Jim Simons’ Renaissance Technologies Portfolio: 5 Dividend Stock Picks

3. The Coca-Cola Company (NYSE:KO)

Dividend Yield as of May 19: 2.92%
Number of Hedge Fund Holders: 70
Renaissance Technologies’ Stake Value: $313,234,000

Jim Simons’ Renaissance Technologies started building its position in The Coca-Cola Company (NYSE:KO) during the fourth quarter of 2010. In Q1 2022, the hedge fund held shares worth over $313.2 million in the company, after reducing its position by 49%. The company represented 0.36% of Jim Simons’ portfolio.

The Coca-Cola Company (NYSE:KO) is one of the most famous dividend stocks, increasing dividends for the shareholders for the past 60 years consecutively.

As of the end of Q4 2021, 70 hedge funds tracked by Insider Monkey reported owning stakes in The Coca-Cola Company (NYSE:KO), up from 61 in the previous quarter. The consolidated value of these stakes is over $28.6 billion. Berkshire Hathaway was the major shareholder of this Georgia-based company in Q1 2022, holding stakes worth roughly $24.8 billion.

ClearBridge Investments mentioned The Coca-Cola Company (NYSE:KO) in its Q4 2021 investor letter. Here is what the firm has to say:

“Over the last year, we have repositioned our portfolio to navigate the course we see ahead. We added to more defensive areas of the portfolio like consumer staples (Coca-Cola). While the next month or two will likely prove choppy on account of the Omicron variant, we believe that Omicron, like Delta, represents a speed bump on the way to recovery rather than a true change in course. We see strong economic momentum continuing in 2022 and we expect interest rates to rise. After a decade of remarkably low rates, we would not be surprised if this change in direction is accompanied by some fits and starts in the markets. With our emphasis on pricing power, purposeful sector exposure, valuation discipline, and a strong dividend profile, we believe we are well-positioned for the year ahead.”