The market has been beating down consumer staple stocks lately, which shouldn’t exactly be a surprise to my fellow dividend growth investors. Lanny detailed this trend last month in his infamous “Battle of the Consumer Staple Stocks,“ ultimately showing how some of the best consumer staple stocks are trading at a nice discount. The trend has still continued to this day, which is great because I love consumer staple stocks. This was probably evidenced by the fact that I purchased P&G twice in April! I’m back on the lookout for another purchase as I have some capital to deploy. With the introduction I have written, it shouldn’t be a surprise, but my watch list is going to be heavily focused in consumer staples sector. Let’s check out the four companies on my May Dividend Stock Watch List.
It didn’t take too much arm twisting by Lanny to convince me to add to my stake in Procter & Gamble (PG) this week, especially after he took the first step, backed up his talk, and purchased 10.1 additional shares of the company earlier in the month. I have no shame in admitting that I followed his lead and purchased shares in the company because let’s be honest, it is a great company! Time to summarize my purchase of PG this week.