{"id":172583,"date":"2026-08-08T09:29:30","date_gmt":"2026-08-08T09:29:30","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/172583\/"},"modified":"2026-08-08T09:29:30","modified_gmt":"2026-08-08T09:29:30","slug":"srpen-preje-dividendam-cnbc-vybira-mezi-aristokraty-s-rustovym-potencialem-i-pravidelnym-vynosem","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/172583\/","title":{"rendered":"Srpen p\u0159eje dividend\u00e1m. CNBC vyb\u00edr\u00e1 mezi aristokraty s r\u016fstov\u00fdm potenci\u00e1lem i pravideln\u00fdm v\u00fdnosem"},"content":{"rendered":"

Srpen pat\u0159\u00ed mezi slab\u0161\u00ed m\u011bs\u00edce pro akciov\u00e9 trhy, a investo\u0159i proto mohou hledat dividendov\u00e9 tituly, kter\u00e9 dok\u00e1\u017eou nab\u00eddnout stabiln\u011bj\u0161\u00ed v\u00fdnos<\/a> i v obdob\u00ed zv\u00fd\u0161en\u00e9 volatility. CNBC proto upozor\u0148uje na n\u011bkolik spole\u010dnost\u00ed z dividendov\u00fdch aristokrat\u016f, kter\u00e9 vedle pravideln\u00e9ho r\u016fstu dividend nab\u00edzej\u00ed i zaj\u00edmav\u00fd potenci\u00e1l dal\u0161\u00edho r\u016fstu ceny akci\u00ed.<\/p>\n

Srpen b\u00fdv\u00e1 t\u0159et\u00edm nejslab\u0161\u00edm m\u011bs\u00edcem roku. Historick\u00e1 data ukazuj\u00ed, \u017ee index S&P 500 v srpnu v pr\u016fm\u011bru p\u0159id\u00e1v\u00e1 jen nepatrn\u00e9 zisky. A p\u0159itom u\u017e v \u010dervenci byly trhy letos pom\u011brn\u011b volatiln\u00ed, kdy\u017e se investo\u0159i museli vypo\u0159\u00e1dat s nap\u011bt\u00edm na Bl\u00edzk\u00e9m v\u00fdchod\u011b a obavami ohledn\u011b dal\u0161\u00edho sm\u011b\u0159ov\u00e1n\u00ed Fedu. Index S&P 500 tak nakonec v \u010dervenci oslabil o 0,1 %, technologick\u00fd index Nasdaq<\/a> ztratil 3,2 % a Dow Jones Industrial Average si p\u0159ipsal 0,3 %.<\/p>\n

Dividendov\u00e9 akcie si v\u0161ak ve stejn\u00fd m\u011bs\u00edc vedly l\u00e9pe ne\u017e \u0161ir\u0161\u00ed trh. Fond ProShares S&P 500 Dividend Aristocrats ETF<\/a> (NOBL) vzrostl t\u00e9m\u011b\u0159 o 8 % a fond Vanguard Dividend Appreciation ETF<\/a> (VIG) p\u0159idal p\u0159ibli\u017en\u011b 1 %. NOBL investuje do spole\u010dnost\u00ed z indexu S&P 500, kter\u00e9 dlouhodob\u011b ka\u017edoro\u010dn\u011b zvy\u0161uj\u00ed dividendy a jeho dividendov\u00fd v\u00fdnos<\/a> \u010din\u00ed 2,42 %. Stejn\u011b tak se zam\u011b\u0159uje na firmy s histori\u00ed r\u016fstu dividend a nab\u00edz\u00ed dividendov\u00fd v\u00fdnos<\/a> 1,54 %.<\/p>\n

Pr\u00e1v\u011b akcie vypl\u00e1cej\u00edc\u00ed dividendy nab\u00edz\u00ed b\u011bhem tr\u017en\u00ed volatility stabiln\u011bj\u0161\u00ed a p\u0159edv\u00eddateln\u011bj\u0161\u00ed v\u00fdnosy a mohou zm\u00edrnit propady portfolia. \u201eTrhy jsou volatiln\u00ed, budouc\u00ed v\u00fdvoj je nejist\u00fd a r\u016fst dividend nav\u00edc pom\u00e1h\u00e1 kompenzovat inflaci<\/a>, kter\u00e1 z\u016fst\u00e1v\u00e1 vy\u0161\u0161\u00ed a odoln\u011bj\u0161\u00ed, ne\u017e se o\u010dek\u00e1valo,\u201c uvedl v \u010dervnu pro CNBC Michael Clarfeld, mana\u017eer dividendov\u00e9 strategie spole\u010dnosti ClearBridge Investments.<\/p>\n

