10 Dividend Stocks to Buy According to Mark Coe’s Coe Capital Management

Published October 24, 2021 at 4:13 am EDT Updated August 19, 2026 at 5:26 am EDT

In this article, we will discuss 10 dividend stocks to buy according to Mark Coe’s Coe Capital Management.

Mark Coe is the managing member of the Highland Park-based Coe Capital Management, a successful hedge fund that was established in 1999. Coe’s hedge fund currently has 97 high net worth clients, discretionary assets under management valued at $176.5 million, and a portfolio worth $123.7 million.

Coe is primarily interested in information technology, healthcare, finance, consumer discretionary, and communications stocks, and these sectors represent a majority of his Coe’s 13F portfolio. The top ten holdings make up 32.23% of the portfolio.

Among the most notable stocks in Coe’s Q2 2021 portfolio are Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), Facebook, Inc. (NASDAQ:FB), and Apple Inc. (NASDAQ:AAPL).

Our Methodology

With this context in mind, let’s discuss 10 dividend stocks to buy according to Mark Coe’s Coe Capital Management.

These dividend stocks are picked from the Q2 portfolio of Coe Capital.

Photo by Nathan Dumlao on Unsplash

Dividend Stocks to Buy According to Mark Coe’s Coe Capital Management

10. The TJX Companies, Inc. (NYSE:TJX)

Coe Capital Management’s Stake Value: $2,368,000

Percentage of Coe Capital Management’s 13F Portfolio: 2.23%

Dividend Yield: 1.62%

Number of Hedge Fund Holders: 56

The TJX Companies, Inc. (NYSE:TJX) is an American multinational discount department store corporation, with flagship brands like TJ Maxx, Marshalls, HomeGoods, HomeSense, and Sierra under its domain, operational in the United States and Canada. The Massachusetts-based retail mega-corporation is traded as a S&P 500 Component. The TJX Companies, Inc. is one of the top dividend stocks to buy according to Mark Coe’s Coe Capital Management, with a dividend yield of 1.62%.

Coe Capital Management owns 35,129 shares in The TJX Companies, Inc. as of the end of the second quarter, valued at $2.36 million, representing 2.23% of Coe’s 13F portfolio.

On October 14, Loop Capital analyst Laura Champine downgraded The TJX Companies, Inc. from Buy to Hold, setting the price target at $65, down from $80.

Like Amazon.com, Inc., Alphabet Inc., Facebook, Inc., and Apple Inc., The TJX Companies, Inc. is a notable stock in Coe’s Q2 portfolio.

Qualivian Investment Partners mentioned The TJX Companies, Inc. in their Q2 2021 investor letter. Here is what they said:

“TJX Companies: While it still outperformed the S&P 500, TJX landed in the bottom three as its stock’s tepid performance reflected the broader underperformance of stocks levered to post-COVID reopening. These were muted in the quarter given the resurgence of COVID cases due to the Delta variant. Its actual results, which it reported on August 18th, were outstanding, beating across the board on both top and bottom lines and showing strong operating leverage in the operating profit line. Same store sales were up an impressive 20% overall. We remain very confident in TJX’s moat in that its treasure hunt format is hard to replicate for the likes of Amazon and Walmart.”

9. UnitedHealth Group Incorporated (NYSE:UNH)

Coe Capital Management’s Stake Value: $2,558,000

Percentage of Coe Capital Management’s 13F Portfolio: 2.41%

Dividend Yield: 1.35%

Number of Hedge Fund Holders: 105

UnitedHealth Group Incorporated (NYSE:UNH) is one of the top dividend stocks to buy according to Mark Coe’s Coe Capital Management. UnitedHealth Group Incorporated is a Minnesota-based healthcare and insurance multinational company. It is the largest insurance company by net premiums, and the eighth largest company by revenue. UnitedHealth Group Incorporated has a market cap of $402.79 billion, and ranks eighth on the Fortune Global 500 list as of 2021.

Coe Capital Management owns 6,389 shares in UnitedHealth Group Incorporated as of the second quarter of 2021, valued at $2.5 million, and making up 2.41% of Coe’s 13F portfolio.

