5 Best Consumer Staples Stocks To Buy Now

In this piece, we will take a look at the five best consumer staples stocks to buy now. For a deeper look at the consumer staples sector, take a look at 14 Best Consumer Staples Stocks To Buy Now.

5. The Coca-Cola Company (NYSE:KO)

Number of Hedge Fund Investors In Q2 2023: 61

The Coca-Cola Company (NYSE:KO) is one of the biggest beverage companies in the world. It is also arguably one of the strongest consumer staple stocks in the world since the firm has operations in nearly every country on the planet, and despite this, the firm trades for a forward price to earnings ratio of 19.38

During Q2 2023, 61 out of the 910 hedge funds polled by Insider Monkey had held a stake in The Coca-Cola Company (NYSE:KO). Out of these, none other than Warren Buffett’s Berkshire Hathaway is the firm’s biggest shareholder since it owns a whopping 400 million shares for a $24 billion investment.

4. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Investors In Q2 2023: 67

Costco Wholesale Corporation (NASDAQ:COST) is a discount retailer that sees buyers flock to its stores as incomes drop. A tight economy and high inflation seem to be working for the firm, as it shared in a recent conference call that its subscription renewals were at an all time high.

By the end of this year’s second quarter, 67 out of the 910 hedge funds tracked by Insider Monkey had bought the firm’s shares. Costco Wholesale Corporation (NASDAQ:COST)’s largest investor in our database is Ken Fisher’s Fisher Asset Management due to its $1.4 billion stake.

3. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Investors In Q2 2023: 68

PepsiCo, Inc. (NASDAQ:PEP) is another global beverage company. It is another consumer staples stock that has beaten analyst EPS estimates in all four of its latest quarters, and for its third quarter, Wall Street has penciled in $2.15 in EPS.

Insider Monkey dug through 910 hedge funds for 2023’s June quarter and discovered that 68 had held a stake in PepsiCo, Inc. (NASDAQ:PEP). Terry Smith’s Fundsmith LLP is the biggest stakeholder out of these since it owns $1.2 billion worth of shares.

2. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Investors In Q2 2023: 74

The Procter & Gamble Company (NYSE:PG) is a household products giant that makes and sells beauty, healthcare, baby care, and other products. The firm stepped up relief efforts in the wake of Hurricane Idalia in Florida in September 2023 by providing free laundry services.

As of June 2023, 74 out of the 910 hedge funds tracked by Insider Monkey had bought the firm’s shares. The Procter & Gamble Company (NYSE:PG)’s largest investor in our database is Ken Fisher’s Fisher Asset Management since it owns 4.8 million shares that are worth $737 million.

1. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Investors In Q2 2023: 81

Walmart Inc. (NYSE:WMT) is the largest brick and mortar retailer in the world. Like other large companies, the firm is also developing artificial intelligence models internally, as it plans to ‘blend’ management thinking and company culture into its AI models.

81 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 database had invested in Walmart Inc. (NYSE:WMT). Ken Fisher’s Fisher Asset Management is the biggest shareholder among these courtesy of a $1.3 billion investment.

Disclosure: None. You can also take a look at 10 Best Canadian ETFs and 10 Stocks that will Bounce Back According to Reddit.

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