Billionaire Ray Dalio’s Top 5 Dividend Stocks

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

Bridgewater Associates’ Stake Value: $642,397,000
Dividend Yield as of November 16: 2.90%

An American multinational beverage company, The Coca-Cola Company (NYSE:KO) has been a part of Bridgewater Associates’ 13F portfolio since the fourth quarter of 2010. In the most recent quarter, the hedge fund increased its KO stake by 6%, which takes its total stake in the company to over $642.3 million. The company accounted for 3.25% of billionaire Ray Dalio’s portfolio.

The Coca-Cola Company (NYSE:KO) pays a quarterly dividend of $0.44 per share for a dividend yield of 2.90%, as of November 16. The company maintains a 60-year track record of consistent dividend growth, falling into the category of Dividend Kings.

In October, UBS acknowledged the organic growth and recent quarterly earnings of The Coca-Cola Company (NYSE:KO) and raised its price target on the stock to $68 while maintaining a Buy rating on the shares.

At the end of the June quarter, 60 hedge funds in Insider Monkey’s database owned stakes in The Coca-Cola Company (NYSE:KO), down from 64 in the previous quarter. These stakes have a total value of over $28.3 billion.

Aristotle Capital Management, LLC mentioned The Coca-Cola Company (NYSE:KO) in its Q2 2022 investor letter. Here is what the firm has to say:

“The Coca-Cola Company (NYSE:KO), the global beverage business, was a leading contributor for the period. Coca-Cola continues to benefit from the refranchising of its bottling operations and realignment of incentives, catalysts we previously identified. These initiatives are demonstrating their strength in an inflationary and supply-chain-challenged environment. Additionally, the company has focused on evolving its customer engagement practices by leveraging digital and social medias for targeted campaigns, such as the design and launch of Coke Byte in the metaverse. Lastly, Coca-Cola has furthered its transformation into a total beverage company, as it debuted its new Jack Daniel’s Tennessee Whiskey and Coca-Cola ready-to-drink premixed cocktail. Although uncertainties surrounding cost pressures, lockdowns and geopolitical conflicts remain, we believe Coca-Cola is uniquely positioned to successfully continue its transition toward a total beverage business.”