Consumer staples stocks are companies that produce and sell products that have the label of essential or necessary for everyday life. These are products that people will continue to buy, even during difficult economic times, because they are considered essential for maintaining their daily routines. Examples of consumer staples products include food, beverages, household goods, personal care items, and other similar products.
Consumer staples stocks are generally considered to be a defensive investment because they are not as sensitive to economic downturns as other types of stocks. This makes them a popular choice for investors who are looking to protect their portfolios from market volatility. With this in mind, here are three consumer staples stocks to watch in the stock market this week.
Consumer Staples Stocks To Watch Now
Diageo (DEO Stock)
Diageo (DEO) is a global leader in the premium drinks industry. The British-based multinational produces and distributes an impressive range of beer, wine, spirits, and ready-to-drink premixes for consumers worldwide. Diageo’s portfolio of products includes leading brands such as Smirnoff Vodka, Guinness Stout, Johnnie Walker whiskey, Baileys liqueur, and more.
In November, Diaego announced it will acquire Balcones Distilling. In detail, Balcones is a Texas craft distiller. As well as one of the leading producers of American Single Malt Whisky in the United States. What’s more, Claudia Schubert, President, of Diageo North America, said, “We are delighted to welcome Balcones Distilling into Diageo. The Balcones team are true innovators and pioneers in the emerging American Single Malt and Texas whisk(e)y movements, and their super premium plus whiskies are highly complementary to our whisk(e)y portfolio.“
So far in 2022, shares of DEO stock are down 16.18% year-to-date. However, in the last month of trading activity, DEO stock has recovered by 6.97%. As we head into Monday morning’s trading session, DEO stock will look to open at around 185.18 a share based on Friday’s close of after-hour trading.
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Colgate-Palmolive (CL Stock)
Colgate-Palmolive is one of the world’s leading consumer product companies. With a portfolio of trusted brands that span oral care, personal care, home care, pet nutrition, and fabric care products, Colgate-Palmolive meets a wide variety of consumer needs. Moving along, at the end of October, the company announced its third-quarter 2022 financial results.
In the report, Colgate-Palmolive announced Q3 2022 earnings of $0.74 per share and revenue of $4.5 billion for Q3. This is versus consensus estimates, which were earnings of $0.74 per share, along with revenue of $4.5 billion. Additionally, Colgate-Palmolive also said it now estimates FY 2022 earnings in the range of $2.95 to $2.99 per share along with revenue of approximately $17.8 billion.
In 2022 so far, shares of CL stock are down 8.05%, though they are still outperforming the overall markets year-to-date. Meanwhile, in the last month of trading, CL stock has bounced by 4.30% as of Friday’s closing bell at $77.78 a share.
Hershey Company (HSY Stock)
Hershey Company (HSY) is a leading global confectionery and snacking company. In brief, the company creates some of the best-known and most beloved brands across the globe. Today, HSY shareholders enjoy an annual dividend yield of 1.75%.
Just last month, the company announced its third-quarter 2022 financial and operating results. Diving in, Hershey reported Q3 2022 earnings of $2.17 per share and revenue of $2.7 billion. For context, this is versus the street’s consensus estimates which were earnings of $2.07 per share, and revenue of $2.6 billion. Additionally, the company notched in a 15.6% increase in revenue versus the same period, in 2021. Moreover, Hershey said it now expects FY 2022 earnings of $8.20 to $8.27 per share and revenue estimates of $10.23 billion to $10.32 billion.
Aside from that, year-to-date shares of HSY stock have advanced by 22.55%, outperforming the broader markets so far in 2022. Over the last month of trading, HSY stock has increased another 8.55% as of Friday’s closing bell at $236.77 a share.