As recession fears grow, Coca-Cola (NYSE:KO) is being spotlighted as a leading defensive stock, supported by a new Buy rating from Citi and an increased price target of $70 from Morgan Stanley. The beverage giant boasts notable hedge fund investments, including a substantial $25 billion stake from Warren Buffett’s Berkshire Hathaway. Other consumer staples like The Home Depot, AbbVie, and Procter & Gamble are also gaining traction among investors focused on stability, bolstered by their consistent dividend growth.
“The Coca-Cola Company (NYSE:KO) · is considered · one of the best defensive stock picks · for a recessionary environment”
“Citi · started covering · The Coca-Cola Company (NYSE:KO) · with a Buy rating and a $68 price target”
“Morgan Stanley · kept · an Overweight rating on The Coca-Cola Company (NYSE:KO) · raised price target to $70”
“58 hedge funds · had stakes in · The Coca-Cola Company (NYSE:KO) · as of the end of the fourth quarter of 2022”
“Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK-B) · was the biggest stakeholder of · The Coca-Cola Company (NYSE:KO) · with a $25 billion stake”
“The Home Depot, Inc. (NYSE:HD) · is considered · one of the best picks for any starter stock portfolio”
“UBS · ran · a machine-learning model · to select its top dividend picks”
“The Home Depot, Inc. (NYSE:HD) · had · optimistic views from Wall Street analysts · despite weak Q4 results”
“BofA’s Elizabeth Suzuki · said · The Home Depot, Inc. (NYSE:HD)’s 2023 guidance · may be overly conservative”
“Matrix Asset Advisors · commented · on The Home Depot, Inc. (NYSE:HD) · re-established a position after shares declined”
“The Home Depot, Inc. (NYSE:HD) · has historically been · shareholder friendly · by repurchasing shares and increasing dividend”
“The Home Depot, Inc. (NYSE:HD) · currently has · a dividend yield · of 2.8%”
