5 High Yield Dividend Stocks to Buy According to Billionaire David Harding

3. Bed Bath & Beyond Inc. (NASDAQ: BBBY)

No. of Hedge Fund Holders: 33
Dividend Yield: 2.56%

This is a retail company that owns stores under multiple brand names, including Bed Bath & Beyond (BBB), buybuy BABY, Harmon and Harmon Face Values (Harmon), and Christmas Tree Shops (CTS). The brands sell various products, including food, furniture, apparel, home furnishings, baby products, beauty products, and more. 33 hedge funds owned BBB stock in Q4 2020, including D E Shaw, which had more than 6 million shares, making it BBB’s largest hedge fund shareholder. BBY is in our list of best dividend stocks of David Harding because of the consistent dividend hikes offered by the company offered the last several years.

BBB expects its Q1 revenue to grow by more than 40% to around $1.83 billion, which still lower than the consensus estimates of $1.92 billion. The company expects its full-year 2021 revenue to range between $8.0 billion to $8.2 billion. CFO recently acquired 20,000 common shares of BBB, increasing its stake in the company to 300,000 shares. Demand for products in its industrial segment and the anticipated revenue growth are among the reasons why BBB is among the best high yield dividend stocks according to David Harding.