Beat Inflation With These 3 High-Yielding Dividend Stocks In Defensive Sector From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
The article discusses the appeal of high-yielding dividend stocks in the consumer staples sector during market uncertainty. It highlights three stocks with recent analyst ratings and price target adjustments: Philip Morris International Inc. (PM), Conagra Brands, Inc. (CAG), and Kellanova (K). The analysts mentioned have high accuracy rates and have provided ratings and revised price targets for these companies, which have also reported their latest financial results.
December 07, 2023 | 1:01 pm
News sentiment analysis
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NEGATIVE IMPACT
Kellanova (K) has a dividend yield of 4.17%. Morgan Stanley and Piper Sandler analysts maintained ratings but lowered price targets to $57. Kellogg reported a slight sales decline in Q3 FY23.
The sales decline and reduced price targets could negatively impact investor sentiment in the short term, despite the decent dividend yield. The stock may face downward pressure.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Conagra Brands, Inc. has a dividend yield of 4.76%. Morgan Stanley and Jefferies analysts maintained ratings but lowered price targets to $29 and $28, respectively. ConAgra reported upbeat earnings for Q1.
The positive earnings report for Q1 could counterbalance the negative sentiment from reduced price targets. The high dividend yield is a plus, suggesting a neutral short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Philip Morris International Inc. has a dividend yield of 5.71%. Analysts from Morgan Stanley and Barclays maintained Overweight ratings but cut price targets to $113 and $100, respectively. The company reported a 13.8% sales growth in Q3 FY23.
While the price target cuts could suggest a cautious outlook, the Overweight ratings and solid sales growth indicate a stable performance. The high dividend yield remains attractive, but the mixed signals may lead to a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80