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Worried About a Market Correction? Buy These 4 Safe Consumer Staples Stocks

Stock MarketsJul 29, 2021 05:31PM ET
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© Reuters. Worried About a Market Correction? Buy These 4 Safe Consumer Staples Stocks

Consumer staples companies are regarded as safe investment bets during times of market volatility owing to the relatively stable demand for their products. So, given the expected market correction, and/or continuing volatility, we think consumer staples companies PepsiCo (NASDAQ:PEP), Costco (COST), Altria Group (NYSE:MO), and Sysco (SYY) could be wise bets now. Read on.The stock market is expected to see a correction soon due to a resurgence of COVID-19 cases in the United States with the rapid spread of the Delta variant. However, many analysts expect a market correction of 10% to 15% will represent a “significant opportunity” to invest in quality stocks.

Amid the volatility concerns, consumer staples stocks could be good bets considering the inelastic demand for their companies’ products. The S&P 500 Consumer Staples Sector Index has gained 14.1% over the past year and 5.4% year-to-date. Companies operating in consumer staples should grow substantially amid the potential market slowdown because consumers tend to panic and purchase such items in bulk quantities.

Given this backdrop, we think leading consumer staples stocks PepsiCo, Inc. (PEP), Costco Wholesale Corporation (NASDAQ:COST), Altria Group, Inc. (MO), and Sysco Corporation (NYSE:SYY) should be good additions to one’s portfolio.

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Worried About a Market Correction? Buy These 4 Safe Consumer Staples Stocks
 

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