Happy Monday!

We have a great week of investing in front of us!

Today, I’m going to analyze 2 high quality dividend growth stocks which are trading at a potential discount. Each may prove to be a good long term buying opportunity, given their weakness so far year to date. On top of this, I share some of the best dividend increases and news from the week.

Let’s do this!

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THE KEY STORY (2 Top Dividend Growth Stocks)

1) Hershey Is a Dividend Growth Machine To Own Forever | HSY Stock Review

Hershey's Stock Overview

Hershey stock has seen a significant drop from its high of $276 to $182, offering a starting dividend yield of 3.01%. Known for its dividend growth, Hershey has had multiple 15% dividend increases in the past year.

Financial Highlights

• Current Stock Price: $182

• Earnings per Share (EPS): $10.10 (trailing 12 months)

• PE Ratio: 18.03

• Dividend Yield: 3.01%

• Valuation: $36.8 billion

2024 Financial Outlook

• Net Sales Growth: 2% to 3%

• Earnings per Share Growth: 0%

• Capital Expenditures: $600 to $650 million

• Projected EPS: $9 to $9.11 (GAAP), flat at $9.59 (adjusted)

Investment Consideration

Hershey remains a strong, well-run business with a dominant market position, particularly in the confectionery sector. Despite recent challenges, the company continues to offer a reliable dividend and growth potential, making it a solid consideration for long-term investors.

2) Is Accenture a Top Dividend Stock To Buy In 2024? | ACN Stock Analysis

Accenture Overview

Accenture (ACN) has been a consistent performer in the market, renowned for its dividend growth and robust long-term earnings. Recently, the company reported earnings that led to a 7.29% increase in its stock price. Despite a price decline since March 2024, Accenture's financial health remains strong.

Financial Highlights

• Current Stock Price: $308.98.

• Earnings per Share: $11 (trailing 12 months).

• PE Ratio: Approximately 28.

• Dividend Yield: 1.69%, with a forward-looking dividend payment of $5.16 per share.

• Valuation: $194.26 billion.

Outlook for 2024

• Revenue Growth (Y/Y): Expected to be between 2% to 6% for Q4.

• Full Fiscal Year Growth: Expected to be around -0.7%.

• Free Cash Flow: Expected between $8.7 billion to $9.3 billion.

Investment Consideration

Accenture remains a solid dividend growth stock, despite recent slowdowns. The company’s focus on AI and other high-growth areas positions it well for the future. It's a stock to watch closely for potential investment opportunities.

THE VIDEO

Goldman Sachs Raises S&P 500 Year End Forecast

Goldman Sachs Chief Equity Strategist, David Kostin, joined CNBC to discuss the investment bank’s decision to raise their year end target of the S&P 500 to $5,600.

Make sure to check out the full video above!

THE NEWS

Academy Sports, Darden, Oracle,

1. Academy Sports Stock Falls After Earnings Miss. Its CEO Is Undaunted. (Barron’s)

2. Fast-food customers are shifting to casual-dining chains, Darden Restaurants CEO says (CNBC)

3. How Walmart Stock Can Predict the Next Recession (Barron’s)

4. Oracle Is Shutting Down Its Ad Business  (AdWeek)

NOTABLE DIVIDEND INCREASES

Chimera, Delta, Darden

• $CIM — Chimera Investment declares $0.35/share quarterly dividend, 6.1% increase from prior dividend of $0.33.

• $DAL — Delta Air Lines declares $0.15/share quarterly dividend, 50% increase from prior dividend of $0.10.

• $DRI — Darden Restaurants declares $1.40/share quarterly dividend, 6.9% increase from prior dividend of $1.31.

Source: Dividend Data

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Benefits of Membership:

• Stock Screener: Easily find and analyze the best dividend stocks.

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• Exclusive Insights: Get access to detailed research and analysis on top dividend stocks.

SOMETHING FUN

Is the Popcorn Sharing Crackdown Next?

Thanks for the read! Let me know what you thought by replying back to this email.

— Zach

Disclaimer: Dividend Dividend Weekly (Dividend Data) is not a professional financial service. All materials released from Dividend Data Weekly (Dividend Data) are for educational and entertainment purposes. Dividend Data Weekly (Dividend Data) is not a replacement for a professional's opinion. Contributors to the Dividend Data Weekly (Dividend Data) might have equities mentioned in the newsletter