In this article, we discuss the 5 best dividend stocks to buy according to Crispin Odey’s hedge fund. If you want to read our detailed analysis of Crispin Odey’s history, and hedge fund performance, go directly to the 10 Best Dividend Stocks to Buy According to Crispin Odey’s Hedge Fund.
5. The Procter & Gamble Company (NYSE: PG)
Odey’s Stake Value: $3,827,000
Percentage of Crispin Odey’s 13F Portfolio: 1.07%
Dividend Yield: 2.59%
Number of Hedge Fund Holders: 70
The Procter & Gamble Company (NYSE: PG) supplies branded consumer packaged goods to its customers. The company was incorporated in 1837 and stands fifth on the list of 10 best dividend stocks to buy according to Crispin Odey’s hedge fund. The Procter & Gamble stock has offered investors returns of 13.17% over the course of the past twelve months.
On June 23, UBS analyst Peter Grom initiated coverage on Procter & Gamble (NYSE: PG) with a “Neutral” rating and a price target of $138.00. On April 20, Procter & Gamble declared revenue for the first quarter of 2021. The company declared a revenue of $18.11 billion, up 5.2% YoY, beating the estimates by $150 million. On April 13, Procter & Gamble declared a quarterly dividend of $0.8698 per share, which was 10% more than the prior dividend of $0.7907.
Odey Asset Management Group holds 28,258 shares in the company worth $3.83 million, representing 1.07% of their portfolio. Odey has trimmed stakes in the firm by 8% in the past few months. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Trian Partners is a leading shareholder in Procter & Gamble with 8.88 million shares worth $1.20 billion, representing 14.22% of their portfolio.
4. Johnson & Johnson (NYSE: JNJ)
Odey’s Stake Value: $2,531,000
Percentage of Crispin Odey’s 13F Portfolio: 0.7%
Dividend Yield: 2.59%
Number of Hedge Fund Holders: 81
Johnson & Johnson (NYSE: JNJ) manufactures and trades a range of healthcare products. It was founded in 1886 and is placed fourth on our list of 10 best dividend stocks to buy according to Crispin Odey’s hedge fund. Johnson currently has a $432.43 billion market capitalization and was able to deliver a 19.16% return in the past twelve months.
On June 25, European Medicines Agency approved an additional manufacturing site in Italy to manufacture the COVID-19 vaccine developed by Johson. The decision by EMA’s committee for human medicines will increase the supply of JNJ’s single-use shot in Europe. On April 20, Johnson & Johnson (NYSE: JNJ) declared a quarterly dividend of $1.06 per share, a 5% increase from its prior dividend of $1.01. On May 28, Morgan Stanley initiated coverage on Johnson with an “Overweight” rating and a price target of $187.00.
Odey Asset Management Group holds 15,400 shares in the company worth $2.53 million, representing 0.7% of their portfolio. Arrowstreet Capital is the biggest stakeholder in the company, with over 9 million shares worth $1.48 billion.
3. ConocoPhillips (NYSE: COP)
Odey’s Stake Value: $5,059,000
Percentage of Crispin Odey’s 13F Portfolio: 1.41%
Dividend Yield: 2.81%
Number of Hedge Fund Holders: 51
ConocoPhillips (NYSE: COP) is a multinational company, which manufactures, transports, and sells crude oil, bitumen, natural gas, and liquefied natural gas. The company was incorporated in 1917 and stands third on the list of 10 best dividend stocks to buy according to Crispin Odey’s hedge fund. ConocoPhillips stock has returned 51.95% to investors during the course of the past twelve months.
Chevron Corporation (NYSE: CVX), ConocoPhillips (NYSE: COP), Devon Energy Corporation (NYSE: DVN), and EOG Resources, Inc. (NASDAQ: EOG) and few other private equity houses bid for some or all of Shell’s Permian assets. The companies are seeing continued profits in shale. On May 7, Raymond James analyst Pavel Molchanov upgraded ConocoPhillips (NYSE: COP) from “Outperform” to “Strong Buy” with a price target of $85. On May 4, the company declared its earnings per share for the first quarter of 2021. The company announced earnings per share of $0.69, beating the market estimates by $0.16. ConocoPhillips also announced its revenue and other income of $9.83 billion, up 59.6% YoY, beating the estimates by $1.53 billion.
