4 Top Consumer Staples Stocks To Check Out Today
Amidst the focus on Big Tech earnings this week, consumer staples stocks continue to shine on the earnings front as well. By and large, this comes as no surprise due to several key reasons potentially affecting the stock market now. To begin with, consumers have and continue to come out in full force. As vaccination rates rise and more stores reopen, people are more than willing to dine in and spend on their favorite meals. Because of this, restaurant stocks would be in focus.
For instance, McDonald’s (NYSE: MCD) would be a good example to note in the stock market today. Notably, the company posted solid figures in its latest fiscal quarter report. Earlier today, McDonald’s saw an earnings per share of $2.76 on revenue of $6.2 billion for the quarter. This exceeds consensus projections of $2.46 and $6.04 billion respectively. As a result, MCD stock would be in focus today. Speaking of consumer staples stocks getting attention from investors, Walmart (NYSE: WMT) is now on Goldman Sachs’ (NYSE: GS) conviction buy list. According to the firm, this is thanks to Walmart’s current profitability and increasing U.S. market share.
Overall, there seems to be no shortage of news for investors to digest in the consumer staples industry now. From restaurants to grocers and food producers, there are plenty to choose from. On that note, could one of these four industry giants be worth keeping an eye on now?
Top Consumer Staples Stocks To Watch Ahead Of November 2021
- The Coca-Cola Company (NYSE: KO)
- Home Depot Inc. (NYSE: HD)
- Altria Group Inc. (NYSE: MO)
- Starbucks Corporation (NASDAQ: SBUX)
The Coca-Cola Company
Coca-Cola is a beverage company whose wide portfolio of products are sold in more than 200 countries and territories. In fact, it is one of the largest beverages companies in the world and its brands include Coca-Cola, Sprite, and Fanta. It also has other hydration, sports, and tea brands. Furthermore, the company continues to enhance its portfolio by bringing new innovative products to the market. KO stock currently trades at $55.64 as of 11:05 a.m. ET. Today, the company has just reported its third-quarter financials.
Diving in, net revenue for the quarter grew by 16% to $10 billion, resulting in net revenues ahead of pre-pandemic levels. Its earnings per share for the quarter also grew by 41% to $0.57. Coca-Cola says that its strategic transformation enables it to effectively navigate a dynamic environment and emerge stronger from the pandemic. It also gained value share in the total nonalcoholic ready-to-drink (NARTD) beverages market. On top of that, it announced that it will be raising its full-year guidance to reflect another quarter of momentum in the business. All things considered, will you add KO stock to your portfolio of consumer staples stocks?
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The Home Depot Inc.
Following that, we have Home Depot, one of the largest home improvement retailers in the U.S., supplying tools and household items for both DIY users and professionals. The company operates over 2300 retail stores in all 50 states. In fiscal 2020, the company had sales of over $132.1 billion and earnings of $12.9 billion. HD stock currently trades at $373.22 as of 11:06 a.m. ET with year-to-date gains of over 38%.
On October 6, 2021, the company teamed up with Walmart to expand same-day and next-day delivery capabilities for home improvement customers in the U.S. with Walmart GoLocal. With this new service, Home Depot customers have another option for same-day or next-day delivery on a variety of home improvement products. “The Home Depot is continuously working to give customers the most convenient shopping experience in home improvement, and that includes providing a wide range of fast and reliable delivery options,” said Stephanie Smith, senior vice president of supply chain for The Home Depot. “This partnership brings us even closer to our goal of offering same-day or next-day delivery to 90 percent of the U.S. population.” With that being said, do you think HD stock is worth buying?
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Altria Group Inc.
Next, we have Altria Group, one of the world’s largest producers and marketers of tobacco, cigarettes, and related products. It holds diversified positions across tobacco, alcohol, and cannabis, and through its wholly-owned subsidiaries and strategic investments, Altria continues to return maximum value to shareholders through dividends and growth. MO stock currently trades at $47.76 as of 11:06 a.m. ET.
The company will be reporting its third-quarter financials on Thursday, October 28, 2021, at 9:00 a.m. ET. Altria is also looking to move beyond smoking as adult tobacco consumers are increasingly seeking new options, including those that reduce risk. Furthermore, the company says that their preferences are rapidly evolving. It will also work within the framework that government, public health, and regulatory bodies have established to continuously push towards this new direction. With that in mind, will you consider buying MO stock right now?
Starbucks Corporation
Last but not least, we have Starbucks Corporation. In brief, the Washington-based beverage company is another name among consumer staples to consider now. This could be the case given its title as the world’s largest coffeehouse chain operator. Through its network of over 33,000 retail locations worldwide, Starbucks provides consumers with high-quality arabica coffee. As it stands, SBUX stock currently trades at $113.94 a share as of 11:06 a.m. ET. This would be after almost doubling since its Covid era low.
Despite its current momentum, Starbucks does not seem to be slowing down anytime soon. Earlier this week, news broke of the beverage titan’s plans for expansion in the Indian market. According to the CEO of Tata Starbucks, a Starbucks JV with India’s Tata Consumer Products, Starbucks is looking to invest in smaller stores and drive-through outlets. With India being among Starbucks’ fastest-growing markets, this could be a strategic play by the company. With Starbucks set to report its latest fiscal quarter earnings figures tomorrow, would you consider SBUX stock a top-pick?
