3 Beaten-Down Dow Stocks to Buy Before They Pop
A new year is approaching, and that means investors are about to start hearing a lot more about dogs. That's because of the popular investing strategy called "the Dogs of the Dow," which focuses on buying the 10 Dow Jones Industrial Average components that have the highest yields. Because share prices and dividend yields generally move in opposite directions (absent a large change to a company's payout), the blue-chip stocks with the highest yields will likely have performed poorly in the past calendar year and could be trading at attractive valuations.
But we don't have to wait until the official end of 2023 to search for values in the Dow, whether they count as "dogs" or not. We can already see some good reasons to buy Procter Gamble (NYSE: PG), Coca-Cola (NYSE: KO), and Nike (NYSE: NKE) for 2024 and beyond. Let's find out a bit more about these three beaten-down Dow stocks.
Procter Gamble's 5% year-to-date stock price decline through mid-December was weak enough to make it the seventh-worst-performing stock on the Dow in 2023. That's as compared to the index's 12% rally over the same time.
Source Fool.com