On October 15, Evercore ISI analyst Michael Newshel kept an Outperform rating on the stock and raised the price target to $480 from $360. He stated that the Q3 earnings and the company outlook for 2022 met expectations.

Like Amazon.com, Inc., Alphabet Inc., Facebook, Inc., and Apple Inc., UnitedHealth Group Incorporated (UNH) is a good investment according to Coe’s Q2 portfolio.

Wedgewood Partners mentioned UnitedHealth Group Incorporated in their Q3 2021 investor letter. Here is what they had to say:

“UnitedHealth Group detracted from performance due to investor concerns about Medicare premiums as well as post-COVID medical cost trends. Medicare enrollment should continue to grow at double-digits at UnitedHealthcare. Meanwhile the Company’s Optum segment should be able to help bend the cost curve if indeed post-COVID volumes pick up to above pre-COVID levels. In any case, we do not think the long-term normalized trend of medical care in the U.S. has changed substantially and would look to add to our new position on any continuing short-term concerns.”

8. AbbVie Inc. (NYSE:ABBV)

Coe Capital Management’s Stake Value: $2,711,000

Percentage of Coe Capital Management’s 13F Portfolio: 2.55%

Dividend Yield: 4.76%

Number of Hedge Fund Holders: 82

The next dividend stock to purchase according to Mark Coe’s Coe Capital Management is AbbVie Inc. (NYSE:ABBV), an American biopharmaceutical company that produces innovative medicines, conducts clinical trials, and explores the realm of medicine via extensive research. The company has several approved medicines and products, 75% of which are originally formulated by AbbVie Inc.. The therapeutic focus areas at AbbVie Inc. mainly include oncology, immunology, neuroscience, virology, and eye care.

As of the end of June, Coe Capital Management owns 24,071 shares in AbbVie Inc., valued at $2.7 million, representing 2.55% of Coe’s 13F portfolio.

AbbVie Inc. is a noteworthy stock in Coe’s Q2 portfolio, much like Amazon.com, Inc., Alphabet Inc., Facebook, Inc., and Apple Inc..

7. Waste Connections, Inc. (NYSE:WCN)

Coe Capital Management’s Stake Value: $2,748,000

Percentage of Coe Capital Management’s 13F Portfolio: 2.58%

Dividend Yield: 0.63%

Number of Hedge Fund Holders: 32

The seventh dividend stock to invest in according to Mark Coe is Waste Connections, Inc. (NYSE:WCN), a waste management company offering waste collection, transfer, disposal, and recycling services. Waste Connections, Inc. operates in the United States and Canada, and is the third largest North American waste management company. The company also offers non-hazardous oilfield waste treatment, recovery and disposal services in various basins throughout the US, and intermodal services for waste containers in the Pacific Northwest.

At the end of June, 32 hedge funds in Insider Monkey’s database reported owning stakes worth $763.8 million in Waste Connections, Inc. (WCN), up from 31 in the previous quarter with stakes worth $822.2 million. Ken Griffin’s Citadel Investment Group has a $123.7 million stake in Waste Connections, Inc. as of the end of June.

6. Apple Inc. (NASDAQ:AAPL)

Coe Capital Management’s Stake Value: $2,875,000

Percentage of Coe Capital Management’s 13F Portfolio: 2.70%

Dividend Yield: 0.61%

Number of Hedge Fund Holders: 138

Apple Inc. is the next stock on our list of dividend stocks to buy according to Mark Coe’s Coe Capital Management.

Coe Capital Management owns 20,992 shares in Apple Inc. as of the end of the second quarter, valued at $2.87 million, representing 2.70% of Coe’s 13F portfolio.

The tech giant is immensely popular with the smart money. 138 hedge funds tracked by Insider Monkey were bullish on Apple Inc. at the end of June, up from 127 in the previous quarter.

Evercore ISI analyst Amit Daryanani kept an Outperform rating on Apple Inc.’s shares, with a price target of $180 on October 15.

