2 Magnificent S&P 500 Dividend Stocks Down 19% and 41% to Buy and Hold Forever
The widely followed S 500 index includes some of the strongest companies in the world, and many of these industry leaders regularly distribute dividends to shareholders. Let's look at two elite S&P 500 companies that have seen their share prices stumble this year but that now sport yields that are more than double the average yield of the index.
The world's most popular coffee chain has received a lot of investor attention this year after the stock's recent nosedive. With around 39,000 stores worldwide, (NASDAQ: SBUX) is not immune to softness in consumer discretionary spending. It managed to skate through the inflationary environment over the last few years with double-digit percentage sales growth, but the macro headwinds might be catching up to the company.
Starbucks reported an unusual decline in revenue last quarter, mostly driven by an 11% decrease in comparable-store sales in China. That shortfall in sales sent the stock tumbling -- it's now 41% off its 2021 peak.
Source Fool.com
Starbucks Corp. Stock
The stock is an absolute favorite of our community with 23 Buy predictions and no Sell predictions.
As a result the target price of 98 € shows a positive potential of 43.7% compared to the current price of 68.2 € for Starbucks Corp..
