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Highlights
- Consumer stocks boast relatively stable growth despite economic downturns.
- Foley Wines to acquire Zebra Bendigo Flat Vineyard, based in Otago.
- Seeka’s Annual Stakeholders’ Meeting is scheduled for 26 October.
Broadly speaking, consumer stocks refer to those companies which produce consumer-oriented products such as food, beverages, hygiene products, pharmaceuticals, tobacco, and household goods.
Despite economic downturns, financial instability, natural calamities, etc., demand for consumer stocks never ceases to fade. In other words, they relatively have stable growth regardless of the state of the economy.
Amid the given backdrop, let us go through the five NZ-based consumer stocks worth considering for the rest of the year.
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Foley Wines Limited (NZX:FWL)
Foley Wines Limited is NZ’s leading wine producer. Lately, the Company has announced the signing of an agreement to acquire Central Otago-based Zebra Bendigo Flat Vineyard.
The settlement price has not been revealed and the transaction will be funded by the Bank of New Zealand.
On 12 October, Foley Wines gained by 1.89% at NZ$1.620, at the market close.
Related Read: Why these NZX consumer shares are worth following
My Food Bag Group Limited (NZX:MFB)
The country’s famous meal-kit provider is My Food Bag Group Limited. In its Annual Shareholders' Meeting, the Company authorised its directors to determine the remuneration of MFB’s auditor for the forthcoming year.
Shares of My Food Bag Group fell by 5.51% at NZ$1.200, on 12 October, at the closing bell.
Must Read: Is My Food Bag (NZX:MFB) same as HelloFresh?
Me Today Limited (NZX:MEE)
Me Today Limited is NZ’s leading health and wellness brand. In its recently held Annual Meeting in the last week of September, shareholders carried out a resolution wherein the Board was empowered to fix fees and expenses of BDO, as MEE’s auditor.
At the end of the market session, on 12 October, Me Today surged by 4.29% at NZ$0.073.
Related Read: Which 5 attractive NZX penny stocks ended in green?
Scales Corporation Limited (NZX:SCL)
Scales Corporation Limited is the country’s diversified agribusiness-based company. Last month, the Company appointed a new non-executive director, Sun Qiang.
As per SCL’s policies, Mr Qiang would seek retirement in the next ASM and would then be eligible for re-election.
Shares of Scales Corporation fell by 0.19% at NZ$5.240, on 12 October, at the market close.
Related Read: Which are 5 NZX stocks with the highest monthly returns?
Seeka Limited (NZX:SEK)
NZ’s premier produce company is Seeka Limited. Monday, the Company updated its stakeholders on holding an online Annual Stakeholders' Meeting on 26 October via a Zoom Webinar.
Can’t Miss Reading: Seeka (NZX:SEK) clears its first hurdle towards Orangewood amalgamation
A presentation on SEK’s interim performance and operational highlights would be shown in the said meeting.
At the closing bell, Seeka climbed by 0.20% at NZ$5.020, on 12 October.
Bottom Line
Consumer stocks generally outperform market turbulence, hence, investing in these stocks is mostly considered a safe resort.