It’s disheartening how the spotlight often falls on a handful of well-known names in the stock market. While it’s understandable why powerhouses like Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA) dominate headlines, investors must realize that hidden gems and undervalued stocks can be just as lucrative. After all, many of today’s most popular stocks were once undiscovered treasures that became massive winners for early investors.

However, uncovering these overlooked opportunities is no easy feat. That’s why we’ve rolled up our sleeves and taken on the challenge for you. Our quest has led us to identify three exceptional hidden gem growth stocks that deserve your attention. These potential investments have all the makings of diamonds in the rough, waiting to shine brighter.

So, step away from the ordinary and delve into the extraordinary world of investing, where untapped potential lies in these hidden gems. Join us as we explore the alluring opportunities that await savvy investors like yourself.

Starbucks (SBUX)

Starbucks (NASDAQ:SBUX), a hidden gem among undervalued stocks, offers valuable investing opportunities for those seeking stocks to buy now. This global powerhouse boasts one of the most powerful consumer brands worldwide. However, its dividend quality often goes unnoticed.

Starbucks has demonstrated a consistent pattern of annual dividend increases since it first introduced its dividend program in 2010. Throughout the years, the company has implemented substantial raises to its dividend payouts. Currently, Starbucks pays a quarterly dividend of 53 cents per share, almost twice its dividend in 2017.

While Starbucks may not have the highest yield at just 2.15%, its unwavering commitment to dividend raises is noteworthy. Coupled with its dominant position in the industry, Starbucks presents abundant potential for passive income.

Despite the formidable obstacles presented by the Covid-19 pandemic, Starbucks has achieved a remarkable resurgence. The company has experienced unprecedented levels of revenue and a consistent upward trend in earnings, signaling a strong recovery.

Although Starbucks may no longer be the red-hot growth stock it once was, it unquestionably belongs among the esteemed blue chip dividend stocks. With ample free cash flow to cover the dividend, the company is well-positioned to sustain its dividend payments. Additionally, its effective expansion of rewards members and mobile ordering further strengthens its ability to drive customer engagement.

Embrace the opportunity to invest in Starbucks: a unique stock combining a globally recognized brand, consistent dividend growth, and a resilient business model. Don’t overlook this gem in the stock market.

Chevron (CVX)

The global oil major Chevron (NYSE:CVX) is a dominant player in its industry. It is often treated as a bellwether for the wider industry.

Chevron’s acquisition of PDC Energy for $7.6 billion is expected to increase the company’s total proved reserves by about 10% and enhance its overall reserve life. This strategic move signifies Chevron’s ability to identify hidden gems and undervalued stocks.

Chevron has positioned itself to capitalize on various growth drivers. The Australian liquefied natural gas sector and Gulf of Mexico deep-water production present lucrative opportunities for the company.

A prominent oil and gas industry player, Chevron has expressed its anticipation of a surge in activity within the Permian and DJ basins. This optimistic outlook will serve as a catalyst for the company’s ongoing expansion efforts.

The Permian Basin, located primarily in Texas and New Mexico, is renowned as one of the most prolific oil and gas regions in the United States. Chevron recognizes the immense potential of the Permian Basin, with its vast reserves of hydrocarbon resources. As such, the company foresees an uptick in exploration and production activities in this region, which will likely contribute to its expansion plans.

With a keen focus on value investing, Chevron consistently identifies stock market opportunities with immense potential. Its portfolio boasts a collection of undervalued stocks, making it attractive for investors seeking promising options. Consider Chevron as one of the hidden gems to buy now, given its solid performance and promising prospects in the industry.

Pentair (PNR)

Pentair (NYSE:PNR), the water solutions company, has a rich history and it is a hidden gem worth exploring. While its electrical business spun off as nVent in 2018, Pentair remains a promising player in the market.

Demonstrating an unwavering commitment to value investing, the company has achieved the impressive feat of raising its dividend for 47 consecutive years. This exceptional track record has solidified Pentair as a stock worth pursuing.

Pentair’s dividend of $0.88 per share is well-covered and reinforced by projected earnings per share ranging from $3.60 to $3.70 in 2023. This solid financial foundation showcases the company’s stability and potential for investors seeking stocks to buy now.

Admittedly, Pentair faces headwinds primarily due to declining sales within its core pool equipment segment. The company experienced a surge during the pandemic lockdowns as customers invested in their homes. However, a natural correction in demand and rising interest rates have pressured spending, impacting Pentair’s pool revenue expectations.

Nevertheless, CEO John Stauch remains optimistic. He highlights the company’s ongoing transformation initiative aimed at cost-cutting and increasing returns on sales. With strength in its non-residential businesses, such as fluid treatment and commercial water solutions, Pentair has ambitious goals.

The company has set its sights on achieving a return on sales of approximately 23% by 2025, a notable increase from the reported 18.6% return on sales in 2022.

If Pentair achieves its targets and its residential business recovers, investors can anticipate continued dividend growth. The company’s focus on non-residential sectors and cost optimization positions it for long-term success, making it an enticing prospect among hidden gems in the stock market.

On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.