Robert Pitts’ Steadfast Capital Portfolio: 5 Dividend Stock Picks

1. Fidelity National Information Services, Inc. (NYSE:FIS)

Steadfast Capital’s Stake Value: $407,293,000
Dividend Yield as of June 16: 2.07%
Number of Hedge Fund Holders: 68

Fidelity National Information Services, Inc. (NYSE:FIS) is an American payment service provider. The company provides services in credit and debit card processing, electronic banking, and check risk management. On June 13, Evercore ISI upgraded the stock to Outperform and increased its EPS estimates for the company to $7.36 in FY22, up from $7.32.

In Q1 2022, Fidelity National Information Services, Inc. (NYSE:FIS) posted an EPS of $1.47, exceeding expectations by $0.01. The company’s revenue of $3.49 billion also topped analysts’ estimates by $50 million. Fidelity National Information Services, Inc. (NYSE:FIS) currently pays a quarterly dividend of $0.47 per share, increasing it by 21% in January. The company did not raise its dividends in 2020 due to the pandemic-related financial clampdown. As of June 16, the stock’s dividend yield stood at 2.07%.

At the end of Q1 2022, Fidelity National Information Services, Inc. (NYSE:FIS) was the second-largest holding of Steadfast Capital. The hedge fund increased its position in the company by 19% during the quarter, taking its total stake to over $407.2 million. The company accounted for 6.99% of Robert Pitts’ portfolio.

According to Insider Monkey’s Q1 database, 68 hedge funds reported owning stakes in Fidelity National Information Services, Inc. (NYSE:FIS), down from 75 in the previous quarter. The consolidated value of these stakes is roughly $4 billion.

ClearBridge Investments mentioned Fidelity National Information Services, Inc. (NYSE:FIS) in its Q4 2021 investor letter. Here is what the firm has to say:

“Several encouraging macro trends are emerging in support of two areas outside tech: consumer spending and industrial production. Unlike in past recessions and recoveries, consumer balance sheets have actually improved dramatically since the onset of the pandemic. This should feed through to increased spending on services like travel, which should benefit companies tied to the reopening like Fidelity National Information Services. We expect the supply chain constraints contributing to inflation and goods shortages will begin to lessen with an ambitious rebuilding of inventories.”

You can also take a look at Top 10 Stocks To Buy According to Ken Heebner’s Capital Growth Management and 10 Best Gold Stocks with Dividends

Follow Insider Monkey on Twitter