The Coca-Cola Company (NYSE:KO), a multinational beverage corporation, is one of the most notable dividend paying consumer defensive stocks. The Coca-Cola Company (NYSE:KO) is a significant dividend king, with 60 years of consecutive dividend increases under its belt.
On February 17, The Coca-Cola Company (NYSE:KO) declared a $0.44 per share quarterly dividend, a 4.8% increase from its prior dividend of $0.42. The dividend was distributed on April 1, to shareholders of the company as of March 15. The stock delivers a yield of 2.80% as of April 1.
Guggenheim analyst Laurent Grandet on April 1 raised the price target on The Coca-Cola Company (NYSE:KO) to $68 from $67 and kept a Buy rating on the shares. The analyst made the bull case for The Coca-Cola Company (NYSE:KO) given its plan to acquire Monster Beverage Corporation (NASDAQ:MNST), as its valuation is now approaching an all-time low.
Among the hedge funds tracked by Insider Monkey, 70 funds were bullish on The Coca-Cola Company (NYSE:KO), compared to 61 funds in the prior quarter. Warren Buffett’s Berkshire Hathaway is the biggest shareholder of the company, owning 400 million shares worth $23.6 billion.
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