3. McDonald’s Corporation (NYSE: MCD)
Lerner’s Stake Value: $2,241,000
Percentage of Traci Lerner’s 13F Portfolio: 0.23%
Dividend Yield: 2.21%
Number of Hedge Fund Holders: 67
McDonald’s Corporation (NYSE: MCD) runs and licenses McDonald’s restaurants all over the world. The company was founded in 1940, and it stands third on the list of 10 best dividend stocks to buy according to Traci Lerner’s Chescapmanager. McDonald’s shares have gained 27.30% over the last 12 months.
On June 23, Wells Fargo initiated an “Outperform” rating on McDonald’s and increased its price target on the restaurant stock to $268 from $262. On June 25, Ivan Feinseth an analyst at Tigress Financial reiterated the stock as “Buy,” and has set the price target at $271.
Chescapmanager LLC added this stock to its portfolio in the latest quarter by buying 10,000 shares. In addition, hedge funds are loading up on McDonald’s Corporation (NYSE: MCD), as Insider Monkey’s data shows that 67 hedge funds held stakes in the company in the first quarter of 2021, compared to 62 funds a quarter earlier.
2. Bristol-Myers Squibb Company (NYSE: BMY)
Lerner’s Stake Value: $19,624,000
Percentage of Traci Lerner’s 13F Portfolio: 2.09%
Dividend Yield: 2.94%
Number of Hedge Fund Holders: 81
Bristol-Myers Squibb Company (NYSE: BMY) is a Fortune 500 company that makes treatments several diseases, including cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis and psychiatric disorders. The company was incorporated in 1887 and is ranked second on the list of 10 best dividend stocks to buy according to Traci Lerner’s Chescapmanager. Bristol-Myers currently has a $149.56 billion market capitalization. It delivered a 13.21% return in the past 12 months.
On June 29, Bristol Myers Squibb (NYSE: BMY) proclaimed that the European Commission approved Opdivo and Yervoy for the treatment of adult patients with metastatic colorectal cancer after first fluoropyrimidine-based mixed chemotherapy.
The hedge fund managed by Lerner owns 310,852 shares in the biopharmaceutical company worth $19.62 million, representing 2.09% of their portfolio. Legendary investor and billionaire Warren Buffett’s Berkshire Hathaway is the biggest stakeholder in Bristol-Myers Squibb Company (NYSE: BMY) out of the 886 hedge funds tracked by Insider Monkey, as in the first quarter of 2021. The Oracle of Omaha owns 31.03 million shares of the company, worth $1.96 billion.
Wedgewood Partners, in its fourth quarter of 2020 investor letter, mentioned Bristol-Myers Squibb Company. Here is what the fund has to say about Bristol-Myers Squibb Company in its letter:
“Bristol-Myers Squibb recently reported accelerating sales as much of the medical services industry returned to work. The Company continues to expect double-digit earnings growth over the next few years, driven by existing drugs, in addition to a broad pipeline of new drugs and indications. While the market remains fixated on a couple of patent expirations that could occur over the next several years, we think this is well-known at this point, yet the market still undervalues a couple of key acquisitions the Company has made in the past few years, particularly Celgene, which was acquired for a song.”
