Best Consumer Goods Stocks To Buy In May

S&P 500 continues under intense pressure and is testing the 4000 level, so traders continue to seek out safe-haven assets that could shield them from the overall market sell-off. Consumer staples stocks have outperformed the market in 2022, and it appears that demand for these stocks will continue stable.

Walmart 

Walmart has just retreated from its all-time highs, which is not surprising considering the overall market performance.

Analysts anticipate that Walmart will generate profits per share of $6.77 in the current fiscal year and $7.27 in the following fiscal year; therefore, the stock is trading at approximately 21 forward P/E.

This is not excessively inexpensive, but corporations like Walmart have a favorable position in an inflationary economy. Unsurprisingly, investor demand for the company's shares remained high in 2022, and despite a general market slump, Walmart stock is up about 5 percent year-to-date.

Kellogg

After the release of the company's quarterly report, Kellogg stock has recently received considerable upward momentum and reached new highs.

Kellogg reported revenue of $3.67 billion and adjusted earnings per share of $1.10, exceeding consensus projections for both earnings and revenue. Traders focused on the company's capacity to address supply chain issues and inflationary pressures.

Following the report's release, analyst projections increased. The current forward price-to-earnings ratio of the stock is 18. When traders are willing to purchase shares of consumer staples companies that can withstand inflationary pressures, these valuation levels appear sensible.