In this article, we will discuss 10 dividend stocks to buy according to Mark Coe’s Coe Capital Management. If you want to skip our detailed analysis of Mark Coe’s history, investment philosophy, and hedge fund performance, go directly to 5 Dividend Stocks to Buy According to Mark Coe’s Coe Capital Management.
Mark Coe is the managing member of the Highland Park-based Coe Capital Management, a successful hedge fund that was established in 1999. Coe’s hedge fund currently has 97 high net worth clients, discretionary assets under management valued at $176.5 million, and a portfolio worth $123.7 million.
Coe is primarily interested in information technology, healthcare, finance, consumer discretionary, and communications stocks, and these sectors represent a majority of his Coe’s 13F portfolio. The top ten holdings make up 32.23% of the portfolio.
Among the most notable stocks in Coe’s Q2 2021 portfolio are Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), Facebook, Inc. (NASDAQ:FB), and Apple Inc. (NASDAQ:AAPL).
Our Methodology
With this context in mind, let’s discuss 10 dividend stocks to buy according to Mark Coe’s Coe Capital Management.
These dividend stocks are picked from the Q2 portfolio of Coe Capital.
Photo by Nathan Dumlao on Unsplash
Dividend Stocks to Buy According to Mark Coe’s Coe Capital Management
10. The TJX Companies, Inc. (NYSE:TJX)
Coe Capital Management’s Stake Value: $2,368,000
Percentage of Coe Capital Management’s 13F Portfolio: 2.23%
Dividend Yield: 1.62%
Number of Hedge Fund Holders: 56
The TJX Companies, Inc. (NYSE:TJX) is an American multinational discount department store corporation, with flagship brands like TJ Maxx, Marshalls, HomeGoods, HomeSense, and Sierra under its domain, operational in the United States and Canada. The Massachusetts-based retail mega-corporation is traded as a S&P 500 Component. The TJX Companies, Inc. (NYSE:TJX) is one of the top dividend stocks to buy according to Mark Coe’s Coe Capital Management, with a dividend yield of 1.62%.
Coe Capital Management owns 35,129 shares in The TJX Companies, Inc. (NYSE:TJX) as of the end of the second quarter, valued at $2.36 million, representing 2.23% of Coe’s 13F portfolio.
On October 14, Loop Capital analyst Laura Champine downgraded The TJX Companies, Inc. (NYSE:TJX) from Buy to Hold, setting the price target at $65, down from $80.
Like Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), Facebook, Inc. (NASDAQ:FB), and Apple Inc. (NASDAQ:AAPL), The TJX Companies, Inc. (NYSE:TJX) is a notable stock in Coe’s Q2 portfolio.
Qualivian Investment Partners mentioned The TJX Companies, Inc. (NYSE:TJX) in their Q2 2021 investor letter. Here is what they said:
“TJX Companies: While it still outperformed the S&P 500, TJX landed in the bottom three as its stock’s tepid performance reflected the broader underperformance of stocks levered to post-COVID reopening. These were muted in the quarter given the resurgence of COVID cases due to the Delta variant. Its actual results, which it reported on August 18th, were outstanding, beating across the board on both top and bottom lines and showing strong operating leverage in the operating profit line. Same store sales were up an impressive 20% overall. We remain very confident in TJX’s moat in that its treasure hunt format is hard to replicate for the likes of Amazon and Walmart.”
9. UnitedHealth Group Incorporated (NYSE:UNH)
Coe Capital Management’s Stake Value: $2,558,000
Percentage of Coe Capital Management’s 13F Portfolio: 2.41%
Dividend Yield: 1.35%
Number of Hedge Fund Holders: 105
UnitedHealth Group Incorporated (NYSE:UNH) is one of the top dividend stocks to buy according to Mark Coe’s Coe Capital Management. UnitedHealth Group Incorporated (NYSE:UNH) is a Minnesota-based healthcare and insurance multinational company. It is the largest insurance company by net premiums, and the eighth largest company by revenue. UnitedHealth Group Incorporated (NYSE:UNH) has a market cap of $402.79 billion, and ranks eighth on the Fortune Global 500 list as of 2021.
Coe Capital Management owns 6,389 shares in UnitedHealth Group Incorporated (NYSE:UNH) as of the second quarter of 2021, valued at $2.5 million, and making up 2.41% of Coe’s 13F portfolio.
On October 15, Evercore ISI analyst Michael Newshel kept an Outperform rating on the stock and raised the price target to $480 from $360. He stated that the Q3 earnings and the company outlook for 2022 met expectations.
Like Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), Facebook, Inc. (NASDAQ:FB), and Apple Inc. (NASDAQ:AAPL), UnitedHealth Group Incorporated (UNH) is a good investment according to Coe’s Q2 portfolio.
