In this article, we will take a look at the 5 best low priced stocks to buy now. To see more such companies, go directly to 15 Best Low Priced Stocks To Buy Now.
5. Amcor plc (NYSE:AMCR)
Number of Hedge Fund Holders: 24
Headquartered in Australia, Amcor (NYSE:AMCR) is a global packing company. In February, Amcor (NYSE:AMCR) declared a quarterly dividend of $0.1225 per share, in line with the previous dividend. Forward dividend yield at the time came in at 4.32%. The dividend is payable on March 21 to shareholders of record as of March 1.
During the six months ending December 31, 2022, Amcor (NYSE:AMCR)’s adjusted EPS came in at $0.37 beating estimates by $0.01. Revenue in the period jumped about 6% on a YoY basis to reach $7.35 billion.
At the end of the fourth quarter of 2022, 24 hedge funds tracked by Insider Monkey had stakes in Amcor (NYSE:AMCR). The total worth of these stakes was $258 million.
4. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)
Number of Hedge Fund Holders: 32
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is one of the notable low-priced stocks to buy now.
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) recently approved a whopping 35.8 billion reais in dividends for the fourth quarter.
However, Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) fell after the company said it plans to allocate 6.5 billoin reais of the dividends in a reserve, which could result in a dividend cut.
As of the end of the fourth quarter of 2022, 32 hedge funds tracked by Insider Monkey reported owning stakes in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR). The total value of these stakes was about $3.8 billion. The biggest stakeholder of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was Rajiv Jain’s GQG Partners which owns a whopping $2.2 billion stake in the company.
3. Energy Transfer LP (NYSE:ET)
Number of Hedge Fund Holders: 38
Energy Transfer LP (NYSE:ET) is one of the best low-priced stocks with a high dividend yield. Its attractive dividends have caused investors to flock to its shares over the past few months amid recession fears. Energy Transfer LP (NYSE:ET) has gained about 25% over the past 12 months.
At the end of the fourth quarter of 2022, 38 hedge funds out of the 943 funds tracked by Insider Monkey reported having stakes in Energy Transfer LP (NYSE:ET), up from 33 hedge funds in the previous quarter. The net worth of these stakes was $613 million. The biggest hedge fund stakeholder of Energy Transfer LP (NYSE:ET) is David Abrams’ Abrams Capital Management which has a $212 million stake in the company.
2. Barrick Gold Corporation (NYSE:GOLD)
Number of Hedge Fund Holders: 40
Barrick Gold Corporation (NYSE:GOLD) is one of the notable gold stocks investors have been buying amid the market turmoil that started in 2022. Recently Barrick Gold Corporation (NYSE:GOLD) declared a quarterly dividend of $0.10 per share. However, it was a decrease of about 33% from the previous dividend. Barrick Gold Corporation (NYSE:GOLD)’s board also approved a new program for the repurchase of up to $1.0 billion of the company shares over the next 12 months.
At the end of the fourth quarter of 2022, 40 hedge funds tracked by Insider Monkey reported owning stakes in Barrick Gold Corporation (NYSE:GOLD). The net worth of these stakes was $721 million.
Old West Management made the following comment about Barrick Gold Corporation (NYSE:GOLD) in its Q4 2022 investor letter:
“Barrick Gold Corporation (NYSE:GOLD) is the second largest gold miner in the world, with operations in the U.S., Canada, Africa, South America and more. Barrick is also a major copper producer. Former Goldman Sachs executive John Thornton took control of the company in 2012 and quickly realized he wanted someone with a mining background to run the company. Mark Bristow, at that time CEO of Randgold, was considered one of the best gold mining executives in the world. Thornton wanted Bristow so badly Barrick bought Randgold in 2018. Bristow who is South African, had extensive experience operating mines throughout Africa, and in fact would fly his own single engine plane to visit mines. He has his PhD in Geology, and he has flourished running Barrick the past five years.
Barrick is estimated to have $1.6 billion of net income this year on $11.5 billion of revenue. Net Income has been growing 15% per year. The stock trades at $19.00 per share which is 16 times forward earnings, and the stock has a 3.15% dividend yield. Barrick has a fortress balance sheet with $5.7 billion in cash and $5 billion of long term debt, which is only one time EBITDA”
1. Viatris Inc. (NASDAQ:VTRS)
Number of Hedge Fund Holders: 47
Generic and specialty pharmaceuticals company Viatris Inc. (NASDAQ:VTRS) became net-income positive in the fourth quarter of 2022 as it posted a net income (GAAP) of $1 billion for the period, compared to a net loss of $263.8 million posted in the same period last year.
As of the end of the fourth quarter of 2022, 47 hedge funds tracked by Insider Monkey had stakes in Viatris Inc. (NASDAQ:VTRS).
Miller Value Partners made the following comment about Viatris Inc. (NASDAQ:VTRS) in its Q4 2022 investor letter:
“Viatris Inc. (NASDAQ:VTRS) gained after reporting 3Q22 net sales of $4.07B, -10.0% Y/Y (-1% operationally), below consensus of $4.14B, and Adjusted EBITDA of $1.50B (36.8% margin), ahead of consensus of $1.44B. Free cash flow (FCF) for the quarter came in at $765.1MM, which brings trailing twelve-month (TTM) FCF to $2.88B, or a FCF yield of 22.9%. Viatris paid down ~$614MM of debt in the quarter, bringing YTD debt reduction to ~$2.1B, in-line with the company’s previously stated target of reducing debt by ~$6.5B between 2021-2023. Additionally, the company announced the acquisitions of two Ophthalmology (eyecare) companies, Oyster Point Pharma and Famy Life Sciences, for an aggregate purchase price of ~$700-750MM, with management expecting these transactions to add at least $1B in sales and $500MM in Adjusted EBITDA to Viatris by 2028.”
You can also take a peek at 30 Countries with the Highest GDP in 2022 and 11 Best Debt Free Stocks to Buy.
