This sector continues to climb, and 7 “strongest” stocks also pay big dividends – 24/7 Wall St.
For investors, 2022 has been a very dark year. The Nasdaq and S&P 500 are back in bearish territory. The stock market is poised for more trouble, with Federal Reserve Chairman Jerome Powell noting that rates will rise to 4.4% by the end of this year and will likely have a final final rate of 4.6% in 2023. Many top analysts and strategists see a downside. in the venerable S&P 500 at 3,100. That would be another 20% decline from current trading levels.
There are always places where investors can take shelter from the interest rate storm, and sectors like utilities and healthcare are often seen as safe havens. The sector that has seen the biggest moves recently is consumer staples: 12 of the top 20 gainers in the S&P 500 on Wednesday, when the Fed raised rates an additional 75 basis points, were the leaders in consumer staples.
We scoured our 24/7 search database on Wall St. for the best consumer staples companies. The seven that hit our screens all pay large and reliable dividends, are ranked Buy from Wall Street’s top companies, and are probably among the best places to move to now.
It is important to remember that no single analyst report should be used as the sole basis for any buy or sell decision.
This is a solid stock for conservative investors looking for growth and income. Conagra Brands Inc. (NYSE: CAG) is a North American food company. Its brands include Marie Callender’s, Reddi-wip, Hunt’s, Healthy Choice, Slim Jim, Orville Redenbacher’s, Alexia, Frontera, Banquet and Chef Boyardee.
The Company’s Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States. The Chilled and Frozen segment provides temperature-controlled food products in various retail channels in the United States. The International Reporting segment offers food products in various temperature states in retail and restaurant channels outside of the United States.
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The Foodservice segment offers food products, including custom-made meals, entrees, sauces and various culinary products packaged for sale, to restaurants and other food service establishments in the United States.
Conagra Brands equity investors receive a 3.85% dividend. Evercore ISI has a target price of $40. The consensus lower target is $36.03 and the stock closed Thursday trading at $34.76.