Legendary Value Investor Joel Greenblatt’s 5 Dividend Stock Picks

In this article, we discuss 5 dividend stock picks of legendary value investor Joel Greenblatt. If you want to see some more dividend stocks in his portfolio, click Legendary Value Investor Joel Greenblatt’s 10 Dividend Stock Picks.

5. Walmart Inc. (NYSE:WMT)

Gotham Asset Management’s Stake Value: $20,199,000

Dividend Yield as of March 25: 1.56%

Number of Hedge Fund Holders: 63

Walmart Inc. (NYSE:WMT) is an American retailer that operates a chain of supercenters, supermarkets, and hypermarkets across the country. 13F filings for Q4 2021 show that Gotham Asset Management owns 139,600 shares of Walmart Inc. (NYSE:WMT), worth $20.1 million. The hedge fund elevated its position in the company by 3% in the fourth quarter. 

Walmart Inc. (NYSE:WMT)’s dividend yield on March 25 was 1.56%, and 2022 marks the 49th consecutive year of dividend increases by the company. On February 17, Walmart Inc. (NYSE:WMT) declared a $0.56 per share quarterly dividend, a 1.8% increase from its prior dividend of $0.55. The dividend is payable on April 4, to shareholders of record on March 18. 

On March 16, Morgan Stanley analyst Simeon Gutman stated that Walmart Inc. (NYSE:WMT)’s fintech startup, ONE, is creating an “affordable and broadly accessible digital platform”. He expects ONE to increase customer engagement and brand affinity to Walmart Inc. (NYSE:WMT)’s core retail business. The analyst considers this to be a revenue opportunity of $1.6 billion. He maintained an Overweight rating and a $167 price target on Walmart Inc. (NYSE:WMT) shares.

According to Insider Monkey’s Q4 data, GQG Partners is the biggest Walmart Inc. (NYSE:WMT) shareholder, with 10.4 million shares worth $1.50 billion. Overall, 63 hedge funds were bullish on the stock at the end of December 2021.