5 Best Dividend Stocks According to Richard Chilton’s Chilton Investment Company

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

Dividend Yield as of May 20: 2.89%
Number of Hedge Fund Holders: 70
Chilton Investment Company’s Stake Value: $2,905,000

An American beverage company, The Coca-Cola Company (NYSE:KO) got the investors’ attention after it announced an 18% growth in its organic sales in Q1 2022, versus the analysts’ expectations of 9%. The stock is up 2.83% for 2022 so far.

Following the strong Q1 results, Wall Street analysts have presented a positive stance on The Coca-Cola Company (NYSE:KO). In April, both Truist and Cowen lifted their price targets on the stock to $75 and $68, respectively. In Q1 2022, Chilton Investment Company increased its position in The Coca-Cola Company (NYSE:KO) by 84% and held shares worth roughly $3 million. The company accounted for 0.06% of Richard Chilton’s portfolio.

In February, The Coca-Cola Company (NYSE:KO) announced a 4.8% increase in its annual dividend and pays a quarterly dividend of $0.44 per share. The company has maintained a 60-year track record of consistent dividend growth. The stock’s dividend yield, as of May 20, stood at 2.89%.

As per Insider Monkey’s Q4 2021 data, 70 elite funds held stakes in The Coca-Cola Company (NYSE:KO), up from 61 in the previous quarter. These stakes hold a consolidated value of over $28.6 billion.

ClearBridge Investments mentioned The Coca-Cola Company (NYSE:KO) in its Q4 2021 investor letter. Here is what the firm has to say:

“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.”