Check Out These Consumer Staples Stocks In The Stock Market Today
Given the current headwinds in the stock market, consumer staples stocks could be the go-to for investors looking to invest in stocks that offer more stability. This is because the consumer staples industry mainly consists of companies that produce or sell essential goods for everyday use. For instance, household goods, personal hygiene products, food, beverages, and other necessities. Therefore, even during an economic downturn, demand will still remain for staple goods. Hence, given the market volatility amid the ongoing Russia-Ukraine war, some investors may be keen on consumer staples stocks right now.
For instance, investors could be watching agriculture companies such as Archer-Daniels-Midland Company (NYSE: ADM). Since the start of the year, ADM stock has risen over 20%. Furthermore, it also recently announced the successful pricing of its first sustainable bond. ADM intends to use the net proceeds from the offering to finance projects that meet certain criteria outlined in its Sustainable Financing Framework. Elsewhere, we have food company Kraft Heinz (NYSE: KHC) which reported financials that beat Wall Street expectations. Namely, it delivered earnings per share of $0.79 against the $0.63 analysts were expecting. And with that being said, here are four other consumer staples stocks to watch in the stock market today.
Consumer Staples Stocks To Watch Right Now
- Dollar General Corporation (NYSE: DG)
- Dollar Tree Inc. (NASDAQ: DLTR)
- BJ’s Wholesale Club Holdings Inc. (NYSE: BJ)
- Walmart Inc. (NYSE: WMT)
Dollar General
Starting us off today is Dollar General. For the most part, it operates a chain of variety stores spanning across the U.S. With over 80 years of delivering value for its consumers, the company offers everyday products that range from food to health and cleaning supplies. Today, Dollar General has over 18,000 stores and sells products from some of the country’s most-trusted manufacturers. Yesterday, the company announced a series of new financial services. Evidently, these services are aimed at increasing access to banking options and providing customers with alternative payment methods.
Namely, the new services include Dollar General’s exclusive Spendwell banking platform and a buy-now, pay-later test program with Sezzle (OTCMKTS: SEZNL). In addition, the company is introducing a new FIS Worldpay card reward points payment option, all of which help bring more convenience to its customers. Apart from this, it is also planning to hire another 10,000 employees by the end of this year as it continues expanding. Dollar General announced last Friday that filling these new positions will mean a 6% boost to its current workforce as it plans to open another 1,110 locations. With that being said, would you invest in DG stock?
Dollar Tree
Dollar Tree is a leading operator of discount variety stores. It has over 16,000 stores across North America and is supported by a coast-to-coast logistics network and more than 193,000 associates. The company is also one of the fastest-growing retailers in the U.S. and offers an assortment of merchandise for the whole family. This would range from household items to health and brand-name foods. In the past year, DLTR stock has risen by over 35%.
Yesterday, Dollar Tree announced that it is reconstituting its board of directors. The board members will include former Dollar General chief executive Richard Dreiling and Paul Hilal, CEO of investment firm Mantle Ridge. Aside from this, Dollar Tree reported its quarterly earnings last week. Notably, the company brought its net sales of $7.08 billion, up by 4.6% from $6.77 billion a year ago. Additionally, diluted earnings per share were $2.01 for the quarter, beating consensus estimates of $1.79 per share. All in all, given the additions to the company’s board of directors and a steady quarterly performance, is DLTR stock a buy?
BJ’s Wholesale Club
Following that, we have BJ’s Wholesale Club. It is a membership-only warehouse club chain that operates across the U.S. The company operates over 200 clubs and over 150 BJ’s gas locations in 17 states. It continues to deliver significant value to its members, consistently offering 25% or more savings on a representative basket of manufacturer-branded groceries compared to traditional supermarket competitors. On top of that, BJ’s has over 6 million members and over $15.1 billion in annual sales.
Last week, it was found that BJ’s is piloting a smaller concept store named BJ’s Market. It aims to serve as an innovation lab and potentially become an expansion vehicle. BJ’s Market will allow for testing out new assortments, displays, product demonstrations, and other new initiatives. According to CEO Bob Eddy, the company is looking to promote a culture of growth. Thus, BJ’s Market is the exact place to do so as it provides freedom to test out innovative approaches to their existing model. Eddy also said, “All sorts of different things that we’d like to try out, see what works, and then take what works and port it back to the mothership.” Given this exciting news, will you be watching BJ stock?
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Walmart
As the world’s largest retailer, Walmart brings plenty to the table with its massive portfolio. From discount department stores to hypermarkets and grocery stores, the company does it all. For a sense of scale, the company currently operates a network of 10,500 stores spanning 24 countries. This alongside its e-commerce services continues to make Walmart a major shopping destination for consumers. Last week, the retailer launched a new virtual fitting room service called Choose My Model (CMM).
This service is the company’s first implementation of Zeekit, a company that Walmart acquired last year. Through CMM, shoppers have access to a high-end software solution that helps them with picking out clothes. It accomplishes this by letting them choose models with similar body structures wearing clothes in Walmart’s catalog. Ideally, this would help consumers make better choices when shopping for clothing online. Furthermore, Walmart has been dipping its toes further into fashion lately. Notably, it launched a series of new private labels and added a number of national brands to its website. As such, do you think WMT stock is worth adding to your portfolio?
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