5 Best Consumer Cyclical Dividend Stocks to Buy Now

In this article, we will discuss 5 best consumer cyclical dividend stocks to buy now. If you want to read our detailed analysis of consumer stocks and their performance, go directly to read 11 Best Consumer Cyclical Dividend Stocks to Buy Now. 

5. Starbucks Corporation (NASDAQ:SBUX)

Dividend Yield as of November 1: 2.43%

Starbucks Corporation (NASDAQ:SBUX) is an American multinational coffeehouse company that has operations in over 80 countries around the world. In fiscal Q3 2022, the company reported an operating cash flow of roughly $1.3 billion, and its free cash flow came in at $841.3 million. Its revenue for the quarter saw an 8.7% growth from the same period last year at $8.1 billion.

On September 28, Starbucks Corporation (NASDAQ:SBUX) declared an 8.2% hike in its quarterly dividend to $0.53 per share. This was the company’s 12th consecutive year of dividend growth, which makes it one of the best dividend stocks to buy. As of November 1, the stock has a dividend yield of 2.43%.

In September, Piper Sandler raised its price target on Starbucks Corporation (NASDAQ:SBUX) to $92 with a Neutral rating on the shares, appreciating the company’s cultural reboot in the field and deeper understanding of their customers.

At the end of Q2 2022, 55 hedge funds tracked by Insider Monkey owned stakes in Starbucks Corporation (NASDAQ:SBUX), compared with 58 in the previous quarter. The collective value of these stakes is over $1.43 billion. Bridgewater Associates was one of the company’s leading stakeholders in Q2.

Polen Capital mentioned Starbucks Corporation (NASDAQ:SBUX) in its Q2 2022 investor letter. Here is what the firm has to say:

“Starbucks, which garners a lower weighting in the Portfolio, had slightly better than average three-month performance. Samestore sales were up double-digits in the U.S. and International exChina, with solid revenue growth across those regions. The company is experiencing cost pressures from wages and input costs though, and China same-store sales were down 23% due to zero-COVID policy restrictions and lockdowns.”