In this article, we discuss the 5 dividend stock picks of Ira Unschuld’s Brant Point Investment. If you want to read our detailed analysis of Unschuld’s history, investment philosophy, and hedge fund performance, go directly to the 10 Dividend Stock Picks of Ira Unschuld’s Brant Point Investment.
5. Advance Auto Parts, Inc. (NYSE:AAP)
Brant Point Investment Stake Value: $11,526,000
Percentage of Brant Point Investment’s 13F Portfolio: 0.99%
Number of Hedge Fund Holders: 35
Dividend Yield: 1.70%
Advance Auto Parts, Inc. (NYSE:AAP) sells auto parts in the United States. As of the third quarter of 2021, Ken Griffin’s Citadel Investment Group, with 591,694 shares worth $123.60 million, is the largest investor in Advance Auto Parts, Inc. (NYSE:AAP).
In an investor note issued in November, Raymond James analyst Bobby Griffin raised his price target on Advance Auto Parts, Inc. (NYSE:AAP) to $275 from $265 and kept a “Strong Buy” rating on the shares.
In the third quarter of 2021, Brant Point Investment held 55,177 shares of Advance Auto Parts, Inc. (NYSE:AAP).
4. Avient Corporation (NYSE:AVNT)
Brant Point Investment Stake Value: $5,666,000
Percentage of Brant Point Investment’s 13F Portfolio: 0.48%
Number of Hedge Fund Holders: 17
Dividend Yield: 1.72%
Avient Corporation (NYSE:AVNT) is a global maker of specialist polymer materials. Brant Point Investment holds 122,244 shares in the company worth over $5.67 million, representing 0.48% of their portfolio. In addition, Brant Point Investment has increased its stake in the firm by 50% in the third quarter of 2021.
Avient Corporation (NYSE:AVNT) declared a quarterly dividend of $0.2375 per share in October, up 11.8% from the previous dividend of $0.2125. Avient Corporation (NYSE:AVNT) reported earnings for the third quarter in October, posting earnings per share of $0.70, beating the estimates by $0.02 and revenue of $1.21 billion, up 30.9% compared to the revenue over the same period last year.
In the third quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $93.96 million in Avient Corporation (NYSE:AVNT), down from 20 in the previous quarter worth $145.69 million.
3. LKQ Corporation (NASDAQ:LKQ)
Brant Point Investment Stake Value: $10,891,000
Percentage of Brant Point Investment’s 13F Portfolio: 0.94%
Number of Hedge Fund Holders: 38
Dividend Yield: 1.75%
LKQ Corporation (NASDAQ:LKQ) manufactures alternative and specialty components for automobiles and other vehicles in the United States. In October, LKQ Corporation (NASDAQ:LKQ) declared its first quarterly dividend of $0.25 per share.
For the fiscal third quarter of 2021, LKQ Corporation reported an EPS of $1.02, exceeding market predictions by $0.16. (NASDAQ:LKQ). The company’s revenue was $3.3 billion, up 8.2% year over year and beating estimates by $30 million.
Bonsai Partners cited LKQ Corporation in its first-quarter 2021 investor letter. Here is what the fund said:
“LKQ is the largest provider of alternative collision and mechanical automotive parts in the United States. In Europe, they are the leading distributor of general automotive maintenance parts and supplies. Its shares appreciated 20.1% during the quarter.
During the quarter, LKQ shared its fourth-quarter results: showing a slight revenue decline and a nearly 30% increase in quarterly profit Vs. the same period last year. COVID has proved a surprising catalyst for my investment thesis which revolves around optimizing their recent large acquisitions that were never efficiently integrated.
Admittedly, in addition to LKQ’s quarterly performance, thematically, there has been broad enthusiasm for “re-opening” trades, of which, LKQ has been a beneficiary. Most importantly, the prior overhang related to LKQ’s debt burden is now all but behind us. Their net debt to EBITDA ratio now sits below 2x, a stark change from the near 3x leverage ratio before the pandemic. At that time, LKQ’s leverage had the potential to spiral upward to nearly 4-5x if the business experienced a prolonged shutdown. It’s good to be past this issue.”
2. Jack in the Box Inc. (NASDAQ:JACK)
Brant Point Investment Stake Value: $2,472,000
Percentage of Brant Point Investment’s 13F Portfolio: 0.21%
Number of Hedge Fund Holders: 26
Dividend Yield: 2.10%
Jack in the Box Inc. (NASDAQ:JACK) is a restaurant corporation located in San Diego that runs and franchises Jack in the Box restaurants, one of the nation’s largest hamburger chains.
On December 7, Baird analyst David Tarantino lowered his price target on Jack in the Box Inc. (NASDAQ:JACK) to $85 from $100 and kept a “Neutral” rating on the shares.
In the third quarter of 2021, Ira Unschuld decreased his stake in Jack in the Box Inc. (NASDAQ:JACK) by 19%.
1. Corning Incorporated (NYSE:GLW)
Brant Point Investment Stake Value: $3,284,000
Percentage of Brant Point Investment’s 13F Portfolio: 0.28%
Number of Hedge Fund Holders: 40
Dividend Yield: 2.56%
Corning Incorporated (NYSE:GLW) develops and produces specialized glass and ceramics. In October, Deutsche Bank analyst Matthew Niknam initiated coverage of Corning Incorporated (NYSE:GLW), rating the stock as “Buy” and gave a price target of $45.
Ira Unschuld began building his stake in Corning Incorporated (NYSE:GLW) back in the second quarter of 2020. After selling 55,278 shares of Corning stock in the third quarter, he now holds 90,000 shares worth about $3.28 million.
You can also take a peek at 10 Safe Dividend Stocks to Invest In and 10 Blue Chip Dividend Stocks with Over 8% Yield
