5 Best Beaten Down Dividend Stocks to Buy

In this article, we discuss 5 best beaten down dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read 10 Best Beaten Down Dividend Stocks to Buy. 

5. The Hershey Company (NYSE:HSY)

Number of Hedge Fund Holders: 43
1-Year Share Price Decline as of October 18: 15.5%

The Hershey Company (NYSE:HSY) is an American multinational food and confectionery company that is involved in the production and marketing of various chocolate and confectionery products. The company currently pays a quarterly dividend of $1.192 per share, having raised it by 15% in July this year. Through this increase, the company took its dividend growth streak to 14 years. The stock has a dividend yield of 2.49%, as of October 18.

As of the end of Q2 2023, 43 hedge funds in Insider Monkey’s database owned stakes in The Hershey Company (NYSE:HSY), compared with 44 in the previous quarter. The collective value of these stakes is over $1.05 billion.

4. Morgan Stanley (NYSE:MS)

Number of Hedge Fund Holders: 54
1-Year Share Price Decline as of October 18: 3.55%

Morgan Stanley (NYSE:MS) is a global financial services firm that offers a wide range of financial and investment services. On October 17, the company declared a quarterly dividend of $0.85 per share, which was in line with its previous dividend. The stock’s dividend yield on October 18 came in at 4.54%.

As of the end of Q2 2023, 54 hedge funds tracked by Insider Monkey reported owning stakes in Morgan Stanley (NYSE:MS), up from 51 in the preceding quarter. The consolidated value of these stakes is more than $780.8 million. Among these hedge funds, Adage Capital Management was one of the company’s leading stakeholders in Q2.

3. Baxter International Inc. (NYSE:BAX)

Number of Hedge Fund Holders: 58
1-Year Share Price Decline as of October 18: 42.05%

Baxter International Inc. (NYSE:BAX) is an Illinois-based healthcare company that specializes in providing a wide range of products and services in the field of medical technology and pharmaceuticals. The company offers a quarterly dividend of $0.29 per share and has a dividend yield of 3.62%, as recorded on October 18. It has raised its dividends for five consecutive years.

The number of hedge funds tracked by Insider Monkey owning stakes in Baxter International Inc. (NYSE:BAX) grew to 58 in Q2 2023, from 55 in the previous quarter. The total value of these stakes is over $2.38 billion.

2. Abbott Laboratories (NYSE:ABT)

Number of Hedge Fund Holders: 62
1-Year Share Price Decline as of October 18: 2.60%

Abbott Laboratories (NYSE:ABT) is next on our list of the best beaten down dividend stocks. The multinational healthcare company has been growing its dividends for 51 years consistently and pays a quarterly dividend of $0.51 per share. The stock has a dividend yield of 2.13%, as of October 18.

The number of hedge funds owning stakes in Abbott Laboratories (NYSE:ABT) stood at 61 in Q2 2023, as per Insider Monkey’s database. The total value of stakes owned by these hedge funds is over $1.18 billion.

1. Thermo Fisher Scientific Inc. (NYSE:TMO)

Number of Hedge Fund Holders: 103
1-Year Share Price Decline as of October 18: 7.58%

Thermo Fisher Scientific Inc. (NYSE:TMO) is a leading global company in the fields of scientific research, healthcare, and life sciences. The company offers a per-share dividend of $0.35 every quarter and has a dividend yield of 0.30%, as of October 18. It has been rewarding shareholders with growing dividends for the past six consecutive years, which places it as one of the best dividend stocks on our list that have lost their value in the past year.

Thermo Fisher Scientific Inc. (NYSE:TMO) was a part of 103 hedge fund portfolios at the end of Q2 2023, up from 98 in the preceding quarter, as per Insider Monkey’s database. The total value of stakes owned by these hedge funds is roughly $7.2 billion.

You can also take a look at Jim Cramer’s 10 Best AI Stocks and 11 Best Green Stocks To Invest In 2023

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