a speed bump on the way to recovery rather than a true change in course. We see strong economic momentum continuing in 2022 and we expect interest rates to rise. After a decade of remarkably low rates, we would not be surprised if this change in direction is accompanied by some fits and starts in the markets. With our emphasis on pricing power, purposeful sector exposure, valuation discipline, and a strong dividend profile, we believe we are well-positioned for the year ahead.”