Jana Partnerthe activist hedge fund founded by Barry Rosensteinmade headlines in 2017 when it earned $300 million Amazon.com‘s AMZN Adoption of whole foods.
The fund’s top position is in Treehouse Food Inc. THS. Jana holds more than 5 million shares, accounting 19% of the portfolio.
Though Treehouse doesn’t offer a dividend, here are two other dividend-paying stocks Rosenstein’s hedge fund owns.
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- Conagra Brands Inc. KAG offers a dividend yield of 3.89%, or $1.32 per share annually, makes quarterly payments, and has a decent track record of increasing its dividends for two straight years. The Chicago-based packaged food company operates primarily in the United States and accounts for over 90% of its revenue and profits. Fiscal 2023 organic net sales growth of 4% to 5% compared to fiscal 2022 organic net sales of 3.8% and adjusted earnings per share growth of 1% to 5% compared to fiscal 2022 are expected.
- Holdings of Laboratory Corporation of America LH offers a dividend yield of 1.33%, or $2.88 per share annually using quarterly payments, with a mixed track record of growing its dividends. Based in Burlington, North Carolina, Laboratory has acquired approximately 20% of the independent laboratory market. The company operates approximately 2,000 patient service centers and offers a wide range of 5,000 clinical laboratory tests ranging from routine blood and urine tests to complex oncology and genomic tests. During the second quarter, Laboratory invested $99.8 million in acquisitions, paid $66.7 million in dividends and repurchased $400 million of stock, representing approximately 1.7 million shares. In addition, the guidance for adjusted earnings per share for the full year 2022 has been raised $19.00 to $21.25.
