Another typically boring part of the stock market is making exciting moves

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Stock Markets,Kroger Co,Constellation Brands Inc

While many investors have been distracted by the recent tech drop, a traditionally overlooked part of the market is seeing a major boom.

While many investors have been distracted by the recent drop in leading technology shares, a traditionally overlooked part of the market is seeing a major boom: consumer staples. The S & P 500 consumer staples sector hit a record on Monday, putting it more than 8% higher over the past three months. In the past month alone, the collection of supermarket chains and food ingredient makers has gained more than 5%, making it the third best-performing sector in the broad index.

Here's the criteria used: S & P 500 consumer staples sector member Consensus buy rating from analysts Upside to average price target of more than 10% Just three stocks made the cut: Kroger , Constellation Brands and Bunge Global . Kroger is expected to gain more than 12% going forward, based on analysts consensus price targets. Shares have popped more than 13% year to date. That puts the grocery store chain on track for its best year since 2021 — when it surged nearly 43%.

 

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