5 of Warren Buffett's Top Dividend Stocks Crushed Q3 Earnings Expectations

Kraft Heinz is the third-largest food and beverage manufacturer in North America, deriving 76% of revenues from that market and 24% internationally. Additional brands include Oscar Meyer, Maxwell House, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Weight Watchers Smart Ones and Velveeta.

The company reported fiscal third-quarter sales growth of 2.9% year over year to $6.50 billion, beating the consensus projection. Sales in North America rose 1.5% year over year, and International sales climbed a very solid 7.7%.

The dividend yield here is 4.33%. Goldman Sachs has set a $43 price target, and the consensus target is $41.18. Kraft Heinz stock closed on Thursday at $38.02.


The legacy fast-food heavyweight is a solid pick when the economy goes south, and it is among the safest large-cap restaurant plays. McDonald’s Corp. (NYSE: MCD) operates and franchises McDonald’s restaurants in the United States and internationally.

The company’s restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and other beverages, as well as a breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes and other sandwiches. As of December 31, 2021, the company operated 40,031 restaurants.

The company posted very solid results, with $5.87 billion in revenue and per-share earnings both topping consensus estimates. The company cited solid marketing efforts and higher menu prices as positive factors in the outstanding results.

McDonald’s stock investors receive a 2.15% dividend. The BMO Capital Markets target price is $300 and a Wall Street high. The consensus is $282.88. Thursday’s close was at $265.11.

Given Warren Buffett’s proclivity for only owning the stocks of companies that he understands inside and out, these stocks make sense now for growth and income investors worried about the potential for a continued steep market decline. While they could sell off some in a large correction and a recession, they will hold up far better than most companies will.

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