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2 Consumer Discretionary Stocks For Your Mid-April 2023 Watchlist

Consumer discretionary stocks to check out today.

To start, consumer discretionary stocks refer to the stocks of companies that offer non-essential goods and services. These are often considered luxury or optional purchases. Examples of these companies include retailers, automakers, restaurants, and entertainment companies. The consumer discretionary sector is closely tied to consumer confidence and discretionary spending, which can be affected by economic conditions, such as employment rates and inflation.

Investing in consumer discretionary stocks can offer potential opportunities for growth and profit, as consumer spending tends to rise during times of economic growth and low unemployment. However, it’s important to note that the sector can also be volatile, as consumer spending can be impacted by economic downturns or shifts in consumer preferences.

To succeed in investing in consumer discretionary stocks, investors must carefully analyze a company’s financials, management, and industry trends. Factors to consider include the company’s product offerings, brand recognition, and market share. It’s also important to understand consumer preferences and shifts in market trends, such as the increasing popularity of e-commerce and the decline of traditional brick-and-mortar retailers. With that said, here are two consumer discretionary stocks to watch in the stock market now.

Consumer Discretionary Stocks To Watch Now

The Home Depot (HD Stock)

To start, The Home Depot Inc. (HD) is a home improvement retailer that sells a wide range of building materials, home improvement products, and lawn and garden products. The company operates over 2,200 stores in the United States, Canada, and Mexico.

Back in February, Home Depot reported better-than-expected 4th quarter 2022 financial results. In detail, the company posted Q4 2022 earnings of $3.30 per share, with revenue of $35.8 billion. This was versus Wall Street’s consensus estimates which were earnings of $3.26 per share, with revenue estimates of $36.0 billion.

In the last month of trading, shares of Home Depot stock have increased by 1.59%. Meanwhile, off the open on Monday morning, HD stock is trading modestly higher by 0.21% on the day so far at $292.83 a share.

Source: TD Ameritrade TOS

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Starbucks Corporation (SBUX Stock)

Second, Starbucks Corporation (SBUX) is a global coffee company and coffeehouse chain that operates over 36,000 stores in more than 80 countries. The company offers a variety of beverages, food items, and merchandise, as well as branded coffee products sold in grocery stores.

Earlier this month, Starbucks Corporation announced its most recent quarterly dividend. Diving in, the company’s Board of Directors declared a quarterly cash dividend of $0.53 per share on common stock. Moreover, the dividend is payable on May 26, 2023, to shareholders of record on May 12, 2023. As a result, SBUX has an annual dividend yield of 1.96%.

Looking at the last month of trading, Starbucks’ stock has advanced by 9.83%. While, on Monday morning, shares of SBUX stock opened higher on the day so far by 0.83% at $108.36 a share.

Source: TD Ameritrade TOS

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By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

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Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

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