3 Dividend Stocks with Growth Potential You Can't Miss

Core Viewpoint - Investors are seeking opportunities for strong performance in 2024, particularly in dividend stocks that offer attractive yields and potential for growth [1] Group 1: Cal-Maine Foods Inc. (NASDAQ: CALM) - Cal-Maine Foods has seen its stock price decline over 10% from a 52-week high of $114.06, presenting a potential buying opportunity [3] - The stock is forecasted to have a 12-month price target of$67.00, indicating a downside of 34.27% based on analyst ratings [3] - Institutional investors, including State Street, have increased their holdings by 3.0%, bringing their total position to $120.5 million, or 3.2$5.95 per share, translating to a yield of 5.84%, which is competitive against inflation [5] - Cal-Maine's price-to-book (P/B) ratio is 2.8x, lower than the materials sector average of 3.6x, suggesting potential for price appreciation [6] Group 2: United Parcel Service Inc. (NYSE: UPS) - UPS stock is forecasted to reach a 12-month price target of $151.10, representing a 22.46$6.52 per share, resulting in an annualized yield of 5.3% [9] - There has been a 4.8% decline in UPS stock's short interest over the past month, indicating a shift in market sentiment towards the stock [10] Group 3: HP Inc. (NYSE: HPQ) - HP stock has a 12-month price forecast of $36.23, with an upside potential of 8.89$41.00 per share for HP, indicating a potential upside of 23.1% [12] - State Street has increased its holdings in HP by 8.2%, bringing their total position to $1.9 billion, or 5.4% ownership [13] - HP's price-to-earnings (P/E) ratio is 11.8x, significantly lower than the computer sector's average of 233.9x, suggesting it is undervalued [13]