Consumer staples stocks continue to be some of the most reliable investments around. As we get ready to move into 2023, these companies could offer solid returns on investment yet also remain resilient during challenging economic times. Consumer staples refer to items such as food, beverage, hygiene, and household items remain in demand no matter what the current state of the economy may be.
Consumer staples stocks are often considered to be resilient investment options since the demand for their products is more consistent than in other sectors, even during periods of economic downturn. Investing in consumer staples can also be seen as a way to hedge risk while maintaining returns, making it a popular choice among investors in uncertain markets. With this in mind, here are two consumer staples stocks to add to your stock market watchlist in 2023.
Consumer Staples Stocks To Watch Today
- Costco Wholesale Corporation (NASDAQ: COST)
- The Kraft Heinz Company (NASDAQ: KHC)
Costco Wholesale (COST Stock)
First, Costco Wholesale Corporation (COST) is a membership-based warehouse retailer that provides a wide selection of merchandise, including grocery items, electronics, home and garden products, clothing, and more.
Earlier this month, Costco Wholesale Corporation reported its Q1 2023 financial and operating results. In detail, the company posted Q1 2023 earnings of $3.10 per share and revenue of $54.4 billion. Wall Street’s consensus estimates for the quarter were earnings of $3.14 per share, and revenue estimates of $54.8 billion. Meanwhile, the company also reported an 8.1% increase in revenue versus the same period, the previous year.
In the last month of trading, shares of COST stock have fallen by 14.63%. Meanwhile, during Friday morning’s trading session, COST stock opened lower by 0.47%, currently trading at $456.56 a share.
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Kraft Heinz (KHC Stock)
After that, let’s turn our attention to Kraft Heinz Company (KHC). Simply put, The Kraft Heinz Company is a food and beverage company. Kraft Heinz’s products include a wide range of food and beverage items, such as condiments, snacks, meals, and beverages. In fact, the company has a portfolio of more than 200 brands that include well-known names such as Kraft, Oscar Mayer, Heinz, Velveeta, and Planters.
Back in October, Kraft Heinz Company announced better-than-expected Q3 2022 financial results. Diving in, Kraft Heinz reported third-quarter 2022 earnings of $0.63 per share and revenue of $6.5 billion. The street’s consensus estimates for Q3 2022 were earnings of $0.55 per share along with revenue of $6.3 billion. Additionally, the company currently offers an annual dividend yield for shareholders of 3.95%.
Year-to-date, shares of KHC stock are up 12.13%, which outperforms the broader markets so far in 2022. Meanwhile, during Friday morning’s trading action, shares are up modestly by 0.25%, currently trading at $40.46 a share.
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