In today's edition of "Talking Stocks," analyst Austin Smith looks at a hidden way to play everyone's favorite dividend stock -- Coca-Cola.

Scary times like this with heightened volatility often causes investors to run for the safety of high yields, but sometimes there can be hidden ways to play these favorite dividend plays instead. In Coca-Cola's case, a cheaper alternative to play their brand strength could be Coca-Cola Hellenic. Investors that see the "hellenic" here and get scared should take a step back. Despite being headquartered in Greece, only a small percentage of its volume comes from the country, and about 50% of its volume comes from high-growth emerging markets. These emerging markets are crucial to Coca-Cola's long-term growth. Not only that, CCH trades for a significant discount to free cash flow when compared to Coke major and other companies in the beverage space. If you're looking at a peripheral way to play this great stock, this may be opportunity knocking.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.