5 Consumer Staples Stocks To Buy According To Billionaire Ray Dalio

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

Bridgewater Associates’ Stake Value: $514,581,000

Percentage of Bridgewater Associates’ 13F Portfolio: 2.99%

Number of Hedge Fund Holders: 70

The Coca-Cola Company (NYSE:KO) is a multinational beverage manufacturer and distributor, offering a range of sparkling soft drinks, flavored water, energy and sports drinks, and alcoholic beverages. 

Ray Dalio first invested in The Coca-Cola Company (NYSE:KO) back in Q4 2010, but sold off his stake repeatedly over the years. In Q3 2020, the billionaire purchased shares of The Coca-Cola Company (NYSE:KO), and the stake was elevated in the fourth quarter of 2021 by 4%. The hedge fund held a $514.5 million position in The Coca-Cola Company (NYSE:KO), which accounts for 2.99% of the total Q4 investments. 

On February 17, The Coca-Cola Company (NYSE:KO) declared a $0.44 per share quarterly dividend, a 4.8% increase from its prior dividend of $0.42. The dividend is distributable on April 1, to shareholders of record on March 15. 

Evercore ISI analyst Robert Ottenstein on March 15 lifted the price target on The Coca-Cola Company (NYSE:KO) to $70 from $63 and kept an Outperform rating on the shares, citing different drivers for multiple expansion, including an improved business model, strong product portfolio, positive long-term outlook, and share buybacks driving a double-digit return to shareholders.

Among the hedge funds tracked by Insider Monkey, 70 funds were bullish on The Coca-Cola Company (NYSE:KO) at the end of December 2021, up from 61 funds in the quarter earlier. Berkshire Hathaway is the leading shareholder of The Coca-Cola Company (NYSE:KO), owning 400 million shares worth $23.6 billion.