With October almost over, many investors are looking ahead to Halloween, the holidays and the end of the year. One thing is for sure; the stock market is very overbought and some of the momentum stock trades are very crowded and have been hit hard during recent sell-offs. With interest rates remaining very close to generational lows, top-quality dividend stocks may be the way to go for the rest of 2021 and into 2022.
Often when income investors look for companies paying big dividends they are drawn to the Dividend Aristocrats, and with good reason. The 65 companies that made the cut for the 2021 S&P 500 Dividend Aristocrats list have increased dividends (not just remained the same) for 25 years straight. Keep in mind that being on this list now doesn’t mean that in the future they won’t be forced to reduce their dividend.
We decided to screen the Dividend Aristocrats looking for the companies that have raised their dividends the longest. Eight top companies in the elite list have raised the dividends they pay shareholders every year for the past 58 years. Five look like great ideas now for worried investors looking for some growth and dependable income. While all are rated Buy on Wall Street, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Coca-Cola
This remains a top Warren Buffet holding and offers not only safety but also an incredibly strong worldwide brand with 40% overseas sales. Coca-Cola Co. (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands.
Led by Coca-Cola, one of the world’s most valuable brands, the company’s portfolio features 20 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, it is the number one provider of sparkling beverages, ready-to-drink coffees and juices and juice drinks.
Through the world’s largest beverage distribution system, consumers in more than 200 countries enjoy Coca-Cola beverages at a rate of more than 1.9 billion servings a day. Also remember that the company also owns 16.7% of Monster Beverage, which continues to deliver big numbers.
Coca-Cola stock investors receive a 3.10% dividend. BofA Securities has a price target of $64 on the shares, while the Wall Street consensus target is $61.89. The stock closed on Monday at $54.23 per share.
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