Consumer staples are goods and services that people buy on a regular basis regardless of their income level or the state of the economy. These products are essential for everyday life, so even when economic conditions become unfavorable, consumers continue to purchase them.
Consumer staples stocks are securities that represent companies in the consumer staples industry. This sector of the stock market includes companies involved in the production, distribution, and sale of essential goods and services needed by the public on a regular basis.
This means that when the economy is doing well, these stocks can perform even better than usual due to increased demand. On the other hand, when the market is down, these stocks can still provide investors with a steady stream of income. Let’s take a look at two consumer staples stocks to check out in the stock market this month.
Consumer Staples Stocks To Watch Right Now
Kroger (KR Stock)
Leading off, The Kroger Company (KR) is one of the largest grocery store chains in the United States. For a sense of scale, the company operates more than 2,700 stores throughout the U.S. Additionally, Kroger also has a strong presence in the online retail space, with its own website and a number of mobile apps.
KR Recent Stock News
Just this month, Kroger reported its third-quarter 2022 financial and operating results. In detail, Kroger reported Q3 2022 earnings of $0.88 per share with revenue of $34.2 billion. For context, Wall Street’s consensus estimates for the quarter were earnings of $0.82 per share and revenue of $34.0 billion. What’s more, the company was able to report a 7.3% increase in revenue versus the same period, in 2021.
Furthermore, Chairman and CEO Rodney McMullen commented, “Kroger achieved strong results in the third quarter as we continue to execute our Leading with Fresh and Accelerating with Digital strategy. Our associates are doing an outstanding job delivering a full, fresh and friendly experience across our seamless store and digital ecosystem.“
KR Stock Chart
So far in 2022, shares of KR stock are up 5.27%, outperforming the broader markets year-to-date. Meanwhile, as of Friday’s closing bell, Kroger’s stock closed the day at $47.57 per share.
[Read More] Stocks To Invest In Right Now? 3 Biotech Stocks To Watch
Procter & Gamble (PG Stock)
Next, The Procter & Gamble Company (PG) is an American multinational consumer goods corporation. The company has a diversified product portfolio that includes brands such as Ariel, Gillette, and Oral-B.
PG Recent Stock News
In October, PG reported a beat for its Q1 2023 financial results. Diving in, the company announced first-quarter 2023 earnings of $1.57 per share and revenue of $20.6 billion. The street’s consensus estimates for Q1 2023 were earnings of $1.55 per share, and revenue estimates of $20.6 billion. Moreover, the company also reaffirmed its fiscal year 2023 estimates. Specifically, the company said it now estimates earnings of $5.81 to $6.04 per share, while now estimating FY 2023 revenue of $77.78 billion to $79.38 billion.
PG Stock Chart
In the last month of trading, shares of PG stock have rebounded slightly over 12%. Meanwhile, Procter & Gamble stock is set to open Monday morning’s trading session at $150.21 a share.
If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!
