Consumer staples are essential goods that people consume regularly, such as food, household products, and personal care items. These goods are considered non-discretionary, meaning that consumers will continue to purchase them regardless of economic conditions. As a result, companies that produce and sell consumer staples tend to be less volatile than those in other industries, making them attractive to investors seeking stability in their portfolios.
Investing in consumer staples stocks can provide a steady stream of income, as many of these companies pay dividends to their shareholders. Additionally, consumer staples companies often have strong brand recognition, which can provide a competitive advantage and potentially lead to higher profit margins. As such, investing in consumer staples can be a way to mitigate risk and provide steady returns over the long term. Some examples of consumer staples stocks include Procter & Gamble (NYSE: PG), and Coca-Cola (NYSE: KO). If this has you keen on investing in the consumer staples sector, here are two to watch in the stock market today.
Consumer Staples Stocks To Watch Right Now
Walmart (WMT Stock)
To start, Walmart Inc. (WMT) is a multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. The company offers a wide variety of products, including electronics, home goods, apparel, food, and more, to customers worldwide.
Today, Tuesday, Walmart reported its full-year 2023 4th quarter financial results. Diving in, Walmart reported earnings of $1.71 per share, along with revenue of $164.0 billion, beating the consensus estimate of $1.52 per share on revenue of $159.1 billion. Moreover, the company reported year-over-year revenue growth of 7.3%. Walmart has also given guidance for the first quarter, forecasting earnings of $1.20 to $1.30 per share on revenue of $147.94 billion to $148.65 billion.
During the last month of trading, shares of WMT stock are up 3.37%. While, on Tuesday afternoon, WMT stock is trading modestly higher on the day by 0.72% at $147.50 per 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. The company provides a range of construction and home improvement products, services, and solutions. The company’s product line includes building materials, home improvement tools, lawn and garden supplies, and appliances, among others.
Also today, Tuesday, Home Depot (HD) reported better-than-expected earnings for the 4th quarter of the fiscal year 2022. In detail, the company reported Q4 2022 earnings of $3.30 per share, along with revenue of $35.8 billion. This is versus consensus estimates of $3.26 per share on revenue of $36.0 billion. Furthermore, the company reported that it estimates earnings of approximately $15.86 per share on revenue of approximately $157.40 billion for the fiscal year 2024.
Looking at the last month of trading action, shares of HD stock have dropped 5.89%. Meanwhile, during Tuesday’s afternoon trading session, Home Depot is trading lower on the day by 6.68% at $296.72 per share.
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