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10 Dividend Stocks to Buy According to Hoon Kim’s Quantinno Capital

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·7 min read
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  • TMO
  • HD
  • FCPT
  • MSFT
  • OMF
  • CTRE
  • SRC
  • UNM

In this article, we discuss the 10 dividend stocks to buy according to Hoon Kim’s Quantinno Capital based on Q3 holdings of the fund. If you want to skip our detailed analysis of Kim’s history, investment philosophy, and hedge fund performance, go directly to the 5 Dividend Stocks to Buy According to Hoon Kim’s Quantinno Capital.

Hoon Kim started his career as the Head of Quantitative Equity Research at Mellon Capital. Hoon Kim has also worked as a Principal in AQR's Global Stock Selection Group. He managed hundreds of institutional equities accounts and hedge fund strategies as the Head of Portfolio Construction and Implementation. He also served as a senior member of the GSS research team.

Hoon Kim founded Quantinno Capital, a New York-based hedge fund, in 2018. Across the North American markets, the hedge fund invests employing equity-market agnostic techniques.

In the third quarter of 2021, the hedge fund's 13F public stock portfolio was valued at $89.58 million, with a top 10 holdings concentration of 7.81%.

Hoon Kim likes to diversify his portfolio. His hedge fund has stakes in small and large companies with strong fundamentals and future growth potential. Some of these companies include Microsoft Corporation (NASDAQ:MSFT), The Home Depot, Inc. (NYSE:HD), and Thermo Fisher Scientific Inc. (NYSE:TMO).

Hoon Kim is bullish on the tech behemoth Microsoft Corporation (NASDAQ:MSFT). In the third quarter, he increased his holding in the firm by 27% to 1,331 shares worth $375,000. On October 16, Credit Suisse analyst Phil Winslow initiated coverage of Microsoft with an “Outperform” rating and gave a price target of $400.

Hoon Kim is also bullish on The Home Depot, Inc. (NYSE:HD), according to his hedge fund’s disclosed holdings data in the third quarter of 2021. The fund increased its holding in the company by 2% in the third quarter, with over 1,730 shares. On November 17, Truist analyst Keith Hughes increased his price target on Home Depot to $420 from $325 but kept a “Hold” rating on the shares.

Hoon Kim’s Quantinno Capital increased its hold in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4% in the third quarter, with 935 shares worth $534,000. SVB Leerink analyst Puneet Souda upgraded Thermo Fisher's price objective to $685 from $675 in October and rated the stock as “Outperform." The firm had another great quarter, according to the analyst.

Image by Nattanan Kanchanaprat from Pixabay

With this background in mind, let’s start our list of 10 dividend stocks to buy according to Hoon Kim’s Quantinno Capital. We used Kim’s 13F portfolio for Q3 2021 for this analysis.

Dividend Stocks to Buy According to Hoon Kim’s Quantinno Capital

10. Four Corners Property Trust, Inc. (NYSE:FCPT)

Quantinno Capital Stake Value: $302,000

Percentage of Quantinno Capital’s 13F Portfolio: 0.33%

Number of Hedge Fund Holders: 15

Dividend Yield: 4.53%

Four Corners Property Trust, Inc. (NYSE:FCPT) is a California-based real estate investment trust specializing in purchasing and leasing restaurant assets. In October, Four Corners Property Trust paid $1.7 million for a Carrabba's restaurant in Missouri.

In August, four Corners Property Trust was downgraded from "Strong Buy" to "Outperform" by Raymond James, with a price target of $30, down from $34.

15 hedge funds in our database held stakes in Four Corners Property Trust, Inc. at the end of the second quarter, compared to 18 funds in the previous quarter. Israel Englander’s Millennium Management is the company’s most significant stakeholder, with 636,528 shares worth $17.10 million.

Microsoft Corporation (NASDAQ:MSFT), The Home Depot, Inc. (NYSE:HD) and Thermo Fisher Scientific Inc. (NYSE:TMO) are some of the dividend stocks to buy according to Hoon Kim’s Quantinno Capital, along with Four Corners Property Trust, Inc. (NYSE:FCPT).

9. Unum Group (NYSE:UNM)

Quantinno Capital Stake Value: $520,000

Percentage of Quantinno Capital’s 13F Portfolio: 0.58%

Number of Hedge Fund Holders: 23

Dividend Yield: 4.55%

Unum Group (NYSE:UNM) is in the business of providing financial protection. The company's biggest stakeholder is Arrowstreet Capital, with 4.59 million shares worth $115.12 million.

