Top U.S. Stocks That Usually Defy Gravity During Economic Slowdowns
Investing.com | May 29, 2023 04:51
- The US economy's chances of entering a recession are on the rise
- While the economy may or may not enter a recession, investors would be wise to add recession-resistant stocks to their portfolios
- In this piece, we will discuss stocks that posted double-digit gains in the last 5 economic recessions
- Analog Devices (NASDAQ:ADI) +21.8%.
- Sherwin-Williams (NYSE:SHW) +20.1%
- General Mills (NYSE:GIS) +16.8%
- Hormel Foods (NYSE:HRL) +16,1%
- Johnson & Johnson (NYSE:JNJ) +15.8%
- Conagra Brands (NYSE:CAG) +15.6%
- Campbell Soup (NYSE:CPB) +13%
- W.W. Grainger Inc (NYSE:GWW) +11,7%
- Kellogg (NYSE:K) +11.4%
According to Factset, about 95% of the companies listed on S&P 500 have reported their results, and 78% of them have exceeded market expectations.
Profits are down 2.2% compared to the first quarter of last year, but this is much better than the 6.6% drop that was expected. Moreover, all 11 sectors performed better than expected, with Tech dominating.
This is good news, but we have to address the elephant in the room: a real InvestingPro models give it a potential target of $66.12.
You can see the dividend yield history here:
Source: InvestingPro
Technically speaking, it has tried to overcome its resistance at $50.35 several times, but without any success.
Other Stocks Doing Well During Recessions/h2
Here's a list of stocks that performed well during the past five recessions and their average yields. Check it out.
With InvestingPro , you can conveniently access comprehensive information and outlook on a company in one place, eliminating the need to gather data from multiple sources such as SEC filings, company websites, and market reports.
In addition to analyst targets, InvestingPro provides a single-page view of complete information, saving you time and effort.
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