4 Consumer Discretionary Stocks To Watch Before May 2021
For most investors now, consumer discretionary stocks could be the top stocks to watch in the stock market today. This would be the case as some of the top consumer discretionary stocks are set to report earnings this week. Specifically, major companies such as Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) would be on investors’ radars right now. After all, consumer-focused businesses are likely to report earnings from a quarter where consumers received stimulus checks. It would then make sense that investors are looking to bet on possibly impressive figures boosting consumer discretionary stocks further.
While all this is great for the sector now, some may be wondering if this momentum can continue moving forward. If anything, there are plenty of options for investors when it comes to consumer discretionary stocks. For example, cannabis stocks like Canopy Growth (NASDAQ: CGC) would be a viable play for investors now given the current regulatory tailwinds for the sector. With recreational marijuana being more widely available, I could see consumer spending increase in this area as well. Elsewhere conventional retail companies like Nike (NYSE: NKE) are also in focus as brick-and-mortar operations see more consumer foot traffic.
Overall, as the economy reopens top consumer discretionary stocks appear positioned to benefit as well. With all these factors in play now, you might be interested to invest in the sector yourself. Should that be the case, here are four top consumer discretionary stocks making moves on the stock market now.Best Consumer Stocks To Buy [Or Sell] Today
- Carnival Corporation (NYSE: CCL)
- Coca-Cola Company (NYSE: KO)
- Lyft Inc. (NASDAQ: LYFT)
- Hasbro Inc. (NASDAQ: HAS)
Carnival Corporation is a consumer stock that has garnered a lot of attention recently. It is the world’s largest leisure travel company. In essence, it provides travelers around the globe with extraordinary vacations at an exceptional value. Its portfolio of global cruise lines spans a fleet of 87 ships visiting over 700 ports around the world. Impressively, it still plans to add 16 new ships all through 2025. CCL stock currently trades at $27.71 as of 2:45 p.m. ET and has been up by over 30% year-to-date.Source: TD Ameritrade TOS
Given how the world is poised for recovery by the end of the year, could Carnival be worth betting on right now as it makes its reopening plays? For instance, its luxury cruise line Cunard had announced its 2022 line-up of event voyages last week. Given how there is pent-up demand for cruising, Carnival could stand to benefit from this. Earlier this month, the company said that its booking volumes are accelerating. During the first quarter of 2021, it was approximately 90% higher than volumes during the previous quarter. Given all of this, will you consider buying CCL stock?Coca-Cola Company
Coca-Cola is a multinational beverage corporation that operates a franchised distribution system. Its products are sold in more than 200 countries and territories. Also, the company’s portfolio of brands includes Coca-Cola, Sprite, Dasani, and Minute Maid among others. Coca-Cola is also a dividend company that paid $7 billion to shareowners in 2020 alone. KO stock currently trades at $53.62 as of 2:45 p.m. ET.Source: TD Ameritrade TOS
Last week, the company reported its first-quarter financials for 2021. Firstly, its net revenue grew by 5% year-over-year to $9 billion. Secondly, it posted an earnings per share of $0.52. Coca-Cola also ended the quarter with $1.4 billion in cash. The company also provided a business update. In it, it cited that volume trends are steadily improving each month throughout the quarter. This would be driven by a recovery in markets where coronavirus-related uncertainty has abated. March volume for instance has already reached 2019 levels. With signs of improvement already beginning to surface, will you add KO stock into your portfolio?
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Lyft is a consumer discretionary stock that is also one of the largest transportation networks in the U.S. and Canada. In brief, its transportation network brings together rideshare, bikes, scooters, car rentals, and transit into one app. Its nearby transit offering integrates third-party public transit data into the Lyft app to offer riders a robust view of transportation options. LYFT stock currently trades at $62.78 as of 2:46 p.m. ET and has been up by over 35% since February.Source: TD Ameritrade TOS
The company today announced that it has signed an agreement with Woven Planet Holdings, a subsidiary of Toyota Motor Corporation. The agreement will be for the acquisition of Lyft’s self-driving vehicle division, Level 5. The transaction will also include a multi-year non-exclusive commercial agreement between Lyft and Woven Planet to accelerate the development and enhance the safety of automated driving technology. Given this exciting development, will you consider buying LYFT stock?Hasbro Inc.
Following that, we have global play and entertainment company, Hasbro. Undoubtedly, the company is a household brand thanks to its massive entertainment portfolio. The likes of which boast 1,500 signature brands including Nerf, Transformers, Monopoly, and Power Rangers, to name a few. Moreover, Hasbro remains the master toy licensee of Disney’s (NYSE: DIS) Star Wars and Marvel brands. Given the popularity of the Disney Plus streaming service now, Hasbro has plenty of relevant products to offer consumers now. Impressive offerings aside, HAS stock could be in focus this week on account of the company’s latest earnings release.Source: TD Ameritrade TOS
In it, Hasbro saw its revenue grow by 14% year-over-year, raking in a total of $1.11 billion for the quarter. According to the company, growth in its Consumer Products segment is to thank for the company’s performance on this front. On top of that, Hasbro also ended the quarter in a strong cash position of $1.43 billion. Overall, CEO Brian Goldner cites the global Hasbro teams’ strong execution as a driving force for the company this quarter. According to Goldner, the company is targeting “full-year double-digit revenue growth” in fiscal 2021. Time will tell if this holds true. In the meantime, would you consider HAS stock a buy?