ClearBridge Investments mentioned Apple Inc. in its Q1 2021 investor letter. Here is what they said:

“As we actively manage holdings and position sizes, we look to regularly recycle capital into more compelling opportunities. Maintaining our valuation discipline, we sharply reduced our position in Apple, whose shares more than doubled following our initial purchase in mid-2019 with an earnings multiple rising from the low-to-mid teens to nearly 30x.”

5. Target Corporation (NYSE:TGT)

Coe Capital Management’s Stake Value: $3,068,000

Percentage of Coe Capital Management’s 13F Portfolio: 2.89%

Dividend Yield: 1.47%

Number of Hedge Fund Holders: 66

Target Corporation (NYSE:TGT) is the eighth largest American retail corporation, offering discounted prices to its customers.

Coe Capital Management owns 12,691 shares in Target Corporation as of the end of June, amounting to $3.06 million, and making up 2.89% of Coe’s 13F portfolio.

On October 14, Morgan Stanley analyst James Faucette kept an Overweight rating on the stock, with a price target of $140. Target Corporation’s FY2022 estimates look positive because of Affirm and Buy Now, Pay Later options provided to vendors and merchants, according to Faucette.

Nelson Capital Management mentioned Target Corporation in its Q2 2021 investor letter. Here is what they said:

“We added Target (tkr: TGT) to our consumer staples sector. Target offers a broad array of products in owned and known brand items at affordable prices. Its omni channel fulfilment centers allow customers to receive their items via in-store pickup, curbside pickup, same-day shipping and regular shipping while simultaneously reducing operating costs. With a significantly lower valuation than peers and a unique operating strategy, Target is an attractive holding.”

4. CME Group Inc. (NASDAQ:CME)

Coe Capital Management’s Stake Value: $3,071,000

Percentage of Coe Capital Management’s 13F Portfolio: 2.89%

Dividend Yield: 1.70%

Number of Hedge Fund Holders: 62

Coe Capital Management owns 14,441 shares in CME Group Inc. (NASDAQ:CME) as of the end of the second quarter, valued at $3.07 million, representing 2.89% of Coe’s 13F portfolio.

GuardCap Asset Management is the leading stakeholder in CME Group Inc., with 3.75 million shares worth $798.7 million. Overall, 62 hedge funds were bullish on CME Group Inc. at the end of June, up from 60 in the previous quarter.

Here is what Cooper Investors’ Global Equities Fund (Hedged) has to say about CME Group Inc. in their Q1 2021 investor letter:

“CME has been owned by the portfolio for five years. CME’s strategic positioning as a monopolistic global financial exchange operator will continue to afford the business a highly attractive margin profile. CME is well managed however we can no longer identify clear value latency opportunities for the management team to execute against and so decided to exit our position.”

3. Vanguard Total Bond Market Index Fund ETF Shares (NASDAQ:BND)

Coe Capital Management’s Stake Value: $3,108,000

Percentage of Coe Capital Management’s 13F Portfolio: 2.92%

Dividend Yield: 1.93%

Number of Hedge Fund Holders: 6

Vanguard Total Bond Market Index Fund ETF Shares (NASDAQ:BND) is the third stock on our extensive list of dividend stocks to buy according to Mark Coe’s Coe Capital Management. The ETF tracks the performance of a wide, market-weighted bond index. Vanguard Total Bond Market Index Fund ETF Shares offers investors extensive exposure to the taxable investment-grade bond market, with a high potential for investment income. The diversified ETF makes for an excellent medium to long term investment, with share values rising and falling modestly.

Coe Capital Management owns 37,831 shares in Vanguard Total Bond Market Index Fund ETF Shares as of the end of June, worth $3.1 million, making up 2.92% of Coe’s 13f portfolio.

6 hedge funds held stakes in Vanguard Total Bond Market Index Fund ETF Shares according to Insider Monkey’s elite database at the end of the second quarter. This is compared to the same number of hedge funds in the previous quarter as well.

Ken Griffin’s Citadel Investment Group held a $38.3 million stake in Vanguard Total Bond Market Index Fund ETF Shares at the end of June.

