5 Blue Chip Stocks with Dividends

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

Number of Hedge Fund Holders: 70

Dividend Yield (as of March 21): 2.90%

Then there’s The Coca-Cola Company (NYSE:KO), a dividend aristocrat which has raised its dividend payout for 60 consecutive years. The Atlanta-based firm’s namesake Coca-Cola soft drink beverage is a staple around the world.

The Coca-Cola Company (NYSE:KO) disclosed earnings per share of $0.45 for the fourth quarter, beating consensus estimates by $0.04. Revenue for the fourth quarter came in at $9.47 billion, outperforming analysts’ estimates by $579.32 million and signaling a 10.08% jump from the year-ago period.

Investors realize the value of holding blue-chip stocks such as The Coca-Cola Company (NYSE:KO) which have a history of paying dividends, as 70 hedge funds were long on the company shares in the fourth quarter, as compared to 61 hedge funds in Q3 2021. Warren Buffett’s Berkshire Hathaway is a long-time shareholder of  The Coca-Cola Company (NYSE:KO), holding 400 million shares valued at $23.68 billion during the fourth quarter.

On February 15, Evercore ISI analyst Robert Ottenstein kept an ‘Outperform’ rating on The Coca-Cola Company (NYSE:KO) shares, and bumped the price target to $70 from $63, noting that he sees the firm continuing to improve its long-term outlook and business model.