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Consumer Sector Update for 10/25/2018: HSY,TSCO,TSLA,BUD


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Top Consumer Stocks

WMT +1.47%

MCD -1.35%

DIS +2.28%

CVS +1.00%

KO -0.48%

Consumer stocks were broadly higher today, with shares of consumer staples companies in the S&P 500 rising less than 0.2% this afternoon while shares of consumer discretionary firms in the S&P 500 were nearly 3.1%.

Among consumer stocks moving on news:

(-) Hershey ( HSY ) still was over 4% lower in late Thursday trading, nearly halving a more than 8% decline earlier in today's session that followed the chocolate company reporting sub-par Q3 sales. Net sales for the three months ended Sept. 30 totaled $2.08 billion, up 2.5% over the year-ago period but narrowly trailing the Capital IQ consensus expecting $2.09 billion in quarterly sales. Excluding one-time items, it earned $1.55 per share, matching the Street view.

In other sector news:

(+) Tractor Supply ( TSCO ) climbed as much as 9% on Thursday after reporting Q3 net income of $0.95 per share on $1.88 billion in sales, beating the Capital IQ consensus by $0.08 per share and $50 million, respectively. It also raised its FY18 outlook to a new range expecting between a $4.23 to $4.27 per share profit on $7.84 billion to $7.87 billion in sales, also topping Street views by at least $0.02 per share and $40 million, respectively.

(+) Tesla ( TSLA ) put up large gains on Thursday, rolling as much as 11% higher after the electric vehicle manufacturer posted its third quarterly profit ever and beating the analysts' Q3 consensus on both its top and bottom lines, bolstered by rising demand for its Model 3 automobile. Following the better-than-expected financial results, analysts at Wolfe Research raised its investment rating for Tesla stock to Outperform from Peer Perform and also increased its price target by $115 to $410 a share. RBC Capital Management also nudged its price target for Tesla $10 higher to $325 a share and reiterated its Sector Perform stock rating.

(-) Anheuser-Busch InBev ( BUD ) Thursday fell to its lowest price since June 2012, dropping over 11% to $72.88 per American despository share, after saying its normalized Q3 net income slipped to $0.82 per ADS from $1.31 per ADS last year and trailing the Capital IQ consensus by $0.33 per ADS. Net sales declined 9.9% year-over-year to $13.28 billion, also lagging the $14.01 billion Street view. Halves interim dividend from its most recent distribution to EUR0.80, or $0.91, per ADS.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Business , Commodities
Referenced Symbols: HSY , TSCO , TSLA , BUD



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