In this article, we discuss the 5 best dividend stocks to buy according to James Parsons’ Junto Capital Management. If you want to read our detailed analysis of Parsons’ history and hedge fund performance, go directly to the 10 Best Dividend Stocks to Buy According to James Parsons’ Junto Capital Management.
5. The Procter & Gamble Company (NYSE: PG)
Parsons’ Stake Value: $35,919,000
Percentage of James Parsons’ 13F Portfolio: 1.29%
Dividend Yield: 2.58%
Number of Hedge Fund Holders: 70
The Procter & Gamble Company (NYSE: PG) supplies branded consumer packaged commodities to customers. The company was founded in 1837 and stands fifth on the list of 10 best dividend stocks to buy according to James Parsons’ Junto Capital Management. The Procter & Gamble shares have gained 12.84% over the last 12 months.
On June 23, UBS initiated a coverage on the stock and rated it as “Neutral,” setting a price target of $138. On April 20, Procter & Gamble posted earnings per share for the fiscal third quarter of 2021. The company declared earnings of $1.26, beating the market predictions by $0.07. The revenue for the third quarter of 2021 was $18.11 billion, up 5.2% YoY, beating the estimates by $150 million. On April 13, Procter & Gamble (NYSE: PG) announced a quarterly dividend of $0.8698 per share, which was a 10% increase from its prior dividend of $0.7907.
The stock is a new arrival on James Parsons’ portfolio, as his hedge fund bought about 265,222 shares of the company, worth $35.92 million. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Trian Partners is the biggest stakeholder of the company with 8.88 million shares, worth $1.20 billion.