For the uninitiated, food stocks are companies that are involved in the production, processing, and distribution of food and beverage products. These companies operate in a variety of segments, including agriculture, packaged goods, restaurants, and supermarkets. Investing in food stocks can be an attractive option for investors seeking a stable and reliable source of returns, as the demand for food and beverage products tends to be relatively stable over time.
When investing in food stocks, it’s important to consider the company’s financials and growth prospects, as well as factors such as market share, brand recognition, and the competitive landscape within the industry. Investors may also want to consider factors such as global population growth and changing consumer preferences when evaluating potential food stocks. Some food companies may also have a focus on sustainability, which can be an attractive investment opportunity for those seeking to align their investments with their values.
Overall, investing in food stocks can offer investors a way to potentially benefit from the stability and growth potential of the food and beverage industry. However, it’s important to carefully research each company and its financials before making any investment decisions. By doing so, investors can make informed decisions and potentially achieve their investment goals. Considering this, here are three top food stocks to watch in the stock market now.
Food Stocks To Buy [Or Avoid] In March 2023
- Chipotle Mexican Grill Inc. (NYSE: CMG)
- McDonald’s Corporation (NYSE: MCD)
- Restaurant Brands International Inc. (NYSE: QSR)
Chipotle Mexican Grill (CMG Stock)
Firstly, Chipotle Mexican Grill Inc. (CMG) is a popular fast-casual restaurant chain that specializes in Mexican-inspired cuisine. With a focus on using fresh ingredients and sustainable practices, Chipotle has gained a loyal customer base and has seen significant growth in recent years.
Last month, Chipotle Mexican Grill released its 4th quarter 2022 and full-year financial results. Diving in, the company reported earnings of $8.29 per share, along with revenue of $2.2 billion. This is in comparison with Wall Street’s consensus estimates which were earnings of $8.88 per share, with revenue estimates of $2.2 billion. What’s more, revenue grew by 11.2% versus the same period, the previous year.
In 2023 so far, shares of CMG stock have increased by 9.94% YTD. Meanwhile, as of Tuesday’s power hour trading session, CMG stock is trading modestly higher on the day by 0.14% at $1,507.25 a share.
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McDonald’s Corporation (MCD Stock)
Second, McDonald’s Corporation (MCD) is a well-established fast-food restaurant chain that has a global presence. With a strong brand and a focus on offering affordable, convenient food options, McDonald’s has remained a popular choice for consumers around the world.
Moving along, at the end of January, McDonald’s reported better-than-expected 4th quarter 2022 financial results. In the report, the company reported earnings of $2.59 per share, along with revenue of $5.9 billion. This was versus analysts’ consensus estimates which were earnings per share of $2.46, and revenue estimates of $5.6 billion.
Year-to-date, McDonald’s stock is trading modestly higher on the year so far up 1.06%. Meanwhile, as of Tuesday’s closing bell, shares of MCD stock closed the day down 1.30% at $267.13 a share.
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Restaurant Brands International (QSR Stock)
Last but not least, Restaurant Brands International Inc. (QSR) is a fast-food holding company that owns several well-known brands, including Burger King, Tim Hortons, and Popeyes Louisiana Kitchen.
In February, the company also released its fourth-quarter 2022 financial results. Specifically, Restaurant Brands International reported Q4 2022 earnings of $0.72 per share, on revenue of $1.7 billion. This is in comparison with Wall Street’s estimates for the quarter which were earnings of $0.72 per share, with revenue of $1.7 billion. Additionally, revenue increased by 9.2% versus the same period, the prior year.
This year so far, shares of QSR stock are down by 2.40%. Meanwhile, as of Tuesday’s closing bell, QSR stock closed the day down 2.39% at $62.95 a share.
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