When looking for safe places to park cash during heightened volatility, targeting low-beta stocks is an excellent strategy that investors can deploy.Beta is a measure of a stock's systematic risk, or volatility, compared to the market as a whole. Generally, the benchmark is the S&P 500, which has a beta of 1.0.Stocks with a beta higher than 1.0 are more sensitive to the market’s movements, while those with a beta less than 1.0 are less susceptible.For those seeking shelter from volatility, three stocks – The Kroger Co. KR, General Mills GIS, and Johnson & Johnson JNJ – would be great places to start.On top of carrying a beta of less than 1.0, all three have rock-solid dividend metrics, a significant positive that helps alleviate drawdowns in other positions.Below is a chart illustrating the share performance of all three companies year-to-date, with the S&P 500 blended in as a benchmark.Image Source: Zacks Investment ResearchAs seen above, all three have widely outperformed the general market in 2022, indicating that buyers have defended the stocks at a much higher level than most.Let’s take a deeper look at each one.General MillsGeneral Mills is a global manufacturer and marketer of branded consumer foods sold through retail stores. We see their products on nearly every shelf.GIS carries a beta of 0.32.The company has witnessed positive earnings estimate revisions as of late, helping push the company into a favorable Zacks Rank #2 (Buy).Image Source: Zacks Investment ResearchFor those seeking an income stream, General Mills has that covered; the company’s annual dividend yields a rock-solid 2.8% paired with a payout ratio sitting at 53% of earnings.The company’s annual dividend yield is just a tick below the Zacks Consumer Discretionary sector average of 2.9%.Image Source: Zacks Investment ResearchFurther, GIS is forecasted to grow at an inspiring pace – earnings are forecasted to grow 3.6% in FY23 and a further 6.6% in FY24.The earnings growth comes on top of forecasted revenue increases of 2.8% and 2.2% for FY23 and FY24, respectively.Image Source: Zacks Investment ResearchJohnson & JohnsonHeadquartered in New Jersey, Johnson & Johnson is an American multinational corporation that develops medical devices, pharmaceuticals, and consumer packaged goods.JNJ carries a beta of 0.56.Johnson & Johnson has been heavily dedicated to rewarding its shareholders; the company is a member of the elite Dividend King club, upping its dividend payout for a mind-boggling 60 consecutive years.The company’s annual dividend yields a sizable 2.8%, notably higher than its Zacks Medical sector average of 1.5%.Image Source: Zacks Investment ResearchJNJ has an impressive earnings track record – the company hasn’t reported earnings below the Zacks Consensus EPS Estimate dating all the way back to 2012. Just in its latest print, JNJ penciled in a marginal 0.8% bottom line beat.Sales results have also been commendable, with JNJ exceeding revenue estimates in seven of its last ten quarterly reports. Below is a chart illustrating the company’s revenue on a quarterly basis.Image Source: Zacks Investment ResearchIn addition, JNJ shares appear reasonably priced, further bolstered by its Style Score of a B for Value.Shares trade at a 16.0X forward earnings multiple, a few notches below their five-year median of 16.8X and representing a sizable 24% discount relative to their Zacks Medical sector.Image Source: Zacks Investment ResearchThe Kroger Co. Founded in 1883, the long-time retailer operates approximately 2,700 retail stores under various banners and divisions in 35 states.KR has a beta of 0.51.Like General Mills, analysts have been bullish on Kroger’s near-term earnings outlook over the last several months, helping land the stock into a Zacks Rank #2 (Buy).Image Source: Zacks Investment ResearchKR shares are cheap; the company’s 10.8X forward earnings multiple is nicely below its 12.6X five-year median and reflects a steep 55% discount relative to its Zacks Retail and Wholesale sector average.Image Source: Zacks Investment ResearchFor the cherry on top, KR rewards its shareholders via its annual dividend that yields a respectable 2.4%, notably higher than its Zacks Sector average of 1%. KR’s dividend growth is even more impressive – the company has upped its dividend payout five times over the last five years, paired with a double-digit 13.2% five-year annualized dividend growth rate.Image Source: Zacks Investment ResearchBottom LineWith the market sailing through a historically-volatile year, it goes without saying that adding some defensive stocks would benefit investors.Low-beta stocks are a great way to shield yourself against volatility, as they are less susceptible to the market’s moves.Of course, some gains could be missed, but defense wins ballgames.For those searching for low-beta stocks with solid dividend payouts, all three stocks – The Kroger Co. KR, General Mills GIS, and Johnson & Johnson JNJ – deserve consideration. This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.>>Yes, I Want to Help Protect My Portfolio During the RecessionWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Johnson & Johnson (JNJ): Free Stock Analysis Report General Mills, Inc. (GIS): Free Stock Analysis Report The Kroger Co. (KR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research