Consumer stocks refer to companies that produce and sell consumer goods. These are generally products that are purchased for personal or household use. These types of companies can include manufacturers, wholesalers, and retailers of products. For example, clothing, food, household goods, and personal care items. Examples of consumer stocks include:
- Fast food chains
- Beverage companies
- Grocery stores
- Department stores
- Clothing retailers
- Personal care product manufacturers
Investing in consumer stocks can be a way to tap into the growth of consumer spending and the overall health of the economy. However, it’s important to carefully research and evaluate the performance and financial health of a company before investing in its stock. It’s also important to diversify your portfolio and not rely too heavily on any one sector or industry. With this in mind, here are two blue-chip consumer stocks to watch in the stock market now.
Consumer Stocks To Watch Today
Coca-Cola Company (KO Stock)
First, The Coca-Cola Company (KO) is a global beverage company. In brief, the company produces and sells a variety of non-alcoholic beverages. This includes carbonated soft drinks, juices, sports drinks, and teas. Coca-Cola is one of the most well-known and widely recognized brands in the world.
In October, Coca-Cola announced better-than-expected third-quarter 2022 financial results. Diving in, the company notched in earnings of $0.69 per along with revenue of $11.1 billion for Q3 2022. Additionally, Coca-Cola also reported that revenue increased by 10.2% on a year-over-year basis. Moreover, the company raised its fiscal year 2022 outlook. Specifically, Coca-Cola said it now projects Fiscal Year 2022 earnings in the range of $2.46 to $2.48 per share. This is compared to their previously announced estimates, which were FY 2022 earnings between $2.44 to $2.46 per share.
Aside from that, in 2022 so far, shares of KO stock are up 5.63%, which is outperforming the broader markets year-to-date. Meanwhile, during Friday’s mid-morning trading session, KO stock is trading slightly down on the day by 0.51% at $62.79 a share.
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Clorox Company (CLX Stock)
Next, The Clorox Company (CLX) is a multinational manufacturer of consumer and professional products. This includes household cleaning and laundry products, charcoal, and other household goods. The Clorox Company’s portfolio of consumer brands includes a range of household cleaning products. Such as bleach, all-purpose cleaners, disinfecting wipes, and trash bags.
In recent news, last month Clorox announced that its Board of Directors has declared its quarterly dividend of $1.18 per share on common stock. Furthermore, the dividend is payable on February 10, 2023, to shareholders of record at the end of business day on January 25, 2023. What’s more, the Clorox Company has raised its dividend for 20 straight years, while paying an annual dividend to shareholders for more than 50 consecutive years.
Year-to-date shares of Clorox stock are down 16.56% so far in 2022. Though, shares of CLX stock have rebounded by just over 19%. Meanwhile, during Friday’s late-morning trading session, CLX stock is trading down on the day by 0.15% at $146.14 a share.
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