Has This Beaten-Down Dividend Stock Become a No-Brainer Buy?
Amidst a falling stock market, keep a particular eye on declining dividend stocks. Not only could they be potential deals, but investors also have the opportunity to secure higher-than-usual dividend yields. If a company's business isn't in trouble and the dividend is safe, a beaten-down stock could make for an excellent long-term investment.
Walgreens Boots Alliance (NASDAQ: WBA) is an intriguing stock for these reasons. Its shares have plummeted more than 30% in the past year (the S&P 500 is down just 13%), and the healthcare stock is now trading around where it was 10 years ago. Has it become a steal of a deal?
Walgreens stores have benefited from an uptick in traffic over the past few years because its locations have been convenient places for people to receive COVID-19 vaccinations. And the pharmacy retailer is looking to give its customers more reasons to visit its stores. One such way is through a $5.2 billion investment in primary care company VillageMD. Walgreens is planning to launch hundreds of clinics at its stores, which could make them one-stop shops for healthcare services.
Source Fool.com
