5 Best Consumer Discretionary Dividend Stocks To Buy According to Analysts

In this article, we discuss 5 best consumer discretionary dividend stocks to buy according to analysts. If you want to read our detailed analysis of the consumer discretionary sector and its performance in the past, go directly to read 10 Best Consumer Discretionary Dividend Stocks To Buy According to Analysts. 

5. Best Buy Co., Inc. (NYSE:BBY)

Upside Potential as of April 24: 15.5%

Best Buy Co., Inc. (NYSE:BBY) is an American consumer electronics retailer that offers related products and services to its consumers. On March 1, the company announced a 2.2% hike in its quarterly dividend to $0.94 per share. Through this increase, the company stretched its dividend growth streak to 11 years, which makes BBY one of the best dividend stocks on our list. The stock has a dividend yield of 5.08%, as of April 24.

According to Insider Monkey’s database of Q4 2023, 32 hedge funds held stakes in Best Buy Co., Inc. (NYSE:BBY), up from 28 in the previous quarter. The overall value of these stakes is nearly $310 million. With over 1 million shares, AQR Capital Management was the company’s leading stakeholder in Q4.

4. McDonald’s Corporation (NYSE:MCD)

Upside Potential as of April 24: 16.77%

McDonald’s Corporation (NYSE:MCD) is a multinational leading fast-food chain that deals in a wide variety of menu items and beverages. The company has been growing its dividends consistently for the past 47 years and offers a quarterly dividend of $1.67 per share. As of April 24, the stock has a dividend yield of 2.67%. With an upside potential of 16.7%, MCD is one of the best dividend stocks to buy according to analysts.

At the end of December 2023, 63 hedge funds in Insider Monkey’s database owned stakes in McDonald’s Corporation (NYSE:MCD), down from 70 in the previous quarter. The consolidated value of these stakes is over $2 billion.

3. NIKE, Inc. (NYSE:NKE)

Upside Potential as of April 24: 19.07%

NIKE, Inc. (NYSE:NKE) is next on our list of the best dividend stocks according to analysts with an upside potential of over 19%. The multinational footwear and apparel company offers a quarterly dividend of $0.37 per share for a dividend yield of 1.56%, as recorded on April 24. The company maintains a 22-year streak of consistent dividend growth.

As of the end of the December quarter of 2023, 69 hedge funds tracked by Insider Monkey held stakes in NIKE, Inc. (NYSE:NKE), which remained the same as in the previous quarter. These stakes are collectively valued at over $3.5 billion. With roughly 10 million shares, Fisher Asset Management was the company’s leading stakeholder in Q4.

2. Ross Stores, Inc. (NASDAQ:ROST)

Upside Potential as of April 24: 20.6%

Ross Stores, Inc. (NASDAQ:ROST) is a California-based discount store company that operates a chain of retail stores and offers a wide range of products. On March 5, the company declared a 9.7% in its quarterly dividend to $0.3675 per share. This was the company’s third consecutive dividend hike after reinstating its dividends in 2021. The stock has a dividend yield of 1.11%, as of April 24.

Insider Monkey’s database of Q4 2023 indicated that 50 hedge funds owned stakes in Ross Stores, Inc. (NASDAQ:ROST), compared with 54 in the previous quarter. The overall value of these stakes is more than $1.5 billion.

1. Starbucks Corporation (NASDAQ:SBUX)

Upside Potential as of April 24: 22.11%

With an upside potential of over 22%, Starbucks Corporation (NASDAQ:SBUX) tops our list of the best dividend stocks. The American multinational coffeehouse chain offers a quarterly dividend of $0.57 per share and has a dividend yield of 2.59%, as of April 24. The company’s dividend growth streak spans over 13 years.

At the end of December 2023, 59 hedge funds in Insider Monkey’s database held stakes in Starbucks Corporation (NASDAQ:SBUX), down slightly from 60 in the preceding quarter. These stakes have a total value of over $3.6 billion.

You can also take a look at 10 Best Multibagger Stocks to Buy Now and Cathie Wood’s Latest Stock Portfolio: Top 10 Stock Picks