This grocery chain giant is always a solid idea when the going gets rough as people tend to eat out less. Kroger Co. (NYSE: KR) operates as a retailer in the United States. It operates combination food and drug stores, multi-department stores, marketplace stores and price impact warehouses.
Its food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood and organic produce. Its multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products and toys.
The company’s marketplace stores offer full-service grocery, pharmacy, health and beauty care, and perishable goods, as well as general merchandise, including apparel, home goods, and toys. The price impact warehouse stores provide grocery and health and beauty care items, as well as meat, dairy, baked goods and fresh produce items.
Kroger also manufactures and processes food products for sale in its supermarkets and online, and it sells fuel through 1,613 fuel centers. As of January 29, 2022, the company operated 2,726 supermarkets under various banner names in 35 states and the District of Columbia.
Kroger stock investors receive a 2.24% dividend. The BofA Securities target price of $75 is well above the $53.95 consensus target and Thursday’s close at $47.46.
Procter & Gamble
The company offers a very solid dividend as well as a host of recognizable products. Procter & Gamble Co. (NYSE: PG) is one of the world’s largest consumer products companies and one of the oldest in the Fortune 500. Its many brands include Pampers, Tide, Bounty, Charmin, Gillette, Oral B, Crest, Olay, Pantene, Head & Shoulders, Ariel, Gain, Always, Tampax, Downy and Dawn.
The company sells its products through mass merchandisers, e-commerce, grocery stores, membership club stores, drug stores, department stores, distributors, wholesalers, baby stores, specialty beauty stores, high-frequency stores and pharmacies. The company has been very innovative in its product development process and uses that to help ensure future growth and cash flow. This should provide investors with years of steady growth and dividends.
Investors receive a 2.45% dividend. Raymond James has set its price objective at $165, and the consensus target is $148.60. Procter & Gamble stock ended Thursday trading at $151.32.
Seven top Warren Buffett holdings for investors looking for yield and a modicum of growth that while not invincible, will surely hold up better the rest of 2022 and into next year than technology and some other more volatile sectors.
The stock market has some big downside potential from where we are now, and playing it safe just makes sense until the Federal Reserve is done raising interest rates, which may not be until the first quarter of 2023.
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