Dividend Corner: Coca-Cola has struggled in 2023. Is it still a good dividend stock?
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Shares of Coca-Cola (NYSE:KO) have slumped in early 2023, as the stock has underperformed against the broader market indices through the first five-months of trading. However, the iconic soft drink maker still garners investor attention both as a defensive stock at a time of uncertain economic conditions and as a potential dividend play. 
KO has retreated by 5.9% in 2023 and has faltered 8.3% from its year-to-date high, which was seen back in late April, when it delivered its latest round of earnings.
To understand if KO still makes sense as a dividend choice, here are some details about its dividend yield, safety, growth and consistency as a dividend position. The metrics are derived from Seeking Alpha's Quant Rating system, which grades stocks based on relative performance in quantifiable categories.
Coca-Cola Dividend Yield:
Seeking Alphaâs Quant Ratings view KO as a B- in regards to the beverage company's dividend yield. Currently, shares of Coca-Cola come with a dividend yield of 3.05%, above the sector median.
See below a breakdown of the stock's dividend yield grade:

Coca-Cola Dividend Growth:
KO receives an A in terms of dividend growth, despite the firm's underperformance against the broader sector for its 1-year dividend growth rate.
Here's a breakdown of KOâs dividend growth grade:

Coca-Cola Dividend Safety:
KO can be viewed as relatively stable in terms of dividend safety. According to Seeking Alphaâs metrics, the stock was given a B for this key area of concern.
See a breakdown of KOâs dividend safety grade:

Coca-Cola Dividend History:
Coca-Cola has long been known as a staple in terms of dividend consistency. Seeking Alpha tagged KO with an A+ in this area.
See a breakdown of Coca-Colaâs dividend consistency grade:

What Others Say about Coca-Cola:
Seeking Alpha analyst Bela Lakos has a bullish stance on Coca-Cola (KO), with a Buy rating on the stock. Lakos explained: âKO has been paying dividends and has been increasing these payments each year in the last 60 years. This is by all means a convincing track record for investors looking for safe dividends.â
At the same time, analyst Skeptical12 believes KO is a Sell, stating: âThe company has been relying on unsustainable price increases to offset volume declines and market share losses, a recession should significantly limit the company's pricing power in my opinion.â
Other Investing Options:
To receive exposure to Coca-Cola (KO) but remain somewhat diversified, investors can turn to exchange traded funds. KO is owned by 306 ETFs. Listed below are the five funds that have the heaviest concentrations towards the firm (listed along with their weightings within the fund):

iShares U.S. Consumer Staples ETF (IYK) at 10.91%.
Consumer Staples Select Sector SPDR Fund (XLP) at 9.63%.
Vanguard Consumer Staples ETF (VDC) at 8.93%.
Fidelity MSCI Consumer Staples Index ETF (FSTA) at 8.80%.
First Trust Nasdaq Food & Beverage ETF (FTXG) at 7.90%.

Additionally, investors can also head towards some of KO's key competitors as another avenue of choice. Some names include shares of PepsiCo, Inc (PEP), Keurig Dr Pepper Inc (KDP), Monster Beverage Corporation (MNST), and National Beverage Corp. (FIZZ).
Moreover, for investors who are looking for broad exposure to dividends, there are many general dividend ETFs to consider as well. Some names include:

Vanguard Dividend Appreciation ETF (VIG)
Vanguard High Dividend Yield Index ETF (VYM)
Schwab US Dividend Equity ETF (SCHD)
iShares Core Dividend Growth ETF (DGRO)
SPDR S&P Dividend ETF (SDY)
iShares Select Dividend ETF (DVY)

For a more comprehensive analysis, see Coca-Colaâs complete dividend score card here.