The consumer sector includes companies that produce goods and services that are consumed by individuals or households. This sector is often considered a good indicator of the overall health of the economy, as consumer spending accounts for a significant portion of GDP.
Consumer stocks can be a potentially solid investment option for those seeking steady growth and consistent dividends. Also, consumer staples, such as food, household goods, and personal care products, are seen as necessities and are less impacted by economic downturns. Consumer discretionary stocks, such as retail and entertainment, are more sensitive to consumer sentiment and economic conditions.
Investing in consumer stocks can provide investors with the potential for long-term growth and stability. In particular, companies with a strong brand name and loyal customer base are generally considered to be more resilient to market volatility. Overall, here are two consumer stocks to watch in the stock market today.
Consumer Stocks To Watch Right Now
- PepsiCo, Inc. (NASDAQ: PEP)
- McDonald’s Corporation (NYSE: MCD)
PepsiCo (PEP Stock)
To start, PepsiCo, Inc. (PEP) is a leading global food and beverage company with a portfolio of iconic brands that include Pepsi, Frito-Lay, Quaker, Gatorade, and Doritos, to name a few. The company operates in over 200 countries.
Meanwhile, on Tuesday morning, PepsiCo reported a beat for its Q1 2023 financial results. Diving in, the company showed earnings of $1.50 per share, with revenue of $17.8 billion. This is versus analysts’ consensus estimates for the quarter which were earnings of $1.37 per share, and revenue of $17.2 billion. Moreover, revenue increased 10.2% versus the same the year, the previous year.
Following its Q1 2023 results, shares of PEP stock are trading higher on Tuesday morning up 1.87% at $188.97 a share.
[Read More] 3 Cyclical Stocks For Your April 2023 Watchlist
McDonald’s Corporation (MCD Stock)
Next, McDonald’s Corporation (MCD) is a global fast-food giant with over 40,000 locations in more than 100 countries. The company’s iconic menu includes the Big Mac, Quarter Pounder, and the Egg McMuffin.
Today, Tuesday, McDonald’s posted its Q1 2023 earnings results. In detail, the company reported better-than-expected 1st quarter 2023 results. Specifically, MCD announced earnings of $2.63 per share, on revenue of $5.9 billion. This is in comparison with Wall Street’s consensus estimates for Q1 2023 which were earnings of $2.31 per share, and revenue estimates of $5.6 billion.
Moving along, on Tuesday morning off the open shares of MCD dropped by 0.62%, and is currently trading at $291.25 a share.
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