In the third quarter of 2021, Unum Group had an EPS of $1.03, missing estimates by $0.12. The company’s revenue was $2.97 billion, below 1% year over year and beating estimates by $10 million. Tracy Benguigui, a Barclays analyst, boosted her price objective on Unum Group to $28 from $24 in October and maintained an “Underweight” rating on the stock.

According to our database, the number of Unum Group’s long hedge funds positions decreased at the end of the second quarter of 2021. As a result, 23 hedge funds hold a position in the company, compared to 33 funds in the first quarter.

8. CareTrust REIT, Inc. (NASDAQ:CTRE)

Quantinno Capital Stake Value: $603,000

Percentage of Quantinno Capital’s 13F Portfolio: 0.67%

Number of Hedge Fund Holders: 13

Dividend Yield: 5.12%

CareTrust REIT, Inc. (NASDAQ:CTRE) is a publicly listed, self-administered REIT specializing in the ownership, purchase, development, and leasing of senior's housing and healthcare-related assets. On November 18, RBC Capital analyst Michael Carroll lowered his price target on CareTrust REIT to $22 from $24 and maintained a “Sector Perform” rating on the shares. The analyst informs investors that his lower price forecast reflects larger CPI rent increases and a lower investment rate.

Hoon Kim’s Quantinno Capital currently holds 29,657 shares of CareTrust REIT, Inc. that amounts to $603,000. The company occupies 0.67% of the hedge fund's total portfolio. CareTrust REIT, Inc. recently announced a Q3 2021 dividend of $0.265 per share, consistent with the previous dividend payout.

CareTrust REIT, Inc. saw a decrease in hedge fund sentiment recently. The number of long hedge fund positions declined to 13 at the end of the second quarter compared to 15 positions in the previous quarter.

7. Spirit Realty Capital, Inc. (NYSE:SRC)

Quantinno Capital Stake Value: $497,000

Percentage of Quantinno Capital’s 13F Portfolio: 0.55%

Number of Hedge Fund Holders: 19

Dividend Yield: 5.38%

Spirit Realty Capital, Inc. (NYSE:SRC) is a Dallas-based net-lease real estate investment trust. The company announced a Q3 dividend of $0.638 per share, in line with the previous quarter's dividend payout.

John Khoury’s Long Pond Capital is the biggest stakeholder of Spirit Realty Capital, Inc., with $175.85 million stakes in the company. RBC Capital analyst Brad Heffern commenced coverage of Spirit Realty in September, giving the company a "Sector Perform" rating and a $53 price target.

Spirit Realty Capital, Inc. (NYSE:SRC) has also gained about 24.32% in the past twelve months and 20.59% year to date. In addition, hedge funds are loading up on Spirit Realty Capital, Inc., as Insider Monkey’s data shows that 19 hedge funds held stake in the company as of the end of the second quarter of 2021, compared to 18 funds in the previous quarter.

6. OneMain Holdings, Inc. (NYSE:OMF)

Quantinno Capital Stake Value: $304,000

Percentage of Quantinno Capital’s 13F Portfolio: 0.33%

Number of Hedge Fund Holders: 41

Dividend Yield: 5.5%

OneMain Holdings, Inc. (NYSE:OMF) is a holding company in the financial services industry that specializes in consumer loans and insurance. In October, BMO Capital analyst James Fotheringham trimmed his price target on OneMain Holdings to $60 from $65 and reiterated a “Market Perform” rating on the shares. In a research note, the analyst says that while the company's Q3 earnings were modest, loan yields are falling and operational expenditures are expanding faster than projected.

In the third quarter of 2021, OneMain Holdings, Inc. had an EPS of $2.37, beating consensus estimates by $2.28. The company’s revenue was $1.03 billion, up 10.2% year over year. Due to strong demand for its core loan products and good economic conditions, OneMain Holdings exceeded Q3 profits and revenue projections.

As of the end of the second quarter, 41 hedge funds in Insider Monkey’s database of 873 funds held stakes in OneMain Holdings, Inc. compared to 43 funds in the quarter earlier.

Just like Microsoft Corporation (NASDAQ:MSFT), The Home Depot, Inc. (NYSE:HD) and Thermo Fisher Scientific Inc. (NYSE:TMO), OneMain Holdings, Inc. (NYSE:OMF) is one of the dividend stocks in Hoon Kim’s Quantinno Capital portfolio.

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Disclosure: None. 10 Dividend Stocks to Buy According to Hoon Kim’s Quantinno Capital is originally published on Insider Monkey.