Consumer staples are basic items that people need to live, such as food, shelter, and clothing. With that, consumer staples stocks are shares of publicly-traded companies that provide these essential goods and services. Consumer staples stocks tend to be less volatile than other types of stocks in the stock market, as people will continue to need these basic items even during economic downturns.
As a result, investing in consumer staples stocks can provide a measure of stability for an investment portfolio. Consumer staples stocks also offer dividend payments, which can provide income for investors. For these reasons, consumer staples stocks are often considered to be a safe investment. If this has you interested in investing in the consumer staples sector, here are two names to check out in the stock market today.
Consumer Staples Stocks To Buy [Or Sell] Right Now
Mondelez International (MDLZ Stock)
First, Mondelez International (MDLZ) is one of the world’s largest snack companies. Additionally, Mondelez International’s portfolio includes some of the world’s best-known consumer brands, such as Oreo, Nabisco, and Cadbury.
MDLZ Recent Stock News
At the beginning of November, Mondelez announced a beat for its most recent third-quarter 2022 financial and operating results. In detail, the company reported Q3 2022 earnings of $0.74 per share, with revenue of $7.8 billion. These revenue figures reflect an 8.1% increase compared to the same period, in 2021. In addition, Mondelez also reported its return of capital to shareholders was $3.3 billion year-to-date.
Moreover, Dirk Van de Put, Chairman and CEO commented, “Our third quarter performance demonstrates the resilience of our snacking categories, strength of our brands, broad-based net revenue growth of both our emerging and developed markets, effective execution of pricing, and solid volume growth, enabling us to raise our full-year revenue and earnings outlook.“
MDLZ Stock Chart
In the last month of trading, shares of Mondelez stock have rebounded 13.62%. Meanwhile, as of Wednesday morning, MDLZ stock is trading higher by 1.01% at $65.30 a share.
[Read More] Top Dividend Stocks To Buy Now? 3 For Your List
General Mills (GIS Stock)
Next, General Mills (GIS) is one of the largest global packaged food companies. In detail, the company produces items such as snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Most notably, some of its most popular brands are Nature Valley, Cheerios, Old El Paso, Yoplait, Pillsbury, Betty Crocker, BLUE, and Haagen-Dazs.
GIS Recent Stock News
On Monday of this week, General Mills announced its quarterly dividend. In detail, the company’s Board of Directors has declared a quarterly dividend of $0.54 per share. The dividend is payable to shareholders on February 1, 2023, to shareholders on record as of January 10, 2023.
This results, in an annual dividend yield of 2.72% for GIS shareholders. What’s more, this dividend marks 124 years General Mills has paid a dividend to its shareholders without any interruption.
GIS Stock Chart
So far in 2022, shares of General Mills stock are up 18.08%, outperforming the broader markets year-to-date. On Wednesday morning, GIS stock opened green by 2.57%, currently trading at $79.43 a share.