Consumer staples are essential products and services that consumers need to buy regardless of their financial situation. This can include items such as food, beverages, household goods, and personal care products. With that, consumer staples stocks represent companies that manufacture, distribute, and sell these essential products and services.
Investing in consumer staples stocks can provide investors with a range of benefits. Such as exposure to resilient and growing sectors of the economy, predictable cash flows, and dividend yields. Consumer staples companies are known for their ability to generate strong cash flows in both good and bad economic environments, and their products are often in high demand, making their revenue streams more stable than other sectors. Additionally, many consumer staples companies have a history of paying dividends to their shareholders, making them an attractive option for income-seeking investors.
However, it is important to note that investing in consumer staples stocks also carries risks. For example, changes in consumer preferences and behaviors, and increased competition from new entrants. As with any investment, it is crucial to conduct thorough research and analysis before making investment decisions in consumer staples stocks, taking into account the company’s specific products, financial performance, and broader economic and market conditions. With that said, let’s dive into three consumer staples stocks to watch in the stock market today.
Consumer Staples Stocks To Buy [Or Avoid] Now
- Target Corporation (NYSE: TGT)
- Walmart Inc. (NYSE: WMT)
- Mondelez International Inc. (NASDAQ: MDLZ)
Target Corporation (TGT Stock)
First, Target Corporation (TGT) is a leading retailer in the United States, offering a range of consumer staples products such as food, household essentials, personal care, and clothing. For a sense of scale, the company currently has nearly 2,000 stores.
Last month, Target Corporation reported that its Board of Directors has approved a quarterly dividend of $1.08 per common share. The dividend will be payable to shareholders of record as of February 15, 2023, on March 10, 2023. This dividend marks the 222nd consecutive dividend payment since the company went public in October 1967. This results, in an annual dividend yield for shareholders of 2.47%.
Over the last month of trading, Target stock has rebounded by 7.57%. While, during Thursday morning’s trading session, shares of TGT stock opened lower by 0.94% trading at $174.37 per share.
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Walmart Inc. (WMT Stock)
Next, Walmart Inc. (WMT) is another leading retailer in the United States and the world’s largest company by revenue. To start, Walmart offers a variety of consumer staples products through its retail stores, online platforms, and other channels.
Earlier this week, Walmart announced it will release its 4th quarter 2023 financial results. In detail, the company is set to report its Q4 2023 results on February 21, 2023. It will be hosted by the company’s CEO, Doug McMillon, and CFO, John David Rainey. To quickly recap during Q3 2023, WMT reported earnings of $1.50 per share along with revenue of $152.8 billion.
In the last month of trading, shares of Walmart stock are trading modestly higher by 0.37%. Meanwhile, during Thursday morning’s trading action, WMT stock fell off the open by 1.11%, currently trading at $144.94 a share.
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Mondelez (MDLZ Stock)
Finally, Mondelez International Inc. (MDLZ) is a multinational snack food and beverage company that offers a range of consumer staples products, including chocolate, biscuits, gum, and candy. MDLZ’s portfolio of brands includes well-known names such as Oreo, Cadbury, Toblerone, and Trident, making it one of the largest snack food companies in the world.
At the beginning of this month, Mondelēz announced that its Board of Directors has approved a regular quarterly dividend of $0.385 per share of Class A common stock. The dividend will be paid on April 14, 2023, to shareholders of record as of the close of business on March 31, 2023. This results in an annual dividend yield of 2.39% for shareholders.
Looking at the last month of trading, shares of Mondelez stock have dipped by 3.69%. Additionally, on Thursday morning MDLZ stock opened the trading day lower by 1.74%, trading at $64.54 a share.
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