Popular NZX consumer stocks worth considering in January 2022

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Popular NZX consumer stocks worth considering in January 2022

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Highlights

  • NZ witnessed increased card spending by consumers in December 2021 owing to the easing down of restrictions and the festive season.
  • Fonterra Co-operative Group revises its 2021/22 milk collection forecasts.
  • An online ASM conducted by Marlborough Wine Estates Group.

As per the latest report of Stats NZ, New Zealand's card spending rose in December 2021 owing to the festive and year-end holiday season.

The total credit and debit card spending grew by 1.9%, i.e., NZ$157 million, in contrast to the preceding month of November 2021.

Apart from the Christmas period, the ease of lockdowns and restrictions also contributed to this rise in card spending.

Some businesses which contributed to an increase in card spending were salon and hairdressers' services. Also, the fuel industry provided the much-needed boost as many Kiwis crossed Auckland’s border with the easing down of restrictions.

That said, let us take a quick look at the three popular consumer stocks worth considering this month.

NZ consumer stocks- MFB, FCG, MWE

Source: © 2022 Kalkine Media® data source- Refinitiv

My Food Bag Group Limited (NZX:MFB)

My Food Bag Group Limited has revealed appointing new Chief Supply Chain Officer, Paul Kelly, who would take charge of his new position in March.

Paul has vast experience spanning over 28 years within the dairy sector.

Meanwhile, MFB’s supply chain team would be taken care of by Fred Britton until Paul's arrival.

At the time of writing on 20 January, My Food Bag Group was up by 2.70% at NZ$1.140.

Related Read: Which are 4 NZX consumer stocks to be explored this year?

Fonterra Co-operative Group Limited (NZX:FCG)

Fonterra Co-operative Group Limited a few days back revised its milk collection forecasts owing to challenging weather conditions across many regions of the country, which resulted in a decline in milk collections.

Hence, FCG, altered its forecasted NZ milk collections for 2021/22 to 1,500 million kgMS, from the earlier given opening forecast of 1,525 million kgMS, i.e., a decrease of 1.6%.

At the time of writing, on 20 January, Fonterra Co-operative Group, was flat at NZ$2.940.

Marlborough Wine Estates Group Limited (NZX:MWE)

Marlborough Wine Estates Group Limited had conducted its ASM virtually last month, wherein a resolution was passed for the re-election of its director, Min (James) Jia.

Interesting Read: Would these 3 NZX wine stocks make waves this year?

Another resolution was carried out to re-appoint BDO as MWE’s auditor and empower the director to determine its remuneration.

At the time of writing on 20 January, Marlborough Wine Estates Group was flat at NZ$0.230.

Bottom Line

Increased consumer spending over last month brought some respite to NZ businesses, which were significantly impacted by the pandemic and subsequent restrictions.

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