There are a lot of things to like about Coca-Cola's (NYSE: KO) stock, not the least of which are its status as a Dividend King and its well-above-market 3% Dividend yield.

But it isn't the only high-yield consumer staples stock you can buy that is a Dividend King. In fact, if you can handle contrarian investing, deeply out-of-favor Hormel Foods (NYSE: HRL) is probably a better option.

At its core, Coca-Cola sells flavored water, which is a pretty impressive thing when you consider the iconic nature of the company's namesake product.

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Source Fool.com