1 Magnificent S&P 500 Dividend Stock Down 20% to Buy and Hold Forever
It's been a lackluster three years for shareholders of The Home Depot (NYSE: HD). Whereas the S&P 500 is up 19%, Home Depot stock is only up 3%. Moreover, shares of Home Depot hit all-time highs in 2021 and are now down about 20% from their peak.
The lackluster three-year returns for Home Depot stock are in stark contrast to its life-changing 30-year returns. If you bought shares of Home Depot in April 1994, your investment is up more than 3,500%, turning a $10,000 investment into more than $360,000.
For much of the past 30 years, Home Depot was expanding its footprint. It's a mature business today, which means returns over the next 30 years will likely be much lower than in the past. However, here are three simple reasons this can still be a stock to buy and hold forever.
Source Fool.com
