5 Best Food Dividend Stocks to Buy Now

1. The Kraft Heinz Company (NASDAQ:KHC)

Dividend Yield as of November 2: 4.20%

The Kraft Heinz Company (NASDAQ:KHC) is one of the largest food companies in America. It specializes in a wide range of food products and sells them globally. The company has been offering dividends to shareholders even before the merger of Kraft and Heinz in 2015, which places it as one of the best dividend stocks on our list. It pays a quarterly dividend of $0.40 per share for a dividend yield of 4.20%, as of November 2.

In Q3 2022, The Kraft Heinz Company (NASDAQ:KHC) reported revenue of $6.5 billion, which showed a 2.8% growth from the same period last year. Year-to-date, the company’s operating cash flow came in at $1.5 billion and its operating cash flow stood at $885 million. At the end of September, it had $997 million in cash and cash equivalents.

Goldman Sachs upgraded The Kraft Heinz Company (NASDAQ:KHC) to Buy with a $43 price target this October. The firm believes that the company is structurally better positioned today with reduced private label exposure and lowered leverage levels.

At the end of Q2 2022, 41 hedge funds tracked by Insider Monkey owned stakes in The Kraft Heinz Company (NASDAQ:KHC), worth over $13.6 billion. In the previous quarter, 35 hedge funds owned positions in the food company, with stakes valued at over $13.4 billion.

You can also take a look at 12 Best Bank Dividend Stocks To Invest In and 15 Best NASDAQ Dividend Stocks To Buy

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