Wall Street's Most Accurate Analysts Say Hold These 3 Defensive Stocks With Over 3% Dividend Yields

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Here's a look at the most recent high-yield dividend stock ratings from the most accurate Wall Street analysts, according to Benzinga's Analyst Stock Ratings.

Below are the ratings of the most accurate analysts for three high-yielding stocks in the consumer staples sector.

The J. M. Smucker Company SJM

• Dividend Yield: 3.02%
• Deutsche Bank analyst Steve Powers maintained a Hold rating and increased the price target from $152 to $153 on Aug. 21, 2023. This analyst has an accuracy rate of 74%.
• JP Morgan analyst Ken Goldman maintained a Neutral rating and cut the price target from $158 to $153 on June 7, 2023. This analyst has an accuracy rate of 81%.
• Recent News: J.M. Smucker reported a first-quarter FY24 sales decline of 4% year-on-year to $1.805 billion, missing the analyst consensus of $1.84 billion.

The Clorox Company CLX

• Dividend Yield: 3.08%
• DA Davidson analyst Linda Bolton Weiser maintained a Neutral rating and raised the price target from $155 to $176 on Aug. 7, 2023. This analyst has an accuracy rate of 68%.
• Morgan Stanley analyst Dara Mohsenian maintained an Equal-Weight rating and boosted the price target from $145 to $171 on May 4, 2023. This analyst has an accuracy rate of 75%.
• Recent News: Clorox Company reported better-than-expected fourth-quarter financial results and issued FY24 EPS guidance.

Ingredion Incorporated INGR

• Dividend Yield: 3.13%
• BMO Capital analyst Andrew Strelzik maintained a Market Perform rating and cut the price target from $125 to $117 on Aug. 9, 2023. This analyst has an accuracy rate of 66%.
• Credit Suisse analyst Robert Moskow maintained a Neutral rating and increased the price target from $100 to $110 on Feb. 9, 2023. This analyst has an accuracy rate of 71%.
• Recent News: Ingredion reported worse-than-expected second-quarter earnings.

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