Wedgewood Partners mentioned UnitedHealth Group Incorporated (NYSE:UNH) in their Q3 2021 investor letter. Here is what they had to say:
“UnitedHealth Group detracted from performance due to investor concerns about Medicare premiums as well as post-COVID medical cost trends. Medicare enrollment should continue to grow at double-digits at UnitedHealthcare. Meanwhile the Company’s Optum segment should be able to help bend the cost curve if indeed post-COVID volumes pick up to above pre-COVID levels. In any case, we do not think the long-term normalized trend of medical care in the U.S. has changed substantially and would look to add to our new position on any continuing short-term concerns.”
8. AbbVie Inc. (NYSE:ABBV)
Coe Capital Management’s Stake Value: $2,711,000
Percentage of Coe Capital Management’s 13F Portfolio: 2.55%
Dividend Yield: 4.76%
Number of Hedge Fund Holders: 82
The next dividend stock to purchase according to Mark Coe’s Coe Capital Management is AbbVie Inc. (NYSE:ABBV), an American biopharmaceutical company that produces innovative medicines, conducts clinical trials, and explores the realm of medicine via extensive research. The company has several approved medicines and products, 75% of which are originally formulated by AbbVie Inc. (NYSE:ABBV). The therapeutic focus areas at AbbVie Inc. (NYSE:ABBV) mainly include oncology, immunology, neuroscience, virology, and eye care.
As of the end of June, Coe Capital Management owns 24,071 shares in AbbVie Inc. (NYSE:ABBV), valued at $2.7 million, representing 2.55% of Coe’s 13F portfolio.
AbbVie Inc. (NYSE:ABBV) is a noteworthy stock in Coe’s Q2 portfolio, much like Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), Facebook, Inc. (NASDAQ:FB), and Apple Inc. (NASDAQ:AAPL).
7. Waste Connections, Inc. (NYSE:WCN)
Coe Capital Management’s Stake Value: $2,748,000
Percentage of Coe Capital Management’s 13F Portfolio: 2.58%
Dividend Yield: 0.63%
Number of Hedge Fund Holders: 32
The seventh dividend stock to invest in according to Mark Coe is Waste Connections, Inc. (NYSE:WCN), a waste management company offering waste collection, transfer, disposal, and recycling services. Waste Connections, Inc. (NYSE:WCN) operates in the United States and Canada, and is the third largest North American waste management company. The company also offers non-hazardous oilfield waste treatment, recovery and disposal services in various basins throughout the US, and intermodal services for waste containers in the Pacific Northwest.
At the end of June, 32 hedge funds in Insider Monkey’s database reported owning stakes worth $763.8 million in Waste Connections, Inc. (WCN), up from 31 in the previous quarter with stakes worth $822.2 million. Ken Griffin’s Citadel Investment Group has a $123.7 million stake in Waste Connections, Inc. (NYSE:WCN) as of the end of June.
6. Apple Inc. (NASDAQ:AAPL)
Coe Capital Management’s Stake Value: $2,875,000
Percentage of Coe Capital Management’s 13F Portfolio: 2.70%
Dividend Yield: 0.61%
Number of Hedge Fund Holders: 138
Apple Inc. (NASDAQ:AAPL) is the next stock on our list of dividend stocks to buy according to Mark Coe’s Coe Capital Management.
Coe Capital Management owns 20,992 shares in Apple Inc. (NASDAQ:AAPL) as of the end of the second quarter, valued at $2.87 million, representing 2.70% of Coe’s 13F portfolio.
The tech giant is immensely popular with the smart money. 138 hedge funds tracked by Insider Monkey were bullish on Apple Inc. (NASDAQ:AAPL) at the end of June, up from 127 in the previous quarter.
Evercore ISI analyst Amit Daryanani kept an Outperform rating on Apple Inc. (NASDAQ:AAPL)’s shares, with a price target of $180 on October 15.
ClearBridge Investments mentioned Apple Inc. (NASDAQ:AAPL) in its Q1 2021 investor letter. Here is what they said:
“As we actively manage holdings and position sizes, we look to regularly recycle capital into more compelling opportunities. Maintaining our valuation discipline, we sharply reduced our position in Apple, whose shares more than doubled following our initial purchase in mid-2019 with an earnings multiple rising from the low-to-mid teens to nearly 30x.”
Click here to continue reading and see 5 Dividend Stocks to Buy According to Mark Coe’s Coe Capital Management.
Suggested articles:
- 10 Key Earnings Reports to Watch
- 10 Best Solar Energy Stocks to Buy Today
- Carl Icahn’s Stock Portfolio: Top 12 Picks
Disclosure: None. Dividend Stocks to Buy According to Mark Coe’s Coe Capital Management is originally published on Insider Monkey.
