Bargain Hunting With $100? This New S&P 500 Dividend Stock Is a No-Brainer to Buy on the Dip
After recently spinning off from its parent company, Johnson and Johnson, consumer health specialist Kenvue (NYSE: KVUE) immediately faced the harsh reality of being a stand-alone business on the publicly-traded markets. Down 18% in a few months, the pure-play consumer health stock seemed to garner little interest from investors.
However, this is not an uncommon occurrence among spin-offs. Often, the split removes a slower-growing or "less interesting" portion of the business to let the more exciting growth story shine -- hopefully garnering it a higher valuation in the process. This appears to be the case with Kenvue as its steady but underwhelming sales growth somewhat impaired the higher growth potential within Johnson and Johnson's pharmaceutical and medical technology segments.
Despite this slower growth, there is still a lot to like about Kenvue and its multitude of big-name brands, especially at its discounted price. Here's what makes Kenvue a perfect bedrock dividend stock for investors with a spare $100 to spend.
Source Fool.com
