Place chicken breasts in bottom of 6-quart slow cooker. Sprinkle cooked bacon pieces evenly over chicken.
In medium saucepan over medium heat, combine cream cheese, cream of chicken soup, chicken broth, ranch seasoning, and cheddar cheese. Cook, stirring frequently and whisking thoroughly, until smooth and melted with no lumps, about 5-7 minutes.
Pour prepared creamy ranch sauce evenly over chicken and bacon in slow cooker, covering all chicken.
Cover and cook on LOW for 4-6 hours until chicken is fully cooked, tender, and easily shreds with fork. Internal temperature should reach 165°F.
Remove chicken and shred with two forks. Return to slow cooker and mix thoroughly with creamy sauce until well combined.
Serve over pasta, rice, or potatoes, spooning plenty of sauce over each portion.
Notes
Boneless, skinless chicken thighs work well. Frozen chicken can be used but add 1 hour to cooking time.
Let cream cheese soften 30 minutes before adding for smooth mixing. Don’t overcook past 6 hours to prevent tough, stringy chicken.
Save shredded cheddar for last 30 minutes to prevent graininess. Use chicken pieces roughly same size for even cooking.
Freshly shred cheese from block for better melting than pre-shredded.