The consumer sector includes companies that produce goods and services for personal use. It includes a wide range of industries, such as retail, automotive, apparel, and luxury goods. This sector is closely tied to the overall health of the economy. It often reflects consumer spending habits, driven by income levels and economic confidence.
Investing in consumer stocks offers a glimpse into everyday consumer behavior and spending trends. These stocks can provide steady growth in stable economic times. They are susceptible to fluctuations during economic downturns or shifts in consumer preferences. Investors often monitor key indicators like consumer confidence and retail sales data to gauge the sector’s health.
When considering investments in consumer stocks, it’s essential to evaluate company fundamentals and market position. Look for companies with strong brand loyalty, efficient supply chains, and adaptability to changing market conditions. With that being said, here are two consumer stocks to watch in the stock market now.
Consumer Stocks To Buy [Or Avoid] Now
Target (TGT Stock)
First up, Target Corporation (TGT) is an American retail giant, known for its wide range of merchandise including clothing, electronics, and household goods. The company operates hundreds of stores across the United States, also offering online shopping and delivery services to cater to the evolving needs of consumers.
Earlier this week, Target announced better-than-expected third-quarter 2023 earnings results. Diving in, the company reported earnings of $2.10 per share, with revenue of $25.40 billion. For context, this is compared to analysts’ estimates which were an EPS of $1.48 per share, on revenue of $25.30 billion.
Over the last five trading days, shares of TGT stock have jumped by 20.01%. Meanwhile, during Friday’s late morning trading session, Target stock is trading flat on the day so far at $129.98 a share.
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Home Depot (HD Stock)
Next, The Home Depot Inc. (HD) is the largest home improvement retailer in the United States, supplying tools, construction products, and services. The company has thousands of stores across North America, The Home Depot has become synonymous with home renovation and construction supplies, also offering a range of workshops and project guides.
Just this week, Home Depot announced its third-quarter dividend. In detail, the company reported that its Board of Directors declared a Q3 dividend of $2.09 per share. Furthermore, the dividend is payable on December 14, 2023, to shareholders of record on November 30, 2023. What’s more, this is the 147th straight quarter that Home Depot has paid out a cash dividend.
Moreover, in the last five trading days, Home Depot stock has advanced by 6.37%. While, during Friday’s late morning trading session, shares of HD stock are trading flat on the day at $306.33 per share.
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