7 Best Beverage Stocks that Pay Dividends

2. The Coca-Cola Company (NYSE:KO)

Number of Hedge Funds Holders: 68

The Coca-Cola Company (NYSE:KO) manufactures, markets, and sells various non-alcoholic beverages all over the world. The company operates in soft drinks, sparking water, value-added dairy, and plant-based beverages. It operates under the brand names of Coca-Cola, Fanta, FUZE TEA, Dasani, and several other brands.

In Q2 2024, The Coca-Cola Company (NYSE:KO) reported a 15% increase in organic revenues, driven by a 2% growth in unit case sales. Despite facing a 10% impact from currency fluctuations, it successfully reported a 7% surge in comparable earnings per share.

In the Asia-Pacific region, the company delivered a double-digit volume growth in the Philippines. It was mainly attributable to the focus on affordable packaging. Along with that, India also bounced back with the help of local brands such as Maaza.

In contrast, the North American delivered results in top-line and bottom-line products mainly supported by strategic partnerships and new product launches. In Latin America, the volume of Coca-Cola zero sugar increased by 20%. This reflects the solid execution across the beverage portfolio of the company. As a result, the share price has surged nearly 15% on a YTD basis.

However, the EMEA region registered a mixed response amidst geopolitical tensions. It faces a challenging situation in the region due to a boycott amidst the Israel-Palestine conflict.

Nevertheless, The Coca-Cola Company (NYSE:KO) raised the 2024 guidance, anticipating 9% to 10% organic revenue growth. Thus, 68 hedge funds have invested $31 billion in the company as of Q2 2024, as per Insider Monkey’s database. The company’s annual dividend amounts to $1.94 per share, yielding 2.73%, earning it a spot on our list of best beverage dividend stocks to buy.