1 Magnificent S&P 500 Dividend Stock Down 33% to Buy and Hold Forever
Life is like a sine curve, with good times followed by bad times, and vice versa. That's how it goes for companies, too. Right now (NYSE: CLX), a member of the consumer staples segment in the S 500 index, is in a down swing. The stock is more than 33% below its 2020 high-water mark. That's pushed the yield toward the high end of its historical range, to around 3.2%.
Now is the time to consider adding this dividend stock to your portfolio, but before you do, it's worth understanding why Clorox is so far from its highs.
The pain at Clorox actually started as a positive. During the early days of the coronavirus pandemic, when consumers had a heightened focus on cleaning, Clorox products were flying off the shelves. In fact, the company was having a hard time keeping up with demand. It even brought in high-cost contract manufacturers to ensure it could produce enough to keep retailers' shelves full.
Source Fool.com
Clorox Co. Stock
Our community is currently low on Clorox Co. with 3 Buy predictions and 10 Sell predictions.
However, we have a potential of 0.16% for Clorox Co. as the target price of 125 € is above the current price of 124.8 €.
