In this article we discuss the 5 best dividend stocks to buy according to Cathie Wood. If you want to read our detailed analysis of Wood‘s history, and hedge fund performance, go directly to the 10 Best Dividend Stocks to Buy According to Cathie Wood.
5. PACCAR Inc (NASDAQ: PCAR)
Number of Hedge Fund Holders: 28
Dividend Yield: 1.50%
PACCAR Inc (NASDAQ: PCAR) is a Washington-based company that makes and sells medium and heavy duty trucks. It was founded in 1905 and is placed fifth on our list of 10 best dividend stocks to buy according to Cathie Wood. PACCAR stock has offered investors returns exceeding 22% in the past year. The hedge fund run by Cathie Wood owns more than 3.1 million shares in the truck maker worth over $293 million, representing 0.58% of their portfolio. This holding was disclosed in the latest ARK Investment filing with the SEC.
PACCAR Inc (NASDAQ: PCAR) is among the best stocks in the ARK portfolio that pay a regular and healthy dividend to shareholders. In late April, PACCAR declared a quarterly dividend of $0.34 per share, a more than 6% increase from the previous dividend of $0.32 per share.
Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm AQR Capital Management is a leading shareholder in PACCAR Inc (NASDAQ: PCAR) with 1.1 million shares worth more than $109 million.
In its Q1 2020 investor letter, Diamond Hill Capital, an asset management firm, highlighted a few stocks and PACCAR Inc (NASDAQ: PCAR) was one of them. Here is what the fund said:
“Shares of truck manufacturer PACCAR, Inc. fell as the North American Class 8 market continued its cyclical decline, and the outlook for sales and production took another step back with the economic impact from the pandemic.”