The consumer industry, an expansive sector of the global economy, encompasses companies that produce goods and services aimed directly at individual consumers. This vast realm includes everything from food and apparel to luxury items and entertainment services. Reflecting the vast array of products and services that punctuate daily life. As the tastes, preferences, and buying behaviors of consumers evolve, so too does this dynamic industry. Continually adapting to cater to an ever-changing populace with varied needs and desires.
Consumer stocks represent a significant portion of the stock market. It refers to the equities of companies operating within the consumer industry. These stocks are often classified into two main categories: consumer discretionary and consumer staples. While consumer discretionary stocks involve goods and services deemed non-essential, such as luxury goods, entertainment, and dining, consumer staples represent essential products like food, beverages, and household items that are consistently in demand regardless of economic conditions.
Investing in consumer stocks can be an enticing prospect for many investors. Given the direct correlation between these stocks and consumer behavior, they offer insights into broader economic trends and shifts in societal preferences. Furthermore, consumer staples, with their consistent demand, often provide a stable and defensive investment during economic downturns. On the other hand, consumer discretionary stocks, influenced by economic cycles, can offer higher growth potential during economic upswings. As with any investment, a balanced understanding of the industry’s nuances and thorough research are pivotal when diving into the diverse world of consumer stocks. Given this, here are two consumer stocks to watch in the stock market now.
Consumer Stocks To Watch In The Stock Market Today
- The Home Depot Inc. (NYSE: HD)
- Pepsico Inc. (NASDAQ: PEP)
The Home Depot Inc. (HD Stock)
First up, The Home Depot Inc. (HD) is the largest home improvement retailer in the United States. The company offers an extensive range of construction and home renovation products and services.
Earlier this month, Home Depot’s board of directors declared its second-quarter dividend. In detail, the company declared a cash dividend of $2.09 per share for Q2. The dividend is payable on September 14, 2023, to those of record by the end of business on August 31, 2023. Notably, this marks the 146th straight quarter that The Home Depot has distributed a cash dividend to its shareholders.
In the last six months of trading, shares of HD stock have advanced by 9.06%. Meanwhile, during Friday’s afternoon trading session, Home Depot stock is trading flat on the day so far at $322.83 per share.
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Pepsico (PEP Stock)
Next, Pepsico Inc. (PEP) stands as a global food and beverage powerhouse with a diverse product portfolio that includes iconic brands such as Pepsi, Mountain Dew, Lay’s, and Quaker Oats. The company operates in over 200 countries, providing consumers with a broad spectrum of beverages and snack products.
Last month, PepsiCo, Inc. announced that its Board of Directors had approved a quarterly dividend of $1.265 per share of the company’s common stock, representing a 10% increase compared to the same period the previous year. The upcoming dividend will be paid on September 29, 2023, to shareholders of record by the end of business on September 1, 2023. Impressively, PepsiCo has a longstanding tradition of distributing quarterly cash dividends since 1965 and celebrated its 51st consecutive year of annual dividend growth in 2023.
Looking at the last six months of trading, shares of Pepsico stock are trading higher by 2.04%. Moreover, during Friday afternoon’s trading session, PEP stock is trading up by 1.31% at $179.50 a share.
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