Investo\u0159i by se v\u0161ak nem\u011bli zam\u011b\u0159ovat pouze na akcie s nejvy\u0161\u0161\u00edm dividendov\u00fdm v\u00fdnosem. N\u011bkdy toti\u017e mimo\u0159\u00e1dn\u011b vysok\u00e1 dividenda m\u016f\u017ee signalizovat probl\u00e9my – pokud cena akcie v\u00fdrazn\u011b klesne, dividendov\u00fd v\u00fdnos<\/a> naopak matematicky vzroste, co\u017e m\u016f\u017ee vytv\u00e1\u0159et klamn\u00fd dojem atraktivity. Proto se pozornost \u010dasto obrac\u00ed na takzvan\u00e9 dividendov\u00e9 aristokraty, tedy spole\u010dnosti z indexu S&P 500, kter\u00e9 zvy\u0161ovaly dividendu ka\u017ed\u00fd rok po dobu nejm\u00e9n\u011b 25 let v \u0159ad\u011b. Jejich dividendov\u00e9 v\u00fdnosy sice neb\u00fdvaj\u00ed nejvy\u0161\u0161\u00ed na trhu, ale obecn\u011b jde o kvalitn\u00ed a finan\u010dn\u011b stabiln\u00ed firmy s dlouhodob\u011b prov\u011b\u0159en\u00fdm byznysem.<\/p>\n

CNBC zve\u0159ejnila seznam akci\u00ed<\/a> z fondu NOBL, kter\u00e9 maj\u00ed podle analytik\u016f st\u00e1le zaj\u00edmav\u00fd r\u016fstov\u00fd potenci\u00e1l (tj. alespo\u0148 15% mo\u017enost r\u016fstu oproti aktu\u00e1ln\u00ed cen\u011b) a z\u00e1rove\u0148 je alespo\u0148 55 % analytik\u016f doporu\u010duje k n\u00e1kupu:<\/p>\n

\u00a0<\/p>\n

ALB
\n Albemarle Corporation
\n Non-Energy Materials
\n 58,3
\n 1,4
\n -12,9
\n 63,4<\/p>\n

APD
\n Air Products and Chemicals
\n Non-Energy Materials
\n 56,0
\n 2,5
\n 0,6
\n 16,8<\/p>\n

DOV
\n Corporation
\n Industrials
\n 61,9
\n 1,0
\n -8,8
\n 23,2<\/p>\n

ECL<\/p>\n

Non-Energy Materials
\n 60,0
\n 1,1
\n -0,4
\n 17,9<\/p>\n

SPGI
\n S&P Global
\n Technology
\n 79,3
\n 0,9
\n 6,9
\n 25,8<\/p>\n

WMT
\n Walmart
\n Consumer Non-Cyclicals
\n 66,7
\n 0,9
\n -1,8
\n 25,8<\/p>\n

WST
\n West Pharmaceutical Services
\n Healthcare
\n 68,4
\n 0,3
\n -5,0
\n 20,1<\/p>\n

Jednou z t\u011bchto akci\u00ed je Albemarle, jeden z nejv\u011bt\u0161\u00edch sv\u011btov\u00fdch producent\u016f lithia. Akcie v \u010dervenci ztratily 13 %, analytici v\u0161ak v\u011b\u0159\u00ed, \u017ee by mohly v\u00fdrazn\u011b pos\u00edlit. Pr\u016fm\u011brn\u00e1 c\u00edlov\u00fd cena nazna\u010duje potenci\u00e1ln\u00ed r\u016fst a\u017e o 63 % a mezit\u00edm investo\u0159i dost\u00e1vaj\u00ed dividendov\u00fd v\u00fdnos<\/a> 1,4 %. P\u0159ibli\u017en\u011b 58 % analytik\u016f, kte\u0159\u00ed akcii sleduj\u00ed, doporu\u010duje jej\u00ed n\u00e1kup. Pat\u0159\u00ed mezi n\u011b i banka , kter\u00e1 v \u010dervnu sv\u00e9 doporu\u010den\u00ed zv\u00fd\u0161ila.<\/p>\n

