5 Ultra-Safe Dividend Stocks to Buy Now as a Market Correction May Have Started

We have noted for months here at 24/7 Wall St. that the market is very overbought. We also have advised readers that we haven’t had a 5% market correction since the fall of last year. Toss in the fact that inflation is rearing its ugly head as Tuesday the labor department reported that consumer prices increased 5.4% in June from a year earlier, the biggest monthly gain since August 2008. Excluding food and energy, inflation increased by 4.5%, the largest move since September 1991. Interestingly, but not surprising if you are shopping for a vehicle, car and truck prices comprised about one-third of the total Consumer Price Index.

Toss in the fact that interest rates are plunging and back at the lowest levels since February, and the warning signs are pretty much everywhere. One last indicator is that the Reddit/WallStreetBets meme stocks have been blasted recently, with GameStop and AMC having been cut in half.

We screened the BofA Securities research universe looking for companies that paid solid and dependable dividends, had stocks that were Buy rated and had the firm’s best volatility risk rating. Remember that no single analyst call should ever be used as a basis to buy or sell a stock.

Coca-Cola

This remains a top Warren Buffet and offers not only safety but also an incredibly strong worldwide 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- 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.

Investors receive a 2.98% dividend. The BofA Securities price target for the stock is $60, while the Wall consensus price target is $59.80. Coca-Cola stock ended Thursday’s trading at $56.44 per share.

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