5 Best Recession-Proof Stocks to Buy in October

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) is an American healthcare company that is one of the oldest in the industry as it was set up in 1886 and is headquartered in New Brunswick, New Jersey. The firm sells a wide variety of medicines such as those for arthritis, bowel disease, and mood disorders.

Johnson & Johnson (NYSE:JNJ) is a top recession stock simply due to the nature of its products. While spending for luxury goods will drop in an economic downturn, that for others such as medicines and diapers will not. Another testament to its strength is the fact that while during the 2008 financial crisis, the Standard and Poor market index dropped by 54%, Johnson & Johnson (NYSE:JNJ)’s shares fell by only 21% during the same time period.

Johnson & Johnson (NYSE:JNJ) also managed to grow both its net income and EPS during the financial crisis, cementing the fact that its products will continue to be in demand. The company pays a $1.13 dividend for a 2.72% yield. Insider Monkey’s Q2 2022 survey of 895 hedge funds outlined that 83 had held Johnson & Johnson (NYSE:JNJ)’s shares.

Out of these, Rajiv Jain’s GQG Partners is Johnson & Johnson (NYSE:JNJ)’s largest investor. It owns 6.5 million shares that are worth $1.1 billion.

Disclosure: None. You can also take a look at 10 Best Stocks to Buy According to Angela Aldrich’s Bayberry Capital Partners and 10 Best Italian Stocks To Buy Now.

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