Updating your Income stocks: Stanley Black & Decker Inc., Kraft Heinz Co. and Newell Brands Inc.

Article Excerpt

STANLEY BLACK & DECKER INC. $194 (www.stanleyblackanddecker.com) is a buy. The company will send $1.6 billion to buy the remaining 80% of garden equipment maker MTD Holdings that it doesn’t already hold. Owning 100% of this business will help Stanley increase its share of the expanding market for garden equipment. The purchase should also add $2.6 billion to its annual revenue of $16.8 billion. In addition, the company will raise your quarterly dividend by 12.9% for an annual rate of $3.16 a share yielding 1.6%. Stanley is a buy. KRAFT HEINZ CO. $37 (www.kraftheinzcompany.com) is a hold. The company has now completed the sale of its Nuts business, which includes the Planters, Cheez Curls, and Cheez Balls brands. It used the $3.35 billion in proceeds to pay down debt. As of June 26, 2021, it had $23.5 billion in long-term debt, a high 52% of its market cap. It also held cash of $3.9 billion. The company is also buying…