Dividend Stock Portfolio: 8 Stocks To Invest In According to Reddit

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

Number of Hedge Fund Holders: 68

The Coca-Cola Company (NYSE:KO) is an American multinational beverage company. It is well-liked by retail investors due to its leadership position in the industry. In addition, its solid business model and consistent growth over the years have contributed to its popularity. The stock has performed well this year, rising by nearly 20%. It reached a record high on September 3, with the share price climbing to approximately $73.

Morgan Stanley predicts that The Coca-Cola Company (NYSE:KO) will continue its strong performance. Analyst Dara Mohsenian highlighted the company as a preferred choice, particularly over competitors dealing with slower organic sales growth. He noted that Coca-Cola’s solid fundamentals are distinguishing it from the rest, with expectations of strong, above-average long-term organic sales growth driven by international trends and its global presence. The firm named the company as its top choice, keeping an Overweight rating on the stock.

The Coca-Cola Company (NYSE:KO)’s cash position also makes it one of the most favored investment options. In the second quarter of 2024, the company reported an operating cash flow of $4.1 billion and its free cash flow for the quarter amounted to $3.3 billion. It expects to generate a free cash flow of $9.2 billion in FY24.

The Coca-Cola Company (NYSE:KO), one of the best stocks for a dividend stock portfolio, has raised its payouts for 62 years in a row. The company pays a quarterly dividend of $0.485 per share and has a dividend yield of 2.7%, as of September 21.

The number of hedge funds tracked by Insider Monkey owning stakes in The Coca-Cola Company (NYSE:KO) grew to 68 in Q2 2024, from 62 in the previous quarter. These stakes have a total value of nearly $32 billion. Warren Buffett’s Berkshire Hathaway was the company’s leading stakeholder in Q2.