The hedge fund chaired by Crispin Odey holds 95,500 shares in the company worth $5.06 million. Odey Asset Management increased its stake in the company by 36% in the first quarter of 2021. At the end of the first quarter of 2021, 51 hedge funds in the database of Insider Monkey held stakes worth $1.21 billion in ConocoPhillips (NYSE: COP), up from 49 the preceding quarter worth $687.39 million.
ClearBridge Investments, in their Q1 2021 investor letter, mentioned ConocoPhillips. Here is what the fund said:
“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names (including) ConocoPhillips. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”
2. Bristol-Myers Squibb Company (NYSE: BMY)
Odey’s Stake Value: $2,317,000
Percentage of Crispin Odey’s 13F Portfolio: 0.64%
Dividend Yield: 2.96%
Number of Hedge Fund Holders: 81
Bristol-Myers Squibb Company (NYSE: BMY) is a biopharmaceutical company, which discovers, develops, licenses, and sells its products globally. The company was founded in 1887 and is placed second on the list of 10 best dividend stocks to buy according to Crispin Odey’s hedge fund. Bristol-Myers shares have gained about 15.99% over the last twelve months.
On June 25, Bristol-Myers Squibb Company (NYSE: BMY) announced that Committee for Medicinal Products for Human Use recommended approval of Opdivo for the treatment of adult patients with gastroesophageal cancer. On June 17, the company declared its quarterly dividend of $0.49 per share in line with the previous. The forward yield is 2.96%.
The hedge fund managed by Crispin Odey owns 36,700 shares in the biopharmaceutical company worth $2.32 million, representing 0.64% of their portfolio. Legendary investor and billionaire Warren Buffett’s Berkshire Hathaway is the biggest stakeholder in Bristol-Myers Squibb Company (NYSE: BMY) out of the 887 hedge funds tracked by Insider Monkey, as in the first quarter of 2021. The Oracle of Omaha owns 31.03 million shares of the company, worth $1.96 billion.
Generation PMCA, in their third quarter 2020 investor letter, mentioned Bristol-Myers Squibb. Here is what the fund said:
“Bristol Myers Squibb is a leading biopharmaceutical company focused on oncology, autoimmune diseases, cardiovascular diseases, and fibrosis. The market has been overly concerned with the loss of exclusivity of Revlimid in 2 years and Eliquis in 5 years. We believe the company has the ability to offset these patent expirations via M&A (it recently announced the acquisition of MyoKardia) and its compelling pipeline, including TYK-2, Opvido, Ozanimod, and Zeposia. To account for the risks associated with drug development and M&A, our valuation models assume zero growth after the next 5 years. The company has a 2.9% dividend yield and our FMV is $75.”
1. Newell Brands Inc. (NASDAQ: NWL)
Odey’s Stake Value: $1,000
Percentage of Crispin Odey’s 13F Portfolio: 0.001%
Dividend Yield: 3.45%
Number of Hedge Fund Holders: 24
Newell Brands Inc. (NASDAQ: NWL) is an American company, which designs, produces, and distributes consumer and commercial products globally. It was founded in 1903 and ranks first on the list of 10 best dividend stocks to buy according to Crispin Odey’s hedge fund. Newell stock has returned 76.88% to investors over the course of the past twelve months.
On June 23, UBS analyst Peter Grom initiated coverage on Newell Brands with a “Buy” rating and a price target of $33.00. On May 4, Newell Brands declared a quarterly dividend of $0.23 per share, in line with the previous. The forward yield is 3.45%. On April 30, Newell Brands (NASDAQ: NWL) declared earnings per share for the first quarter of 2021. The company declared earnings per share of $0.30, beating market predictions by $0.17. The revenue for the first three months of 2021 was $2.29 billion, up 21.2% YoY, beating the estimates by $220 million.
Newell Brands Inc. (NASDAQ: NWL) is a new addition in billionaire Crispin Odey’s hedge fund portfolio, as Odey Asset Management bought 52 shares of the company, worth $1000. Out of the hedge funds being tracked by Insider Monkey, Southport Management is a leading shareholder in Newell with 45,000 shares worth more than $1.21 billion.
You can also take a peek at 10 Best Cryptocurrencies to Invest in According to Hedge Fund Billionaires and 10 Biggest Hedge Fund Failures.
