5 High-Yield Dividend Stocks to Buy According to John A. Levin’s Levin Capital

In this article, we discuss 5 high-yield dividend stocks to buy according to John A. Levin’s Levin Capital. If you want to read our detailed analysis of Levin’s hedge fund and its past performance, go directly to read 10 High-Yield Dividend Stocks to Buy According to John A. Levin’s Levin Capital. 

5. International Paper Company (NYSE:IP)

Dividend Yield as of June 20: 4.37%
Number of Hedge Fund Holders: 27
Levin Capital Strategies’ Stake Value: $4,052,000

International Paper Company (NYSE:IP) is an American paper company that specializes in filter-based packaging and pulp. The company transforms renewable resources into everyday products. In Q1 2022, the company reported strong results, posting an EPS of $0.76, which beat estimates by $0.20. The company’s revenue for the quarter stood at $5.2 billion, showing a 14.2% year-over-year growth and exceeding the consensus by $280 million.

In October 2021, International Paper Company (NYSE:IP) slashed its quarterly dividend by 10% as it started making some business adjustments. Currently, the company offers a quarterly dividend of $0.4625 per share, with a dividend yield of 4.37%, as of June 20.

During Q1 2022, Levin Capital purchased additional IP shares worth over $3 million, boosting its position in the company by 300%. The hedge fund owned a stake worth over $4.05 million in the company in Q1, which represented 0.39% of John A. Levin’s portfolio. In April, Deutsche Bank lifted its price target on International Paper Company (NYSE:IP) to $48 but kept a Hold rating on the shares, raising concerns about weaker consumer sentiment, inflation, and the uncertain geopolitical situation.

At the end of March 2022, 27 hedge funds tracked by Insider Monkey reported owning stakes in International Paper Company (NYSE:IP), declining from 38 in the previous quarter. The collective value of these stakes is over $633.4 million. With roughly 5 million shares worth $230.5 million, Greenhaven Associates owned the largest position in the Tennessee-based company in Q1.