5 Dividend Stocks in Adage Capital’s Portfolio

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

Dividend Yield: 2.83%

Adage Capital Management Stake Value: $234,393,000

Percentage of Adage Capital Management’s 13F Portfolio: 0.46%

Number of Hedge Fund Holders: 61

Dividend king The Coca-Cola Company (NYSE:KO) is among the dividend-paying stocks in Adage Capital’s portfolio in Q3 2021. Between June and September, the fund increased its stake in the Atlanta-based beverage company by 6%. The Coca-Cola Company (NYSE:KO) accounts for 0.46% of the hedge fund’s total holdings.

Laurent Grandet of Guggenheim Securities is bullish on Coca-Cola Company (NYSE:KO), noting that the beverage company is transitioning into 2022 with a rebounding business. One of the positive insights Grandet shared is how consumers are crowding restaurants faster than expected during the pandemic recovery. The analyst increased his price target for The Coca-Cola Company (NYSE:KO) to $66 from $61.

Berkshire Hathaway is The Coca-Cola Company’s (NYSE:KO) largest shareholder, owning 400 million shares of the company worth $21 billion as of the end of the third quarter of 2021. Overall, 61 funds of the 867 elite funds tracked by Insider Monkey reported owning stakes in The Coca-Cola Company (NYSE:KO) at the end of September 2021.