Thanks to the recent market volatility, investors have been seeking safety for their portfolios. And that includes a hefty dose of consumer staples stocks. After all, their steady-eddy nature allows them to pay strong dividends and realize continued sales during nearly every market environment. And you can’t get much steadier than our latest pick for our Best Dividend Stocks List.
Our pick is one of the largest bakers in the country. All those loaves of bread, snack-cakes and other baked goods have translated into a steady diet of sales, cash flows and profits. Sales have continued to expand vigorously over the last year as the firm has focused on new organic and natural offerings. Several smart buyouts of smaller natural brands as well as tangential moves/additional product lines under its umbrella have worked wonders for its growth profile. And growth it has seen. Its top three brands have realized growth rates of 17%, 31% and 36%. That’s impressive for a fast-moving tech stock, let alone a company that produces bread.
Shares have the potential to “rise” as well.
As we return to work and school in the post-pandemic world, there’s plenty of pent up demand for bread and packable snack foods. This should help keep the cash flowing at our bakery pick and its streak of eight years’ worth of dividend increases alive.
In order to make room for our consumer staples pick and another defence pick, we had to take out a financial marketplace operator and material science pick from our list this week.
You can check out the Best Dividend Stocks Model Portfolio to explore all the stocks.
