5 Consumer Stocks that Pay Dividends

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

Number of Hedge Fund Holders: 70

Dividend Yield (as of March 8): 3.00%

The Coca-Cola Company (NYSE:KO) ranks next on our list of consumer stocks that pay dividends. On February 17, the firm raised its quarterly dividend by 5% from $0.42 to $0.44 per share, marking a 60th consecutive annual dividend increase for the Atlanta-based firm.

Evercore ISI analyst Robert Ottenstein on February 15 raised the price target on The Coca-Cola Company (NYSE:KO) to $70 from $63 and maintained an ‘Outperform’ rating on the firm’s shares. The analyst sees potential for continued sales growth of around 5-6%, steady dividend increases and share buybacks giving impressive returns to shareholders of The Coca-Cola Company (NYSE:KO). According to the analyst, the firm continues to improve its long-term outlook and business model.

The Coca-Cola Company (NYSE:KO) posted earnings per share of $0.45 for the fourth quarter, exceeding estimates by $0.04. Quarterly revenue stood at $9.47 billion, beating analysts’ forecasts by $579.32 million and recording a 10.08% increase from the year-ago period.

70 hedge funds were long The Coca-Cola Company (NYSE:KO) in Q4 2021, as compared to 61 in the preceding quarter, showing growing investor confidence in the company. Warren Buffett’s Berkshire Hathaway held 400 million shares of The Coca-Cola Company (NYSE:KO) in the fourth quarter, valued at $23.68 billion making it the top shareholder of the firm.