5 Best Momentum Stocks To Invest In

In this article, we discuss the 5 best momentum stocks to invest in. If you want to read our detailed analysis of these stocks, go directly to the 15 Best Momentum Stocks To Invest In.

5. Capital One Financial Corporation (NYSE: COF)

Number of Hedge Fund Holders: 59

Percentage Gain in Last Month: 15.23%

Capital One Financial Corporation (NYSE: COF) is a Virginia-based financial services holding company. It is placed fifth on our list of 15 best momentum stocks to invest in. On June 28, the firm declared a quarterly dividend of $0.60 per share, an increase of 50% compared to previous dividend of $0.40 per share. The forward yield was 1.49%. The dividend is payable to shareholders by August 20. The company has a market cap of close to $80 billion and posted more than $18 billion in revenue last year. 

On July 23, investment advisory BMO Capital reiterated an Outperform rating on Capital One Financial Corporation (NYSE: COF) stock and raised the price target to $184 from $176, highlighting that the strong second quarter earnings for the firm would spur growth.

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Harris Associates is a leading shareholder in Capital One Financial Corporation (NYSE: COF) with 6.5 million shares worth more than $828 million. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Capital One Financial Corporation (NYSE: COF) was one of them. 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. In financials, we increased our position in Capital One on the premise that a benign consumer credit environment should be sustainable in light of unprecedented government support.”