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

4. The Kraft Heinz Company (NASDAQ:KHC)

Dividend Yield as of June 20: 4.50%
Number of Hedge Fund Holders: 35
Levin Capital Strategies’ Stake Value: $3,981,000

The Kraft Heinz Company (NASDAQ:KHC) is one of the world’s leading food companies that provides high-quality food products to its consumers. At the end of Q1 2022, Levin Capital owned 101,066 shares in the company, valued at nearly $4 million. The hedge fund sold off its entire stake in the company twice since 2015 and resumed its position in 2018 with a comparatively larger stake of over $84.5 million. KHC accounted for 0.38% of John A. Levin’s portfolio in Q1.

In the past month, The Kraft Heinz Company (NASDAQ:KHC) saw a 7.27% drop in its share price due to the commentary on price hikes in the consumer staples sector. However, in June, BofA mentioned that the stock is currently offering an attractive entry point and also that it expects a meaningful upside in its shares in the next 12 months. The firm raised its price target on the stock to $48, with a Buy rating on the shares.

On April 27, The Kraft Heinz Company (NASDAQ:KHC) declared a quarterly dividend of $0.40 per share, with a yield of 4.50%,  as recorded on June 20. Though the company cut its dividend by 36% in 2019, it has maintained regular dividend payouts for shareholders over the years.

As of the quarter ended in March 2022, 35 hedge funds in Insider Monkey’s database owned stakes in The Kraft Heinz Company (NASDAQ:KHC), down from 39 in the previous quarter. The collective value of these stakes is over $13.44 billion. Warren Buffett’s Berkshire Hathaway owned the largest position in the company, with stakes valued at roughly $13 billion.