In this piece, we’ll take a look at the 5 Best Affordable Stocks Under $30. For more such companies, go to 15 Best Affordable Stocks Under $30.
5. Albertsons Companies, Inc. (NYSE:ACI)
Price as of December 01: $20.97
Forward P/E ratio as of December 01: 6.99
Number of Hedge Fund Holders: 34
Albertsons Companies, Inc. (NYSE:ACI) is a major grocery and drug retailer in the United States. Groceries, general merchandise, beauty and health care products, pharmacy, petrol, and other things and services are available at the company’s food and drug retail outlets.
Albertsons Companies, Inc. (NYSE:ACI) reported results for the second quarter of 2022 on October 18, 2022. The company’s revenue stood at $17.9 billion during the quarter, while the Normalized EPS was reported at $0.72.
As per Insider Monkey’s database, 34 hedge funds remained bullish on Albertsons Companies, Inc. (NYSE:ACI) at the end of the third quarter. Cerberus Capital Management had the biggest stake in the company at the end of the third quarter.
4. Energy Transfer LP (NYSE:ET)
Price as of December 01: $12.44
Forward P/E ratio as of December 01: 6.98
Number of Hedge Fund Holders: 33
Energy Transfer LP (NYSE:ET) company provides natural gas pipeline transmission and transportation services. The company sells natural gas-independent power plants to electric utilities, local distribution and other marketing organizations, and industrial end-users. Energy Transfer LP (NYSE:ET) has approximately 12000 employees.
On November 01, 2022, Energy Transfer LP (NYSE:ET) reported results for Q3 2022, recording revenue of $22.9 billion for the quarter. The company’s Normalized EPS of $0.35 beat the market estimate by $0.09.
According to Insider Monkey’s database, 33 hedge funds had stakes in Energy Transfer LP (NYSE:ET) at the end of the September quarter. Abrams Capital Management remained the leading stakeholder of the company at the end of the third quarter.
Miller Value Partners, an investment firm, talked about Energy Transfer L.P. (NYSE:ET) in its Q2 2021 investor letter. Here is what the fund said:
Energy Transfer LP (ET) rose over the period along with the price of oil climbing 40.59% over the period. The company received positive news that the Dakota Access Pipeline project would not be shut down while the Environmental Impact Statement by the US Army Corps of Engineers is drawn up. Energy Transfer reported strong 1Q results with revenue of $17B surpassing expectations for $11.8B with adjusted earnings before income, taxes, depreciation and amortization (EBITDA) hitting $5.04B ahead of consensus of $2.77B. The company raised full year adjusted EBITDA guidance to $12.9-13.3B from $10.6-11.0B previously, with the increase largely related to the benefits realized from Winter Storm Uri. The company paid down $3.7B in debt during the quarter, using strong cash flow to reduce leverage. The company also announced the issuance of $900M in 6.5% Series H perpetual preferreds with the company using the proceeds to repay debt and for general purposes.
3. Coterra Energy Inc. (NYSE:CTRA)
Price as of December 01: $27.81
Forward P/E ratio as of December 01: 6.29
Number of Hedge Fund Holders: 39
Coterra Energy Inc. (NYSE:CTRA) is an independent oil and gas company based in the United States that specializes in developing, exploring, and producing oil, natural gas, and natural gas liquids. The Permian Basin, Marcellus Shale, and Anadarko Basin are all areas where the company operates.
On October 25, 2022, Derrick Whitfield, an analyst at Stifel, resumed coverage of Coterra Energy Inc. (NYSE:CTRA) with a price target of $40. The analyst currently has a Buy rating on the stock and, in a research note, stated that the company offers an attractive mix of value and quality.
As per Insider Monkey’s database, 39 hedge funds owned stakes in Coterra Energy Inc. (NYSE:CTRA) at the end of the third quarter. Diamond Hill Capital remained the leading stakeholder of the company at the end of Q3 2022.
Here is what Palm Valley Capital had to say about Coterra Energy Inc. (NYSE:CTRA) in its second-quarter 2022 investor letter:
We sold two Fund positions during the quarter which includes Coterra Energy (NYSE:CTRA). As a result of surging oil and natural gas prices, Coterra reached our valuation, and we exited the position in April.
2. Macy’s, Inc. (NYSE:M)
Price as of December 01: $23.62
Forward P/E ratio as of December 01: 5.59
Number of Hedge Fund Holders: 31
Macy’s, Inc. (NYSE:M) is an omnichannel retailer with stores, websites, and mobile applications. The company provides a wide range of merchandise, including clothing, accessories, cosmetics, home furnishings, and other consumer goods.
On November 18, 2022, Paul Lejuez, an analyst at Citi, increased his price target on Macy’s, Inc. (NYSE:M) to $25. The analyst believes that the company’s Q3 results were better than expected, and Macy’s, Inc. (NYSE:M) offers a balanced risk/reward ratio at current price levels.
According to Insider Monkey’s database, 31 hedge funds held shares of the company at the end of the third quarter of 2022. Arrowstreet Capital was the most bullish fund on the company’s stock at the end of Q3 2022.
1. Viatris Inc. (NASDAQ:VTRS)
Price as of December 01: $10.97
Forward P/E ratio as of December 01: 3.39
Number of Hedge Fund Holders: 50
Viatris Inc. (NASDAQ:VTRS) is a multinational pharmaceutical and healthcare company based in the United States. The business is divided into Developed Markets, Greater China, JANZ, and Emerging Markets. Viatris Inc. (NASDAQ:VTRS) provides prescription brand medications, generic medications, complex generic medications, biosimilars, and active pharmaceutical components.
On November 07, 2022, Viatris Inc. (NASDAQ:VTRS) reported results for Q3 2022, posting revenue of $4.07 billion for the quarter, missing the market estimate by $70 million. The company’s Normalized EPS of $0.87 beat the market estimate by $0.04.
50 hedge funds are currently bullish on Viatris Inc. (NASDAQ:VTRS) as per Insider Monkey’s database. Camber Capital Management had the leading stake in the company at the end of Q3 2022.
Miller Value Partners mentioned Viatris Inc. (NASDAQ:VTRS) in its recently-published Q3 2022 investor letter. Here is what the firm has to say:
Viatris Inc. (NASDAQ:VTRS) fell 17.8%2 during the quarter. Viatris reported 2Q22 revenue of $4.12 billion, -3% Y/Y on an operational basis, below consensus of $4.19 billion, and diluted EPS of $0.26, compared to a net loss per share of -$0.23 in 2Q21, ahead of analyst expectations for EPS of $0.19. The company generated 2Q22 FCF of $718.6 million, bringing TTM FCF to $3,082.9 million, or a FCF yield of 26.6%. In the 1H22, Viatris retired $1.5 billion in debt, which puts the company well on track to achieve its FY22 debt paydown target of $2.0 billion. While the company lowered FY22 revenue guidance to be in a range of $16.2-16.7 billion, compared to previous guidance for revenue of $17-17.5 billion, this revision is solely attributable to the incremental impact of FX headwinds. The company reaffirmed FY22 guidance for Adjusted EBITDA of $5.8-6.2 billion (36.5% margin at midpoint) and FCF of $2.5-2.9 billion, or a forward FCF yield of 23.3%. The company generated approximately $84 million in new product revenues in 2Q22, bringing 1H22 revenues to $205 million, which were primarily driven by interchangeable Semglee in the US, and the company remains on track to achieve ~$600 million (3.7% of FY22 guided revenue at the midpoint) in FY22 new product revenues.
You can also take a look at 15 Biggest Jewelry Companies in the World and 15 Biggest Holding Companies in the World.
