1 Magnificent S&P Dividend Stock Down 28% to Buy and Hold Forever

Coffee chain (NASDAQ: SBUX) has proven to be a remarkably lucrative investment over its lifetime. Had you invested $10,000 at its initial public offering, you'd have over $3.4 million today. But even winning stocks fall into slumps, and Starbucks is currently in one, down roughly 28% from its former high.

So what gives? Starbucks has dealt with several issues, including new CEO leadership under Laxman Narasimhan. Additionally, the company has been trying to put out fires and persuade its workers not to unionize.

But history shows that now could be the time to buy the dip. I'll explain why you should consider buying Starbucks and holding the stock forever.

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Source Fool.com