Top 20 Dividend Stocks of 2024

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

Number of Hedge Fund Holders: 69

The Coca-Cola Company (NYSE:KO) is an American multinational beverage company. It has earned investors’ trust over the years due to its established leadership in the market. The company’s primary competitive edge lies in its powerful brand, which helps it stand out and protect against competitors. Alongside its reputation for providing a dependable product, the company has honed outstanding marketing strategies that keep its brand visible and top-of-mind for consumers. In the past 12 months, the stock has delivered a nearly 4% return to shareholders, which makes it one of the best dividend stocks on our list.

In the third quarter of 2024, The Coca-Cola Company (NYSE:KO) reported revenues close to $12 billion, surpassing analysts’ expectations by $290 million. It showed strong cash flow performance, generating $2.9 billion in operating cash flow and $1.6 billion in free cash flow. The company also achieved an impressive adjusted operating margin of 30.7%, highlighting its robust profitability.

This sustained performance has led to substantial long-term gains for shareholders, as The Coca-Cola Company (NYSE:KO) has increased its dividend for an impressive 62 consecutive years. Such a remarkable track record of rewarding investors is rare among companies. The company currently offers a quarterly dividend of $0.485 per share for a dividend yield of 3.13%, as of December 30.

Insider Monkey’s database of Q3 2024 indicated that 69 hedge funds held stakes in The Coca-Cola Company (NYSE:KO), up from 68 in the previous quarter. The overall value of these stakes is roughly $35 billion. Warren Buffett’s Berkshire Hathaway held the largest individual stake in the company, with 400 million shares.