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2 Blue Chip Stocks To Watch In March 2023

Check out these two blue chip stocks this week.

The shares of large, well-established companies with a strong reputation for financial stability and consistent growth are referred to as blue chip stocks. These companies typically have a long track record of paying dividends and weathering economic downturns. Blue chip stocks are frequently regarded as a safe and dependable investment option, particularly for those seeking long-term investment strategies.

For retail investors looking to balance their portfolios with low-risk, high-reward investments, investing in blue-chip stocks can be a good option. Blue chip stocks are typically less volatile than other types of stocks due to their strong financials and stability, providing investors with a sense of security. Furthermore, these stocks frequently pay out consistent dividends, which can be used as a source of passive income.

When purchasing blue chip stocks, investors should thoroughly research the company’s financials, competitive landscape, and growth prospects. While blue chip stocks are generally regarded as safe investments, it is still critical to diversify your portfolio and carefully consider the risks involved. Investors can potentially achieve long-term financial goals while mitigating risk by investing in a diverse range of blue-chip stocks. With that, here are two blue-chip stocks to watch in the stock market right now.

Blue Chip Stocks To Buy [Or Avoid] Right Now

Kroger Co. (KR Stock)

Leading off, The Kroger Company (KR) is a leading grocery retailer with over 2,700 stores in the United States. As a well-established company with a strong reputation for financial stability, Kroger is often considered a blue-chip stock. Today, Kroger Co. offers its shareholders an annual dividend yield of 2.20%.

KR Recent Stock News

Earlier this month, Kroger Co. reported better-than-expected fourth-quarter earnings results. In detail, the company posted Q4 2022 earnings of $0.99 per share versus estimates of $0.90 per share. Meanwhile, the company also notched in revenues for the quarter of $34.8 billion. As a result, revenue increased by 5.4% in comparison to the same period, the previous year.

Furthermore, Chairman and CEO Rodney McMullen commented, “Kroger achieved exceptional results in 2022 as we executed on our Leading with Fresh and Accelerating with Digital strategy, building on record years in 2020 and 2021.

KR Stock Chart

In the last month of trading action, KR stock has rose by 6.44%. While during Wednesday morning’s trading action, shares of KR stock opened slightly higher on the day so far by 0.43% at $47.11 a share.

Source: TD Ameritrade TOS

[Read More] 3 Semiconductor Stocks To Watch In March 2023

Procter & Gamble Co. (PG Stock)

Next, The Procter & Gamble Company (PG) is a consumer goods company. In brief, the company produces a wide range of products, including cleaning supplies, personal care items, and baby care products. Currently, PG has an annual dividend for shareholders of 2.66%.

PG Recent Stock News

Back in January, Procter & Gamble Co. announced its second quarter 2023 financial results. Specifically, the company released Q2 2023 earnings per share of $1.59 along with revenue of $20.8 billion. This was versus Wall Street’s consensus estimates for the quarter which were earnings of $1.58 per share, and revenue of $20.6 billion.

Additionally, PG reaffirmed its guidance for the fiscal year 2023 earnings in the range of $5.81 to $6.04 per share. Though the company did say it now estimates FY 2023 revenue between $79.39 billion to $80.19 billion. This is in comparison to previous estimates stated by the company which were in the range of $77.78 billion to $79.39 billion.

PG Stock Chart

Looking at the last month of trading, shares of PG stock have fallen by 1.10%. Meanwhile, on Wednesday morning, PG stock is trading lower off the open by 0.36% at $137.02 per share.

Source: TD Ameritrade TOS

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By Brett David

Brett David is a digital marketing and finance professional for nearly 10 years now and a contributing author for StockMarket.com. His passion for digital marketing and the stock market began after graduating with a B.S.B.A in business administration and finance. After completing college, he went on to becoming an entrepreneur in the marketing and finance space, which led to becoming a contributor to outlets such as ThriveGlobal.com, MarijuanaStocks.com, MarketingAgency.com and SearchEngineWatch.com.

Brett loves the ability to deliver to his readers engaging and educational content that can be easily consumed by the reader. He enjoys writing about a wide variety of companies ranging from blue-chip stocks to the undervalued small and micro cap stocks. His favorite stock market sectors today to write about are: Tech, Cannabis, Mining, Biotech, and TMT.

Brett has worked with hundreds of publicly traded companies on increasing their digital footprint and corporate outreach since 2013.

You can find Brett most of time digging through corporate filings conducting fundamental analysis or at an industry conference looking for the next big trend or company to hit the street. His digital marketing experience gives a competitive edge over other contributing authors by allowing him to see and analyze trends faster than the next person.

Brett, a South Florida native, enjoys spending time with his wife and son outdoors, and is an avid basketball and MMA fan.

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