5 Best Consumer Staples Dividend Stocks to Buy Now

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

Dividend Yield as of November 8: 2.96%

The Coca-Cola Company (NYSE:KO) is an American multinational manufacturer and marketer of non-alcoholic beverages and syrups. In Q3 2022, the company reported a 3% growth in its global unit case volume. Its operating cash flow came in at $8.1 billion year-to-date and its free cash flow for the period stood at $7.3 billion. The company generated over $11 billion in revenues during the quarter, which showed an 11% growth from the same period last year.

On October 20, The Coca-Cola Company (NYSE:KO) declared a quarterly dividend of $0.44 per share, in line with its previous dividend. The company holds one of the longest dividend growth track records of 60 years, which makes it one of the best dividend stocks on our list. As of November 8, the stock has a dividend yield of 2.96%.

UBS raised its price target on The Coca-Cola Company (NYSE:KO) in October to $68 and maintained a Buy rating on the shares, calling the company’s Q3 earnings ‘impressive’. The firm mentioned that the company has the potential for stronger revenue growth.

At the end of the June quarter, 60 hedge funds in Insider Monkey’s database owned stakes in The Coca-Cola Company (NYSE:KO), down from 64 in the previous quarter. These stakes have a total value of over $28.3 billion. With 400 million shares, Berkshire Hathaway was the company’s leading stakeholder in Q2.

Aristotle Capital Management, LLC mentioned The Coca-Cola Company (NYSE:KO) in its Q2 2022 investor letter. Here is what the firm has to say:

“The Coca-Cola Company (NYSE:KO), the global beverage business, was a leading contributor for the period. Coca-Cola continues to benefit from the refranchising of its bottling operations and realignment of incentives, catalysts we previously identified. These initiatives are demonstrating their strength in an inflationary and supply-chain-challenged environment. Additionally, the company has focused on evolving its customer engagement practices by leveraging digital and social medias for targeted campaigns, such as the design and launch of Coke Byte in the metaverse. Lastly, Coca-Cola has furthered its transformation into a total beverage company, as it debuted its new Jack Daniel’s Tennessee Whiskey and Coca-Cola ready-to-drink premixed cocktail. Although uncertainties surrounding cost pressures, lockdowns and geopolitical conflicts remain, we believe Coca-Cola is uniquely positioned to successfully continue its transition toward a total beverage business.”