Ceny akci\u00ed Albemarle v posledn\u00ed dob\u011b negativn\u011b ovliv\u0148uj\u00ed obavy z p\u0159\u00edli\u0161 vysok\u00e9 nab\u00eddky lithia na trhu. Analytik Patrick Cunningham si v\u0161ak nemysl\u00ed, \u017ee by do\u0161lo k v\u00fdrazn\u00e9mu p\u0159ebytku suroviny. \u201eI v p\u0159\u00edpad\u011b vyrovnan\u00e9ho trhu pova\u017eujeme Albemarle za jednoho z hlavn\u00edch v\u00edt\u011bz\u016f dlouhodob\u011b rostouc\u00ed popt\u00e1vky po lithiu d\u00edky kvalitn\u00edm aktiv\u016fm, zpracovatelsk\u00e9 s\u00edti a schopnosti investovat kapit\u00e1l do r\u016fstov\u00fdch projekt\u016f s vysokou n\u00e1vratnost\u00ed. Domn\u00edv\u00e1me se, \u017ee sou\u010dasn\u00e9 ocen\u011bn\u00ed akcie dostate\u010dn\u011b nezohled\u0148uje dal\u0161\u00ed f\u00e1zi r\u016fstu spole\u010dnosti.\u201c<\/p>\n

Dal\u0161\u00ed zaj\u00edmavou dividendovou akci\u00ed na seznamu je Air Products and Chemicals, kter\u00e1 nab\u00edz\u00ed nejvy\u0161\u0161\u00ed dividendov\u00fd v\u00fdnos<\/a> z uveden\u00fdch spole\u010dnost\u00ed, a to 2,5 %. Podle pr\u016fm\u011brn\u00e9 c\u00edlov\u00e9 ceny analytik\u016f m\u00e1 akcie 17% potenci\u00e1l r\u016fstu a z\u00e1rove\u0148 j\u00ed 56 % analytik\u016f doporu\u010duje k n\u00e1kupu.<\/p>\n

Minul\u00fd t\u00fdden spole\u010dnost Air Products and Chemicals ozn\u00e1mila v\u00fdsledky za t\u0159et\u00ed fisk\u00e1ln\u00ed \u010dtvrtlet\u00ed. Zisk p\u0159ekonal o\u010dek\u00e1v\u00e1n\u00ed analytik\u016f, av\u0161ak tr\u017eby byly o n\u011bco ni\u017e\u0161\u00ed, ne\u017e trh p\u0159edpokl\u00e1dal. Firma z\u00e1rove\u0148 zv\u00fd\u0161ila sv\u016fj v\u00fdhled celoro\u010dn\u00edho zisku, a naopak sn\u00ed\u017eila pl\u00e1novan\u00e9 kapit\u00e1lov\u00e9 v\u00fddaje, tedy investice do nov\u00fdch projekt\u016f a infrastruktury. Akcie spole\u010dnosti v \u010dervenci m\u00edrn\u011b pos\u00edlily.<\/p>\n

vyr\u00e1b\u00ed specializovan\u00e1 za\u0159\u00edzen\u00ed, komponenty, software a pr\u016fmyslov\u00e1 \u0159e\u0161en\u00ed pro firmy a k n\u00e1kupu ho doporu\u010duje t\u00e9m\u011b\u0159 62 % analytik\u016f. Akcie nab\u00edz\u00ed 1% dividendov\u00fd v\u00fdnos<\/a> a potenci\u00e1ln\u00ed zhodnocen\u00ed o 23 %. Management se ned\u00e1vno zav\u00e1zal transformovat portfolio sm\u011brem k rychlej\u0161\u00edmu struktur\u00e1ln\u00edmu r\u016fstu na trz\u00edch, jako je zemn\u00ed plyn<\/a> a biomedic\u00edna. Provozn\u00ed mar\u017ee se v posledn\u00edch 10 letech roz\u0161\u00ed\u0159ila d\u00edky optimalizaci portfolia a kontrole n\u00e1klad\u016f a rozvaha firmy nav\u00edc zna\u010d\u00ed prostor pro velk\u00e9 akvizice.<\/p>\n

je glob\u00e1ln\u00edm l\u00eddrem v oblasti \u00fapravy vody, hygieny a sanitace a prevence infekc\u00ed a mezi jeho z\u00e1kazn\u00edky jsou mimo jin\u00e9 i datov\u00e1 centra, u kter\u00fdch firma o\u010dek\u00e1v\u00e1 r\u016fst tr\u017eeb alespo\u0148 o 20 % ro\u010dn\u011b. Tento titul doporu\u010duje k n\u00e1kupu 60 % analytik\u016f a jeho cena p\u0159edstavuje 18% mo\u017enost zhodnocen\u00ed, a nav\u00edc s dividendov\u00fdm v\u00fdnosem 1,1 %.<\/p>\n

