2 Dow Jones Stocks Down Over 20% I'd Buy on the Dip
These blue chips are down but continue to pay generous dividends to shareholders.
Overview
The Dow Jones Industrial Average tracks 30 industry leaders, making it a useful benchmark for identifying solid investments. Two Dow members I've been watching are Home Depot (NYSE: HD) and McDonald's (NYSE: MCD). These stocks are trading more than 20% off their highs, sending their dividend yields up. Here's what I like about each company's competitive position to justify buying the dip.
Image source: Home Depot.
Home Depot is the leading home improvement retailer, and a sluggish housing market has weighed on sales, pushing the stock 25% below its 2024 all-time high of $431 per share. The dip has also lifted the forward dividend yield to 2.84%, based on its $2.33 quarterly payment.
Details
Source
Originally published at www.fool.com.