2. Abbott Laboratories (NYSE:ABT)

Coe Capital Management’s Stake Value: $3,298,000

Percentage of Coe Capital Management’s 13F Portfolio: 3.1%

Dividend Yield: 1.53%

Number of Hedge Fund Holders: 61

As of the end of the second quarter of 2021, 61 hedge funds reported owning stakes worth $4.36 billion in Abbott Laboratories (NYSE:ABT), down from 65 in the previous quarter, with stakes valued at $5.13 billion.

On October 14, Redburn analyst Simon Baker initiated coverage of Abbott Laboratories with a Neutral rating.

Polen Capital mentioned Abbott Laboratories in its Q2 2021 investor letter. Here is what they said:

“Abbott Laboratories was the lone detractor in the quarter as the company preannounced that revenue and earnings this year would be below their previous guidance. We still expect the company to grow earnings more than 20% this year and continue double-digit earnings growth in the years to come. However, weakness in COVID-19 testing revenue is primarily responsible for the guidance reduction. Abbott is a leader in multiple types of COVID-19 diagnostic tests, and the largely successful vaccine rollout globally is leading to less COVID testing than the company expected. Two years ago, these tests obviously accounted for $0 in revenue but recently accounted for nearly $10 billion in annualized revenues as of the fourth quarter of 2020. We have expected COVID testing revenues to decline sequentially every quarter and eventually level out at less than $1 billion per year. We are not surprised by the current reality, but the decline has been more rapid than what management had expected.

Abbott is a diversified medical products company with likely strong growth to come from its core businesses outside of COVID testing— our investment thesis was not dependent on pandemic related revenue. While the reduction in guidance is atypical for Abbott’s conversative management team, we do not believe it changes our long-term growth assumptions or the investment case in Abbott.”

1. JPMorgan Chase & Co. (NYSE:JPM)

Coe Capital Management’s Stake Value: $3,482,000

Percentage of Coe Capital Management’s 13F Portfolio: 3.28%

Dividend Yield: 2.4%

Number of Hedge Fund Holders: 108

JPMorgan Chase & Co. is a New York-based multinational investment bank and financial services corporation, incorporated in Delaware. As of 2021, JPMorgan Chase & Co. is the leading bank in the US, and the fifth largest bank worldwide according to total assets.

JPMorgan Chase & Co. is a popular stock among hedge funds. At the end of the second quarter, 108 funds were long JPMorgan Chase & Co., down from 111 in the previous quarter.

After the positive Q3 results, Barclays analyst Jason Goldberg kept an Overweight rating on JPMorgan Chase & Co., with a price target of $193, up from $187 on October 15.

Vltava Fund mentioned JPMorgan Chase & Co. in its Q3 2021 investor letter. Here is what the fund said:

“While all the previous names could be categorised as founder, continuing, or key shareholders, these last two names fall into the category of hired professional managers. This is actually the most numerous category among the bosses of large companies, but even among them there exist a number of individuals with exceptional long-term track records. In our view, these include also Jamie Dimon and Herman Gref.

We consider JP Morgan to be the strongest, largest, and most profitable bank in the world. It has not always been so, and the fact that it is what it is today can be attributed especially to its CEO Jamie Dimon. Dimon has spent his entire career in banking. He came to JP Morgan in a roundabout way in 2004 after the bank bought Bank One, of which he was CEO at the time. Since early 2006, Dimon has been CEO of the entire JP Morgan.

The quality and strength of JP Morgan under his leadership became fully apparent for the first time in 2008. Not only did JP Morgan help to stabilise the market by taking over the failing Bear Stearns in the spring of that year, but it was the only major US bank that did not require government assistance throughout the Great Financial Crisis and that was highly profitable even in the difficult year of 2008. Today, JP Morgan is even bigger, even more profitable, and even stronger than ever before. Many investors view banks with disdain, but a good bank with good management can be a very good long-term investment. From the time of its merger with Bank One in 2004 through the end of 2020, JP Morgan’s stock has outperformed even the S&P 500 index. The bank has earned a total net profit of USD 330 billion during this period, of which USD 232 billion has been paid out to shareholders in dividends and in share buybacks. I can recommend two books about Jamie Dimon: The House of Dimon and Last Man Standing.”

Follow Insider Monkey on Twitter