5 Best Dividend Kings to Buy Now According to Hedge Funds

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

Number of Hedge Fund Holders: 61
Number of Years of Consistent Dividend Growth: 59
Dividend Yield: 3.05%

The Coca-Cola Company (NYSE: KO) is a beverage company operating globally. The company’s major brands include the Coca-Cola and Fanta brands, among others, and it ranks 3rd on our list of the best dividend kings to buy now according to hedge funds.

This July, Deutsche Bank raised its price target on The Coca-Cola Company (NYSE: KO) shares from the previous $57 to $58. Morgan Stanley also raised its price target on the company’s shares to $64 in June, keeping an Overweight rating on the stock. Analyst Dara Mohsenian commented that the company can be expected to undergo recovery in sales throughout 2022, surpassing consensus forecasts.

In the first quarter of 2021, The Coca-Cola Company (NYSE: KO) had an EPS of $0.55, beating estimates by $0.05. The company’s revenue for the quarter was $9.02 billion, up 5.2% year over year and beating estimates by $388.98 million. The Coca-Cola Company (NYSE: KO) has gained 11.76% in the past 6 months and 4.28% year to date.

By the end of the first quarter of 2021, 61 hedge funds out of the 866 tracked by Insider Monkey held stakes in The Coca-Cola Company (NYSE: KO) worth roughly $24.9 billion. This is compared to 62 hedge funds in the previous quarter with a total stake value of about $24.6 billion.