5 Best Consumer Staples Dividend Stocks To Buy Now

In this article, we discuss 5 best consumer staples dividend stocks to buy now. If you want to read our detailed analysis of the consumer staples sector, its performance, and its outlook for 2024, go directly to read 13 Best Consumer Staples Dividend Stocks To Buy Now. 

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

Number of Hedge Fund Holders: 57

An American multinational beverage company, The Coca-Cola Company (NYSE:KO) ranks fifth on our list of the best dividend stocks from the consumer staples industry. The company currently pays a quarterly dividend of $0.61 per share and has a dividend yield of 3.07%, as of January 31. It has been rewarding shareholders with 61 consecutive years of dividend growth.

Of the 910 hedge funds in Insider Monkey’s database as of Q3 2023, 57 hedge funds owned stakes in The Coca-Cola Company (NYSE:KO). These stakes have a total value of more than $57 billion. Warren Buffett’s Berkshire Hathaway was the company’s leading stakeholder in Q3.

4. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 65

Costco Wholesale Corporation (NASDAQ:COST) operates warehouse clubs, which are large-scale retail stores that offer a wide range of products, including groceries, electronics, appliances, clothing, furniture, and more. The company has been growing its dividends for the past 19 years, which makes it one of the best dividend stocks on our list. In addition to this, the company frequently pays special dividends to shareholders. It currently offers a quarterly dividend of $1.02 per share and has a dividend yield of 0.58%, as of January 31.

At the end of September 2023, 65 hedge funds tracked by Insider Monkey held stakes in Costco Wholesale Corporation (NASDAQ:COST), compared with 67 in the previous quarter. The consolidated value of these stakes is over $3.56 billion.

3. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 65

PepsiCo, Inc. (NASDAQ:PEP) is next on our list of the best dividend stocks from the consumer staples industry. The global food and beverage company pays a quarterly dividend of $1.265 per share and has a dividend yield of 2.98%, as of January 31. Its dividend growth streak currently spans over 51 years.

As per Insider Monkey’s database of Q3 2023, 65 hedge funds reported having stakes in PepsiCo, Inc. (NASDAQ:PEP), compared with 68 in the preceding quarter. These stakes have a collective value of nearly $4.3 billion.

2. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 75

The Procter & Gamble Company (NYSE:PG) is a multinational consumer goods corporation known for its diverse range of household and personal care products. On January 9, the company announced a quarterly dividend of $0.9407 per share, which was consistent with its previous dividend. It holds one of the longest dividend growth streaks in the market, spanning over 67 years. The stock’s dividend yield on January 31 came in at 2.39%.

At the end of September 2023, 75 hedge funds in Insider Monkey’s database owned stakes in The Procter & Gamble Company (NYSE:PG), up from 74 in the previous quarter. These stakes have a total value of over $5.7 billion. Among these hedge funds, Fisher Asset Management was the company’s largest stakeholder.

1. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 80

Walmart Inc. (NYSE:WMT) tops our list of the best dividend stocks from the consumer staples industry. The multinational retail corporation offers a quarterly dividend of $0.57 per share and has a dividend yield of 1.38%, as of January 31. The company has been growing its dividends consistently for the past 50 consecutive years.

The number of hedge funds tracked by Insider Monkey owning stakes in Walmart Inc. (NYSE:WMT) stood at 80 in Q3 2023, down slightly from 81 in the previous quarter. The total value of these investments is nearly $6 billion.

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