5 Dividend Stocks to Buy According to Billionaire Carl Icahn’s Icahn Capital LP

3. Newell Brands Inc. (NASDAQ:NWL)

Icahn’s Capital Stake Value: $629,661,000
Dividend Yield as of September 8: 5.35%

Newell Brands Inc. (NASDAQ:NWL) is an American commercial company that deals in the manufacturing and marketing of consumer and commercial products. The company has not raised its dividend since 2017 but has been paying dividends to shareholders since 1994. It currently pays a quarterly dividend of $0.23 per share, with a dividend yield of 5.35%, as recorded on September 8.

This September, Raymond James maintained its Strong Buy rating on Newell Brands Inc. (NASDAQ:NWL) with a $23 price target. The firm acknowledged the company’s recent quarterly earnings and its guidance and also expects to see improvement in its restructuring.

In Q2 2022, Carl Icahn owned over 33 million shares in Newell Brands Inc. (NASDAQ:NWL), worth roughly $630 million. The company represented 3.01% of the billionaire’s portfolio. He started investing in the company during the first quarter of 2018 with shares worth over $771.5 million.

As of the close of Q2 2022, 22 hedge funds tracked by Insider Monkey owned $1.46 billion worth of stakes in Newell Brands Inc. (NASDAQ:NWL). In comparison, 31 hedge funds owned stakes in the company in the previous quarter, with a total value of over $1.64 billion.