A Once-in-a-Decade Opportunity: 1 Magnificent S&P 500 Dividend Stock Down 45% to Buy Right Now
This Steady Eddie compounder is down 45% from its 52-week high, and its president and CEO is buying shares.
Overview
It isn't an everyday occurrence to see an S&P 500 dividend growth stock trading near a 52-week low while its president and CEO is actively buying shares. But that is exactly the case with leading rural lifestyle retailer Tractor Supply Company (NASDAQ: TSCO).
As a Steady Eddie, S&P 500 stock with a 15-year streak of raising its dividend, Tractor Supply was already on my radar. However, after seeing that its president and CEO, Hal Lawton, was buying $500,000 worth of the company's shares, I thought it was a good time to revisit the stock while it trades near a once-in-a-decade valuation.
Details
While it can be a mistake to read too much into an insider transaction, the recent buying from Tractor Supply's top banana stands out -- especially since the purchases appear to be made with their own personal money. As famed investor Peter Lynch once explained, "Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
Source
Originally published at www.fool.com.