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Every portfolio should include reliable dividend stocks as a way to supplement your income. And the top dividend stocks to buy in June could reward investors with gains of up to 280%...
Best of all, our top dividend stocks for June all have products their customers need. No matter what the stock market does, no matter what's in the news, people will wake up and buy these companies' products. Over and over again.
Because of those steady sales, these dividend stocks have a ton of upside while paying reliable dividends at the same time.
And if the market goes south, consumer staples often weather the storm better than other industries. Fidelity says consumer staples have been one of the least volatile sectors since the early 1960s - No. 2, in fact.
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Best of all, each of the stocks we'll show you today pay high yields and have low payout ratios. Finally, each one is undervalued right now.
Read on to find our top three dividend stocks to buy in June, including one that could more than triple your money...
Top Dividend Stocks to Buy in June, No. 3
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General Mills Inc. (NYSE: GIS) has been around since 1866. Roughly 20 years after its inception, its flour won a prize at the Millers' International Exhibition, in Cincinnati. The winner was promptly dubbed Gold Medal flour, and you'll see that name when you buy it on grocery shelves today.
Plus, if you or a family member has ever eaten Wheaties, Cheerios, or Lucky Charms for breakfast, or Bisquick, Green Giant, Betty Crocker, Pillsbury, Häagen-Dazs ice cream, Cascadian Farm, and Annie's Homegrown any time of day, you've eaten a GIS product.
It doesn't only supply food to humans, either. GIS recently acquired Blue Buffalo Pet Products. Over the last three years, Pet foods have averaged a compound annual growth rate of 12% in net sales. That equals $1.3 billion for fiscal 2017.
Since 2010, General Mills has hiked its dividend 75%, with a current yield standing at 4.6%. The payout ratio is currently 52.14%.
The average analyst price target is 15% above current levels of $44.10. But we believe that might be too low. Why? GIS' forward P/E is 20% lower than the S&P 500's, so GIS shares are undervalued even while its yield is almost 150% above the market's yield.
Best Dividend Stocks to Buy in June, No. 2
Unlike General Mills, Newell Brands Inc. (NYSE: NWL) is not a household name. But its products are found in almost every household in the United States.
We're talking Mr. Coffee, Crock-Pot slow cookers, Yankee Candles, Rubbermaid containers, Sharpie and PaperMate pens, Coleman coolers, and Bicycle playing cards.
NWL's dividend yield is currently 3.4%, with a very low payout ratio of 15.63%. The yield, by the way, has quadrupled since 2011.
NWL reported disappointing earnings in November, and there has been talk about proxy disputes in its ownership. It has also done some restructuring and plans to do more.
As a result, the market has sent the stock down to a current level of $26.24, roughly 50% below its 52-week high.
Uncertainty will often weaken a stock. But in this case, the drop is overdone. The fact is, Newell has significant value.
For 2017, Newell's P/E ratio has fallen to 4.9. Yes, we just said 4.9.
The average industry P/E is 18.6. Even if Newell shares rose to 50% of the average, the shares would rise 90%.
If Newell shares rose to the current average, the share price would climb 280%.
The stock is overly discounted, and that means it's a great profit opportunity.
Best Dividend Stocks to Buy in June, No. 1
According to the Reputation Institute, Campbell Soup Co. (NYSE: CPB) is the most reputable company in the country. You can't get much more "consumer staple" than its soups, which are instantly recognizable and have been enshrined in pop art.
And New Jersey-based Campbell's doesn't just make soup. It sells Pepperidge Farm, Bolthouse Farms, V8, Pace, Arnott's, and Prego in 120 countries.
But Campbell doesn't rest on its laurels. It's looking forward with pledges about food production sustainability and has marched into the digital market. The company is expected to hit $300 million in sales via e-commerce in 2021.
It's also competing with popular meal-delivery services, such as Blue Apron, with its own service, Chef'd. Ingredients can be ordered online and sent directly to the customer's door.
In March, Campbell acquired Snyder's-Lance, a snack food leader. The acquisition is expected to both save costs and result in a total $10 billion in yearly revenue. Snack food diversifies Campbell's and now accounts for 46% of CPB's business.
Research & Markets expects the snack food industry to climb 25% by 2021, to $620 billion.
CPB will report earnings in mid-May. Earnings per share of $0.61 are forecast, an increase of 3.4% year over year. Last quarter, CPB's reported earnings beat expectations by 22%.
Right now, Campbell's pays a dividend of 3.4%, with a payout ratio of 40.3%.
Campbell's is attuned to the future with roots in the past - and poised to deliver profits to investors.
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