5 Best S&P 500 Stocks To Buy According to Ray Dalio’s Bridgewater Associates

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

Percentage of Bridgewater Associates’ portfolio as of Q2 2023: 3.05%

Number of Hedge Fund Holders: 61

The Coca-Cola Company (NYSE:KO) is a famous multinational beverage company that produces and sells alcoholic drinks and several non-alcoholic beverages like water, carbonated drinks, sports drinks, plant-based drinks, and more. It is one of the best S&P 500 stocks to buy.

On October 19, The Coca-Cola Company (NYSE:KO) announced a quarterly dividend of $0.46 which is payable by December 15 to shareholders of record on December 1. As of November 4, the company’s dividend yield is 3.24% and the corporation has been increasing its dividend for more than six decades.

On October 24, The Coca-Cola Company (NYSE:KO) released its Q3 earnings result which showed that it beat analysts’ estimates by $0.05 with a non-GAAP EPS of $0.74. The company’s revenue of $12 billion grew 8.1% YoY, topping the estimates by $580 million. 

On October 16, The Coca-Cola Company (NYSE:KO) announced that it will be expanding its small portfolio of alcoholic beverages by entering into a partnership with Pernod Ricard SA (OTC:PDRDF) to introduce a ready-to-drink pre-mixed cocktail of Absolut Vodka & Sprite in 2024.