Top 5 Dividend Stocks Favored by Carolina Panthers Owner David Tepper

2. Macy’s, Inc. (NYSE:M)

Appaloosa Management LP’s Stake Value: $122,867,500
Dividend Yield as of February 23: 3.01%

Macy’s, Inc. (NYSE:M) ranks second on our list of top dividend stocks favored by David Tepper. The American department store company currently pays a quarterly dividend of $0.1575 per share, raising it by 5% in 2022. The stock has a dividend yield of 3.01%, as of February 23.

Appaloosa Management owned nearly 6 million shares in Macy’s, Inc. (NYSE:M) at the end of Q4 2022. The fund’s total stake in the company amounted to over $122.8 million, which made up 9.11% of its 13F portfolio.

Macy’s, Inc. (NYSE:M) was a popular stock among hedge funds in Q4 2022, as 41 funds in Insider Monkey’s database owned stakes in the company, up from 31 in the previous quarter. The collective value of these stakes is roughly $880 million.