5 Stocks that Helped Warren Buffett Make $4.6 Billion in Dividends

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

Number of Hedge Fund Holders: 62
Dividend Yield: 2.97%
Dividend Income Contributed: $672 million

The Coca-Cola Company (NYSE: KO) is a beverage company operating across the world to provide non-alcoholic drinks to consumers globally. The company ranks 3rd on our list of dividend stocks that helped Warren Buffett make $4.6 billion in dividends. It offers its products under the Coca-Cola, Diet Coke/Coca-Cola Light, Fanta, and Fresca brands, among others.

Near the end of this July, Bill Chappell, an analyst at Truist, raised his price target on shares of The Coca-Cola Company (NYSE: KO) from $60 to $65. The analyst also reiterated a Buy rating on the stock at the same time.

In the second quarter of 2021, The Coca-Cola Company (NYSE: KO) had an EPS of $0.68, beating estimates by $0.12. The company’s revenue was $10.13 billion, up 41.61% year over year and beating estimates by $823.11 million. The Coca-Cola Company (NYSE: KO) has gained 12.75% in the past 6 months and 7.09% year to date.

By the end of the second quarter of 2021, 62 hedge funds out of the 873 tracked by Insider Monkey held stakes in The Coca-Cola Company (NYSE: KO) worth roughly $25 billion. This is compared to 61 hedge funds in the previous quarter with a total stake value of approximately $25 billion.