Consumer staples represent a sector of the economy comprised of companies that produce essential goods and services, such as food and beverages, household products, and personal care items. These products are considered non-cyclical in nature, meaning that their demand remains relatively consistent regardless of economic conditions. As a result, the consumer staples sector tends to be more resilient during economic downturns and can provide a level of stability for investors seeking to diversify their portfolios or protect their capital in uncertain market environments.
Consumer staples stocks encompass a wide range of companies involved in the manufacturing, distribution, and sale of everyday necessities. Examples of well-known consumer staples companies include Procter & Gamble (NYSE: PG), Coca-Cola (NYSE: KO), and Walmart (NYSE: WMT). Due to the steady demand for their products and services, these companies often generate stable revenues and earnings, making them attractive investment options for conservative investors or those seeking to add defensive positions to their portfolios. Additionally, many consumer staples companies have a history of paying regular dividends, providing a consistent income stream for investors.
When considering an investment in consumer staples stocks, investors should pay close attention to the financial health, competitive advantages, and growth prospects of individual companies. Factors such as brand strength, product diversification, and distribution networks can contribute to a company’s ability to weather market fluctuations and maintain its market position. All things considered, here are three consumer staples stocks to check out in the stock market today.
Consumer Staples Stocks To Buy [Or Avoid] Now
Colgate-Palmolive (CL Stock)
First, Colgate-Palmolive (CL) is a global consumer products company, primarily focusing on the production and distribution of oral care, personal care, home care, and pet nutrition products. With well-known brands like Colgate, Palmolive, and Hill’s Science Diet, the company has a strong presence in more than 200 countries.
Earlier in the month, Colgate-Palmolive announced an increase in the quarterly common stock cash dividend from $0.47 to $0.48 per share, effective in the second quarter of 2023. This change raises the annualized dividend rate from $1.88 to $1.92 per share. The second quarter dividend will be paid on May 15, 2023, to shareholders of record as of April 21, 2023. Notably, Colgate-Palmolive has maintained an uninterrupted streak of paying dividends on its common stock since 1895.
Over the last month of trading, shares of CL stock have advanced by 3.08%. While during Friday morning’s trading session, CL stock opened higher by 0.41% trading at $75.56 a share.
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Kraft Heinz Company (KHC Stock)
Next, The Kraft Heinz Company (KHC) is one of the world’s largest food and beverage companies, offering a broad portfolio of iconic brands such as Kraft, Heinz, Oscar Mayer, and Planters.
Last month, Kraft Heinz reported better-than-expected 4th quarter 2022 financial results. In detail, the company posted earnings of $0.85 per share, along with revenue of $7.4 billion. This is versus Wall Street’s consensus estimates for the quarter which were earnings of $0.77 per share, on revenue estimates of $7.1 billion. As a result, revenue also increased by 10.0% versus the same period, the previous year.
Looking at the last month of trading, shares of KHC stock are down slightly by 0.78%. Meanwhile, on Friday morning, KHC stock is trading modestly lower on the day so far by 0.57% at $38.62 a share.
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Kimberly-Clark (KMB Stock)
Finally, Kimberly-Clark Corporation (KMB) is a multinational personal care corporation that produces a wide range of products, including tissues, diapers, and feminine care items. With popular brands like Kleenex, Huggies, and Kotex.
At the end of January, KMB announced its 4th quarter 2022 earnings results. Diving in, the company reported earnings per share of $1.54 versus estimates of $1.51. Additionally, revenue was reported in line with expectations coming in at $5.0 billion versus analysts’ estimates which were also $5.0 billion.
In the past month of trading, shares of KMB stock are up 7.02%. In addition, during Monday’s mid-morning trading session, Kimberly-Clark stock is trading higher on the day so far by 0.62% at $133.83 a share.
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