As the second quarter of the year passes, Pershing Square Capital has remained quiet for the most part, and has not added any new positions.
However, the hedge fund did manage to completely sell its stake in Netflix Inc NFLX of 3,109,965 shares over the second quarter of 2022.
After analyzing the 13F SEC filings, we can assume Pershing Square Capital is taking a bearish stance on the market as the fund went from holding eight positions at the beginning of the year to seven, while rebalancing its core positions in the second quarter of 2022.
Here are three dividend stocks Pershing Square Capital has continued holding since the first quarter of 2022.
Restaurant Brands International
Restaurant Brands International Inc QSR is offering a dividend yield of 3.65% or $2.16 per share annually making quarterly payments, with a solid track record of raising its dividends for seven consecutive years. Restaurant Brands International is one of the largest restaurant companies in the world, with a footprint that spans more than 28,000 restaurants and 100 countries, with its brand name restaurants including Burger King (19,250 units), Tim Hortons (5,300 units), and Popeyes Louisiana Kitchen (3,700 units).
Pershing Square Capital reduced its position in Restaurant Brands by 41,990 shares to 23,822,641 shares in the second quarter of 2022.
Lowe’s Companies Inc LOW is offering a dividend yield of 1.99% or $4.20 per share annually utilizing quarterly payments, with an amazing track record of raising its dividends over 48 years. Lowe’s is the second-largest home improvement retailer in the world, behind Home Depot Inc HD, operating 1,971 stores and servicing 230 dealer-owned stores throughout the United States and Canada.
Hedge fund manager Bill Ackman maintained the fund's position in Lowe’s at 10,207,306 shares since the first quarter of 2022.
Domino’s Pizza Inc DPZ is offering a dividend yield of 1.09% or $4.40 per share annually through quarterly payments, with a notable track record of raising its dividends over the past 10 years. Domino’s Pizza is the largest player in the global pizza market, ahead of Pizza Hut, Papa John's, and Little Caesars, with nearly 19,000 global stores across more than 90 international markets at the end of 2021.
Ackman’s Pershing Square Capital sold 6,719 shares of Domino’s Pizza after the first quarter of 2022, and is now holding 2,061,312 shares.
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