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 company is now working on opportunities to market a cannabis-infused product.
Shareholders receive a 2.79% dividend. The $66 Jefferies price target is well above the $56.59 consensus target. Molson Coors Brewing stock closed trading on Thursday at $54.51.
PepsiCo
This is a top consumer staples stock that will be supplying the snacking goods for summer picnics, especially on the Fourth of July. 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 the recently name-changed Aunt Jemima mixes and syrups, and 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 2.80% dividend. The BofA Securities price target on PepsiCo stock is $190. The consensus target is $183.20, and shares closed at $166.66 on Thursday.
These five All-American companies should have solid Fourth of July sales and are poised to continue to be solid investments for the second half of 2022. With second-quarter earnings right around the corner, it may be smart to buy partial positions now, and see how the results come in. However, given the very defensive posture of these blue-chip leaders, all should be outstanding stocks to own going forward if we slip into a recession, which seems highly likely now.
Originally posted at 24/7 Wall St.
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