5 Worst Performing Dividend Stocks YTD

In this article, we discuss 5 worst performing dividend stocks year-to-date. If you want to read our detailed analysis of dividend stocks and their performance this year, go directly to read 15 Worst Performing Dividend Stocks YTD. 

5. Nu Skin Enterprises, Inc. (NYSE:NUS)

Year-to-Date Share Price Drop as of September 13: 46.1%

Nu Skin Enterprises, Inc. (NYSE:NUS) is a global direct-selling company that specializes in personal care products and dietary supplements. faced challenges from COVID-19 at the beginning and more recently from a difficult economic environment. This resulted in lower sales and a reduced outlook for 2023. NUS fell by 46.1% year-to-date, as of September 13, becoming one of the worst performing dividend stocks on our list.

The number of hedge funds tracked by Insider Monkey owning stakes in Nu Skin Enterprises, Inc. (NYSE:NUS) grew to 18 in Q2 2023, from 11 in the previous quarter. The overall value of these stakes is roughly $64.8 million. Among these hedge funds, Marshall Wace LLP was the company’s leading stakeholder in Q2.

4. Dollar General Corporation (NYSE:DG)

Year-to-Date Share Price Drop as of September 13: 49.2%

A chain of discount variety stores, Dollar General Corporation (NYSE:DG) is next on our list of the worst performing dividend stocks this year. The company’s shares tumbled as it lowered its sales and profit outlook for the year due to challenges like reduced consumer spending on non-essential items and rising theft issues.

Dollar General Corporation (NYSE:DG) holds a five-year streak of consistent dividend growth and currently pays a quarterly dividend of $0.59 per share. The stock’s dividend yield on September 13 came in at 1.97%.

As of the close of Q2 2023, 57 hedge funds in Insider Monkey’s database reported having stakes in Dollar General Corporation (NYSE:DG), up from 53 in the previous quarter. The consolidated value of these stakes is over $1.62 billion.

Aristotle Atlantic Partners mentioned Dollar General Corporation (NYSE:DG) in its Q2 2023 investor letter. Here is what the firm has to say:

“We sold our position in Dollar General, following a weaker-than-expected quarterly earnings report and a lowered earnings outlook. The company’s core consumer, while still employed, continues to be impacted by higher inflation. Additionally, we saw the negative impacts of lower-than-expected tax refunds and reductions in the Federal Supplemental Nutrition Assistance Program (SNAP). Dollar General remained committed to spending on customer experience and investing in price to help their customers through the tougher economic environment, as a result, reducing the earnings guidance by a greater amount than the sales reductions.”

3. First Horizon Corporation (NYSE:FHN)

Year-to-Date Share Price Drop as of September 13: 52.25%

First Horizon Corporation (NYSE:FHN) is an American financial services company that suffered a decline in its share price due to the ongoing banking crisis. The stock is down by 52.2% so far this year, which makes it one of the worst performing dividend stocks on our list. The company pays a quarterly dividend of $0.15 per share and has a dividend yield of 5.23%, as of September 13.

At the end of June 2023, 50 hedge funds owned stakes in First Horizon Corporation (NYSE:FHN), as per Insider Monkey’s database. The collective value of these investments is over $958.6 million.

2. Foot Locker, Inc. (NYSE:FL)

Year-to-Date Share Price Drop as of September 13: 53.04%

Foot Locker, Inc. (NYSE:FL) is an American footwear and sportswear retailer operating in over 28 countries worldwide. The company’s share price fell as it slashed its fiscal year outlook twice this year due to a consistent decline in its comparable store sales. The stock delivered a negative return of 53.04% to shareholders so far this year, becoming one of the worst-performing dividend stocks in 2023.

Foot Locker, Inc. (NYSE:FL) was a part of 20 hedge fund portfolios at the end of Q2 2023, according to Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $409.7 million.

1. Advance Auto Parts, Inc. (NYSE:AAP)

Year-to-Date Share Price Drop as of September 13: 62.08%

Advance Auto Parts, Inc. (NYSE:AAP) is an automotive aftermarket parts retailer. The company operates a chain of retail stores and an online platform, serving customers across the US. It has been reporting mixed quarterly earnings this year, falling behind analysts’ estimates. On top of that, the company also trimmed its quarterly dividend by 83% and currently pays a quarterly dividend of $0.25 per share. As of September 13, the stock has a dividend yield of 1.73%.

According to Insider Monkey’s database of Q2 2023, 32 hedge funds owned stakes in Advance Auto Parts, Inc. (NYSE:AAP), down from 38 in the previous quarter. The overall value of these stakes is over $500.5 million.

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