Is Now the Time to Buy This Dividend King?
Elevated inflation readings and the introduction of interest rate hikes to get that inflation under control have led some investors to panic in 2022 and exacerbate a market sell-off. That rising concern helped pull the S&P 500 index down nearly 18% year to date and also lead to increased discussions about a possible recession.
Some stocks have fared much worse than the broader markets, but some are holding up quite well considering the macroeconomic headwinds that are blowing. When market fears elevate, investors tend to reallocate capital into recession-resistant sectors like consumer staples. That reallocation has helped stocks like Dividend King Hormel Foods (NYSE: HRL) to outperform the broader market. Hormel's stock is down just 1.4% year to date.
Given all the talk about recession and the fact that Hormel seems to be outperforming, should income investors buy the stock at its current share price? Let's pull up a plate and see what Hormel stock is serving.
Source Fool.com
