Jim Cramer is Talking About These 5 Stocks in September

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

Number of Hedge Fund Holders: 60

Cramer mentioned The Coca-Cola Company (NYSE:KO) among his 10 favorite dividend aristocrats to own for the rest of 2022. Jim Cramer said The Coca-Cola Company (NYSE:KO) is a “textbook defensive stock” and he noted that it is one of his top recession picks. Cramer thinks the company’s strong dividend yield can help protect investors’ portfolios in an economic downturn. As of September 9, The Coca-Cola Company (NYSE:KO) is offering a forward dividend yield of 2.84% and has free cash flows of $10.2 billion.

Wall Street sees upside to The Coca-Cola Company (NYSE:KO). On September 6, HSBC analyst Carlos Laboy raised his price target on The Coca-Cola Company (NYSE:KO) to $76 from $72 and reiterated a Buy rating on the shares. On July 27, Deutsche Bank analyst Steve Powers raised his price target on The Coca-Cola Company (NYSE:KO) to $65 from $64 and maintained a Hold rating on the shares.

As of September 9, The Coca-Cola Company (NYSE:KO) has surged 4.76% year to date.

At the end of Q2, 60 hedge funds were long The Coca-Cola Company (NYSE:KO) and held stakes worth $28.3 billion in the company. Of those, Berkshire Hathaway was the most prominent shareholder with stakes worth $25 billion.