What's something that receives more attention from investors than is probably warranted? A single quarterly earnings result would probably be near the top of the list. However, I'd add something else too: stock splits. I understand why it sometimes makes sense for companies to conduct stock splits, but the splits don't change anything about the fundamentals of their businesses.

That said, stock splits can highlight stocks that might otherwise be overlooked by many investors. There are three big stock splits right around the corner that are worthy of notice, in my view. And two of the three stocks are great picks during uncertain markets like the one we have right now.

1. Coca-Cola Consolidated

Coca-Cola Consolidated (COKE 3.39%) is a different entity from its famous partner, The Coca-Cola Company. However, it does rank as the largest Coca-Cola bottler in the U.S., serving 14 states and the District of Columbia.

With its share price trading well over $1,100 throughout 2025 so far, I doubt anyone was surprised when Coca-Cola Consolidated announced in March that its board of directors approved a 10-for-1 stock split. This split isn't a done deal quite yet, though. It must first be approved by shareholders at the annual meeting on May 13, 2025. Assuming all goes to plan, Coca-Cola Consolidated's shares will probably begin to trade an a split-adjusted basis on May 27, 2025.

Coca-Cola Consolidated stock plunged after its first-quarter update on April 30. Net sales fell 1% year over year, with operating income tumbling 12%. However, I think this sell-off makes the stock more attractive amid overall market uncertainty.

Image source: Getty Images.

I'm not too worried about the disappointing Q1 results. For one thing, there were two fewer selling days in the recent quarter than in the prior year period. The timing of the Easter holiday also had a negative impact. Most importantly, though, I expect the overall demand for the drinks bottled by Coca-Cola Consolidated will hold up relatively well even if the U.S. economy stumbles.

2. Fastenal

Fastenal (FAST -4.65%) is best known as a distributor of threaded fasteners. However, the company has expanded its business through the years. Today, non-fastener products make up almost 70% of Fastenal's total sales.

On April 23, 2025, Fastenal's board of directors approved a two-for-one stock split. This stock split is scheduled to be conducted at the close of business on May 21, 2025, for all shares owned as of the close of business on May 5, 2025.

While the major market indexes remain in negative territory year to date, Fastenal's share price is up by a solid double-digit percentage. The company's business continues to perform relatively well. Management believes that Fastenal should be able to keep generating strong cash flow.

I'm somewhat leery of buying Fastenal stock right now, though. Its shares trade at a premium valuation with a forward price-to-earnings ratio of 38. The company also mentioned in its Q1 update that customers appear to be "becoming more cautious" because of the uncertainty related to the Trump administration's trade policies.

3. O'Reilly Automotive

However, I like another stock with an upcoming split despite the question marks about the economy. O'Reilly Automotive (ORLY 0.08%) is one of the largest U.S. specialty retailers focusing on automotive aftermarket parts, tools, supplies, equipment, and accessories. Its share price has soared this year despite the overall market turbulence.

O'Reilly's valuation isn't cheap, with shares trading at 32 times forward earnings. But I still expect the stock to perform better than most, even during an economic decline. Why? The higher prices resulting from steep tariffs could make Americans more likely to keep their older cars rather than buy new ones. If I'm right, O'Reilly could be a direct beneficiary as car owners spend more on repairs.

I also think it's possible that O'Reilly's 15-for-1 stock split planned for June 9, 2025, could attract new investors. The company's board of directors approved the split on March 13, 2025, but it must be approved by shareholders in the annual meeting on May 15, 2025.

O'Reilly has been a huge winner in the past, delivering an average annual gain of 21% since its last stock split in 2005. There's no guarantee that it will keep up that impressive level of performance, but I predict investors who buy O'Reilly now will be glad they did 10 years down the road.