5 Best Food Dividend Stocks to Buy Now

4. Kellogg Company (NYSE:K)

Dividend Yield as of November 2: 3.11%

Kellogg Company (NYSE:K) is an American multinational food manufacturing company that mainly specializes in cereals and snacks. In Q3 2022, the company reported a 13% growth in its organic sales, and its revenue came in at $4 billion. Its operating cash flow came in at $1.18 billion, up from $1.14 billion from the prior-year quarter. During the quarter, it paid $596 million to shareholders in dividends.

On October 28, Kellogg Company (NYSE:K) declared a quarterly dividend of $0.59 per share. The company has been making regular dividend payments to shareholders since 1925, which makes it one of the best dividend stocks on our list. Moreover, it has been raising its dividends consistently for the past 18 years. As of November 2, the stock has a dividend yield of 3.11%.

In August, RBC Capital raised its price target on Kellogg Company (NYSE:K) to $71 with a Sector Perform rating on the shares, highlighting the company’s consistent performance this year.

The number of hedge funds tracked by Insider Monkey owning stakes in Kellogg Company (NYSE:K) grew to 25 in Q2 2022, from 22 in the previous quarter. These stakes have a total value of over $340.7 million.