General Mills, Inc. (GIS), Cablevision Systems Corporation (CVC) & More: Billionaire Mario Gabelli’s +3% Yielders

GAMCO trimmed its stake in Dr. Pepper Snapple Group Inc. (NYSE:DPS) by a small amount, to 2.5 million shares as of the end of December. Statistically, the soft drink company actually posts a negative beta (-0.2) and so clearly Dr. Pepper Snapple Group Inc. (NYSE:DPS) does not need a strong economy to prosper either. Its dividend yield is about even with that of General Mills, Inc. (NYSE:GIS), at 3.2%.We’d note that the trailing P/E of 16 represents a discount to larger soda companies, though at least in its last quarterly report versus a year earlier there was little growth. Billionaire Ken Griffin’s Citadel Investment Group was another major shareholder (research more stocks Griffin likes).

According to the 13F, the fund owned 3.5 million shares of Diebold Incorporated (NYSE:DBD), the $1.8 billion market cap provider of ATMs, other self-service kiosks, voting machines, and security services, among other products. The stock is down 24% in the last year on struggling operations (which have caused the dividend yield to rise to 3.9%; Wall Street analysts expect a recovery and so the forward P/E is 13. In early March we reported on an insider purchase at the company (read our analysis of the insider purchase at Diebold).

Disclosure: I own no shares of any stocks mentioned in this article.