In today’s changing economic landscape, where the risk of recession remains a concern, consumer staples stocks are gaining popularity. Last year, inflation forced the Federal Reserve to raise interest rates. Despite the stock market’s bullish trend, the U.S. recession probability was high at 62.9% in December 2023. Consumer staples stocks are a wise investment choice due to their stability and growth potential, making them a safe bet in uncertain times. As we move into 2024, let’s explore seven exceptional consumer staples stocks with promising upside.
One standout stock is Mondelez International (NASDAQ: MDLZ), a leader in the global confectionery and snacks industry. The company reported strong third-quarter results with $9.02 billion in sales, a 16.2% year-over-year increase, and an adjusted EPS of 82 cents, beating estimates by four cents. Mondelez raised its net organic revenue growth forecast to 4-15% and adjusted EPS growth projection to 16%. With a forward dividend yield of 2.33% and a decade of dividend growth, Mondelez offers a compelling dividend profile, solidifying its position among top consumer staples stocks.
It’s important to note that the opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Muslim Farooque, a passionate investor and tech enthusiast, holds a bachelor’s degree in applied accounting from Oxford Brookes University. For more investment opportunities, consider exploring the top consumer staples stocks for recession-proof profits in 2024.