5 Best Recession Stocks to Buy According to Wells Fargo

3. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 78

Comcast Corporation (NASDAQ:CMCSA) is receiving consensus Buy ratings from expert analysts and was also ranked among Wells Fargo’s top communication services stock picks for a recession. As of June 2, Benchmark analyst Matthew Harrigan has a $60 price target and Buy rating on Comcast Corporation (NASDAQ:CMCSA).

Comcast Corporation (NASDAQ:CMCSA) is an undervalued dividend-paying communication services stock to look into. As of June 22, the stock has a forward dividend yield of 2.79% and a PE ratio of 10.76. On May 10 the company’s board of directors declared a quarterly cash dividend of $0.27 per share, payable on July 27, to shareholders of record on July 6.

Insider Monkey found 78 hedge funds that were bullish on Comcast Corporation (NASDAQ:CMCSA) in the first quarter of 2022. These funds held collective stakes worth $7.12 billion in the company. 

As of March 31, First Eagle Investment Management is the leading shareholder in Comcast Corporation and has a total stake of $1.40 billion in the company.

Here is what ClearBridge Investments had to say about Comcast Corporation (NASDAQ:CMCSA) in its “All Cap Growth Strategy” fourth-quarter 2021 investor letter:

“Weakness among our holdings in the communication services sector was the other detractor to performance. Comcast was hurt by tepid subscriber growth in its broadband business but demonstrated strong growth in free cash flow, positioning the company for accelerated capital return going forward.”