10 Best Food Stocks To Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 69

The Coca-Cola Company (NYSE:KO), a global beverage giant, is a well-known household name with a diverse range of products. The company’s strong brand reputation and efficient operations have enabled it to maintain a dominant market position. The stock returned over 4% since the start of the year, becoming one of the best food stocks on our list.

According to analysts, The Coca-Cola Company (NYSE:KO) has successfully navigated inflationary pressures through strategic pricing initiatives. This approach contributed to the company exceeding Wall Street expectations in its third-quarter financial results. Coca-Cola reported a 9% growth in organic revenues and a 5% increase in comparable EPS, showcasing strong performance in both revenue and profitability.

The Coca-Cola Company (NYSE:KO) also has a strong track record of rewarding shareholders through consistent dividend increases, having raised its dividend for 54 consecutive years. With a current dividend yield of 2.85%, the company offers a reliable income stream for investors.

As of Q3 2024, 69 funds reported owning a stake in The Coca-Cola Company (NYSE:KO). Berkshire Hathaway was the leading hedge fund investor in the company, with a stake worth over $28.7 billion.