When a company can avoid cutting its dividend even during economic recessions and crises, investors know it is a reliable stock.
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There’s a special breed of dividend stocks that takes reliability, consistency and dependability to another level. The Dividend Aristocrats are a small group of stocks that have somehow managed to raise their dividend payments each year for at least 25 consecutive years. For decades, each Dividend Aristocrat has rewarded its investors for loyalty and demonstrated its commitment to shareholder returns. Here are nine of the best Dividend Aristocrat stocks to buy, according to Morgan Stanley analysts:
| Stock | Forward Dividend Yield |
| Procter & Gamble Co. (ticker: PG) | 2.5% |
| Coca-Cola Co. (KO) | 2.8% |
| Colgate-Palmolive Co. (CL) | 2.2% |
| AbbVie Inc. (ABBV) | 3.5% |
| Becton Dickinson & Co. (BDX) | 2.4% |
| Target Corp. (TGT) | 4.7% |
| Walmart Inc. (WMT) | 0.9% |
| Lowe’s Cos. Inc. (LOW) | 2.1% |
| Nucor Corp. (NUE) | 2.0% |
Procter & Gamble Co. (PG)
Procter & Gamble produces household consumer products and owns a number of popular brands, including Pampers, Tide and Gillette. Procter has also raised its dividend for 68 consecutive years, the longest track record of dividend hikes on this list. Analyst Dara Mohsenian anticipates Procter’s organic sales growth will rebound to the 2% to 3% range moving forward now that the company’s negative earnings revisions have played out. Mohsenian says organic sales growth will likely be above average compared to Procter’s peers, which supports arguments for an upside to its valuation. Morgan Stanley has an “overweight” rating and $180 price target for PG stock, which closed at $165.86 on May 23.
Coca-Cola Co. (KO)
Coca-Cola is the largest manufacturer of soft drinks and is one of the world’s most valuable brands. Mohsenian says Coca-Cola’s recent organic sales growth numbers have been particularly impressive considering the difficult environment for consumer packaged goods companies. He says Coca-Cola is uniquely positioned to navigate international tariff wars because it uses local sourcing, it has a defensive product mix and it shares costs with its bottling network. In fact, Mohsenian says Coca-Cola is his top overall stock pick at its current valuation. Morgan Stanley has an “overweight” rating and $81 price target for KO stock, which closed at $71.77 on May 23.
Colgate-Palmolive Co. (CL)
Colgate-Palmolive produces household and nutrition products, including toothpaste, toothbrushes, shampoos and deodorants. Mohsenian says Colgate recently stood out among its peer group because it did not cut earnings-per-share (EPS) guidance following the implementation of tariffs. He attributes this relative strength to the company’s strong fundamental performance, defensive business mix, favorable exposure to a weaker dollar, strong forward pricing power and recent reinvestments in the company. Looking ahead, Mohsenian anticipates strong underlying demand in the oral care and pet categories will drive organic sales growth. Morgan Stanley has an “overweight” rating and $104 price target for CL stock, which closed at $92.59 on May 23.
AbbVie Inc. (ABBV)
AbbVie is a global pharmaceutical company. Its key drugs include Humira for treating rheumatoid arthritis, psoriasis, Crohn’s disease and other conditions, along with Skyrizi for treating plaque psoriasis, psoriatic arthritis, Crohn’s disease and ulcerative colitis. Analyst Terence Flynn says AbbVie is successfully diversifying its business away from Humira, with Skyrizi and inflammation drug Rinvoq increasingly picking up the slack. Flynn says AbbVie will continue to de-risk its late-stage drug development pipeline and report revenue and EPS growth in the mid-single-digit percentage range. Morgan Stanley has an “overweight” rating and $250 price target for ABBV stock, which closed at $183.26 on May 23.
[SEE: 7 Best Monthly Dividend Stocks to Buy Now.]
Becton Dickinson & Co. (BDX)
Becton Dickinson is a medical device and diagnostics provider. The company produces instruments such as syringes, scalpels and other diagnostic equipment. Analyst Patrick Wood says Becton is relying on its strong business and its internal efficiencies to protect its margins in a challenging environment. The company’s BD Excellence operating system is helping fuel margin expansion. In addition, Becton’s scale as the largest U.S. medical devices manufacturer will help the company continue to navigate the sluggish macro environment and generate value for investors in the long term. Morgan Stanley has an “overweight” rating and $280 price target for BDX stock, which closed at $171.38 on May 23.
Target Corp. (TGT)
Target is one of the largest U.S. discount retailers. The stock has a 4.7% dividend, the highest on this list. Analyst Simeon Gutman says Target has been battling headwinds related to boycotts and customer pushback to certain social initiatives in recent years that have damaged its brand. Gutman says customer disaffection will result in same-store sales declines of between 3% and 4% in 2025. However, he says Target will likely see no further deterioration and same-store sales growth will rebound to positive territory in 2026. Morgan Stanley has an “overweight” rating and $112 price target for TGT stock, which closed at $94.29 on May 23.
Walmart Inc. (WMT)
Walmart is the largest U.S. retailer, operating department stores, wholesale clubs, supermarkets and supercenters around the world. Gutman says Walmart is firing on all cylinders in a difficult retail environment. Online sales growth and advertising revenue growth are accelerating, and Walmart’s earnings growth has outpaced its revenue growth. Despite trade policy uncertainty, Gutman says Walmart is positioned to exceed its current fiscal 2026 guidance of between 3% and 4% net sales growth and between 3.5% and 5.5% adjusted operating income growth. Morgan Stanley has an “overweight” rating and $115 price target for WMT stock, which closed at $96.34 on May 23.
Lowe’s Cos. Inc. (LOW)
Lowe’s is one of the largest North American home improvement retailers. Gutman says Lowe’s has exceeded earnings expectations despite negative same-store sales growth. He says this earnings outperformance is a testament to Lowe’s top-tier management team. Gutman says part of the company’s strategy to navigate the weak demand environment is to invest in improving its business and identifying cost efficiency opportunities. If the Federal Reserve resumes interest rate cuts at some point, Lowe’s could see an uptick in demand from large home improvement products that require financing. Morgan Stanley has an “overweight” rating and $255 price target for LOW stock, which closed at $221.07 on May 23.
Nucor Corp. (NUE)
Nucor is the largest U.S. mini-mill steelmaker and is one of the most diversified steel producers in North America. In March, the Trump administration implemented 25% tariffs on imported steel and steel derivatives. Analyst Carlos De Alba says Nucor’s steel-making operations have low fixed costs and are highly flexible, allowing the company to adapt to shifting market conditions. While the geopolitical landscape remains uncertain, De Alba says Nucor is undervalued and he projects solid earnings growth and consistent capital returns through at least 2026. Morgan Stanley has an “overweight” rating and $134 price target for NUE stock, which closed at $108.49 on May 23.
[SEE: 15 Best Dividend Stocks to Buy Now]
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9 Dividend Aristocrat Stocks to Buy Now originally appeared on usnews.com
Update 05/27/25: This story was previously published at an earlier date and has been updated with new information.
