5 Best Counter Cyclical Stocks to Invest in

In this piece, we will take a look at the five best counter cyclical stocks to invest in. If you want to learn all there is to learn about counter cyclical stocks, then read 12 Best Counter Cyclical Stocks to Invest in.

5. Kenvue Inc. (NYSE:KVUE)

Number of Hedge Fund Investors In Q4 2023: 64

Kenvue Inc. (NYSE:KVUE) is an American consumer health and wellness products manufacturer. The firm is currently dealing with the aftermath of its divestment from consumer giant JNJ and is purportedly investing more to beef up its cybersecurity.

By the end of Q4 2023, 64 out of the 933 hedge funds part of Insider Monkey’s database had held a stake in Kenvue Inc. (NYSE:KVUE).

4. PepsiCo, Inc. (NYSE:PEP)

Number of Hedge Fund Investors In Q4 2023: 64

PepsiCo, Inc. (NYSE:PEP) is another iconic American carbonated beverage maker. The firm has been doing on the financial front as of late, since it has beaten analyst EPS estimates in all four of its latest quarters.

As of December 2023 end, 64 out of the 933 hedge funds tracked by Insider Monkey were the firm’s investors. Terry Smith’s Fundsmith LLP owned the biggest PepsiCo, Inc. (NYSE:PEP) stake which was worth $1.1 billion.

3. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Investors In Q4 2023: 68

Philip Morris International Inc. (NYSE:PM) is a tobacco major headquartered in Stamford, Connecticut. The firm is currently going all in with its smokeless tobacco products and is gearing up to launch one such product in Texas as the world starts to shift to eCigarettes.

Insider Monkey scoured through 933 hedge fund portfolios for their fourth quarter of 2023 shareholdings and found that 68 had bought the firm’s shares. Philip Morris International Inc. (NYSE:PM)’s largest hedge fund investor is Terry Smith’s Fundsmith LLP due to its $1.4 billion stake.

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

Number of Hedge Fund Investors In Q4 2023: 71

The Procter & Gamble Company (NYSE:PG) is one of the biggest consumer products companies in the world, making it yet another perfect counter cyclical stock. The shares are rated Buy on average, and the average analyst share price target is $169.89.

During last year’s December quarter, 71 out of the 933 hedge funds tracked by Insider Monkey had invested in the firm. The Procter & Gamble Company (NYSE:PG)’s biggest stakeholder in our database is Ken Fisher’s Fisher Asset Management due to its $1.5 billion investment.

1. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Investors In Q4 2023: 85

Walmart Inc. (NYSE:WMT) is the mega American grocery and retail store chain headquartered in Bentonville, Arkansas. Its heft hasn’t stopped Walmart Inc. (NYSE:WMT) from growing, with a successful omni channel strategy resulting in growth. The shares are rated Strong Buy on average, and the average analyst share price target is $65.56.

85 out of the 933 hedge funds surveyed by Insider Monkey during Q4 2023 had bought and owned Walmart Inc. (NYSE:WMT)’s shares. Ken Fisher’s Fisher Asset Management was the largest shareholder, owning 28 million shares that are worth $1.5 billion.

Disclosure: None. You can also take a look at the 10 Unstoppable Tech Stocks To Buy and Warren Buffett’s Portfolio: 15 Longest Held Stocks.

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