S&P Global doporu\u010duje ke koupi a\u017e 79 % analytik\u016f, co\u017e je nejv\u00edce z akci\u00ed na seznamu, p\u0159i\u010dem\u017e u n\u00ed vid\u00ed 26% zhodnocen\u00ed. K tomu m\u00e1 titul 0,9% dividendov\u00fd v\u00fdnos<\/a>. Nicm\u00e9n\u011b posledn\u00ed v\u00fdsledky investory m\u00edrn\u011b zklamaly pot\u00e9, co firma nedoru\u010dila o\u010dek\u00e1van\u00e9 v\u00fdnosy ze segment\u016f energetiky a tr\u017en\u00edch dat. Nicm\u00e9n\u011b na lince mar\u017e\u00ed a zisku na akcii splnila odhady a potvrdila v\u00fdhled.<\/p>\n

Dal\u0161\u00ed spole\u010dnost\u00ed na seznamu je Walmart. Ten sice nab\u00edz\u00ed relativn\u011b n\u00edzk\u00fd dividendov\u00fd v\u00fdnos<\/a> 0,9 %, podle dat spole\u010dnosti FactSet v\u0161ak m\u00e1 potenci\u00e1l r\u016fstu ceny akcie t\u00e9m\u011b\u0159 o 26 %. P\u0159ibli\u017en\u011b 67 % analytik\u016f, kte\u0159\u00ed akcii sleduj\u00ed, doporu\u010duje jej\u00ed n\u00e1kup. Akcie Walmartu b\u011bhem \u010dervence ztratily asi 2 %. <\/p>\n

Walmart sv\u00e9 v\u00fdsledky zve\u0159ejn\u00ed 20. srpna. Investi\u010dn\u00ed spole\u010dnost Bernstein, kter\u00e1 akcii hodnot\u00ed doporu\u010den\u00edm \u201eoutperform\u201c, doporu\u010duje akcie dokoupit v p\u0159\u00edpad\u011b, \u017ee by po p\u0159\u00edpadn\u011b slab\u0161\u00edch v\u00fdsledc\u00edch v\u00fdrazn\u011bji oslabily. \u201eP\u0159esto\u017ee v nejbli\u017e\u0161\u00ed dob\u011b m\u016f\u017ee doj\u00edt ke zpomalen\u00ed r\u016fstu srovnateln\u00fdch tr\u017eeb, Walmart podle n\u00e1s z\u016fst\u00e1v\u00e1 ve velmi siln\u00e9 fundament\u00e1ln\u00ed pozici. M\u00e1 cenovou v\u00fdhodu oproti konkurenci, \u0161ir\u0161\u00ed nab\u00eddku produkt\u016f a st\u00e1le atraktivn\u011bj\u0161\u00ed slu\u017eby doru\u010dov\u00e1n\u00ed,\u201c napsal analytik Zhihan Ma.<\/p>\n

West Pharmaceutical Services doporu\u010duje 68 % analytik\u016f k n\u00e1kupu a vid\u00ed u n\u00ed c\u00edlovou cenu o 20 % nad sou\u010dasnou tr\u017en\u00ed cenou. Dividendov\u00fd v\u00fdnos<\/a> je zde ale pouze 0,3 %. V posledn\u00edch v\u00fdsledc\u00edch tato farmacie p\u0159ekonala odhady trhu u tr\u017eeb, organick\u00e9ho r\u016fstu, provozn\u00ed mar\u017ee i zisku na akcii. pova\u017euje tuto banku za \u201ejeden z jasn\u00fdch titul\u016f, kter\u00e9 p\u0159ekon\u00e1vaj\u00ed o\u010dek\u00e1v\u00e1n\u00ed a od roku 2026 do roku 2027 rostou\u201c, uvedl analytik DB Justin Bowers.<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Srpen pat\u0159\u00ed mezi slab\u0161\u00ed m\u011bs\u00edce pro akciov\u00e9 trhy, a investo\u0159i proto mohou hledat dividendov\u00e9 tituly, kter\u00e9 dok\u00e1\u017eou nab\u00eddnout…\n","protected":false},"author":2,"featured_media":172584,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[42032,67,68,17651,42029,42031,42034,42035,42028,42033,36715,42030,42036],"class_list":["post-172583","post","type-post","status-publish","format-standard","has-post-thumbnail","category-byznys","tag-aristokraty","tag-business","tag-byznys","tag-cnbc","tag-dividendam","tag-mezi","tag-potencialem","tag-pravidelnym","tag-preje","tag-rustovym","tag-srpen","tag-vybira","tag-vynosem"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/117059188356787543","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/172583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=172583"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/172583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/172584"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=172583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=172583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=172583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}