Molson and Coors merged in February 2005 and added StarBev in 2012, and it serves markets including the United States, Canada, Eastern Europe and the United Kingdom and Ireland, with exposure to other markets through its Molson Coors International division. It acquired the remainder (58%) of the U.S. joint venture (MillerCoors) in mid-October 2016.
The Coors light brand remains a huge favorite with Generation X and baby boomers, who were all around when the light beer revolution started. The brand was a huge winner in the Bud Light marketing fiasco. The company is now working on opportunities to market a cannabis-infused product.
The dividend yield here is 2.49%. The $70 UBS price target is well above the consensus target of $66. Molson Coors Beverage stock closed trading at $65.84 on Friday.
PepsiCo
This top consumer staples company will be supplying the goods for summer picnics and outdoor holiday fun. PepsiCo Inc. (NYSE: PEP) operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay’s and Ruffles potato chips; Doritos, Tostitos and Santitas tortilla chips; and Cheetos cheese-flavored snacks, branded dips and Fritos corn chips.
The Quaker Foods North America segment provides Quaker oatmeal, grits, rice cakes, natural granola and oat squares, as well as Pearl Milling mixes and syrups, Quaker Chewy granola bars, Cap’n Crunch cereal, Life cereal and Rice-A-Roni side dishes.
Its North America Beverages segment offers beverage concentrates, fountain syrups and finished goods under the Pepsi, Gatorade, Mountain Dew, Diet Pepsi, Aquafina, Tropicana Pure Premium, Sierra Mist and Mug brands, as well as ready-to-drink tea and coffee, and juices.
Shareholders receive a 2.72% dividend. PepsiCo stock has a $210 price target at Morgan Stanley. The consensus target is $200.82, and shares closed most recently at $176.76.
These five All-American companies should have solid 4th of July sales and are poised to continue to be outstanding investments for the second half of 2023. With second-quarter earnings right around the corner, it may be smart to buy partial positions now and see how the results come in.
Originally published at 24/7 Wall St.
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