Consumer Non-Durable Goods: Top 5 Stocks of July

The Top 5 list of securities that demonstrated the most prominent growth in the first half of July includes stocks from the consumer non-durable goods sector, such as Beyond Meat Inc., Celsius Holdings Inc., Dutch Bros Inc., Crocs Inc., and Olaplex Holdings Inc.

Selection criteria

• The sector – Consumer non-durable goods
• The companies are not funds
• The stocks are traded on the NYSE and NASDAQ
• Their share price is above $2
• Their capitalisation is over $2 billion
• Their average trading volume over the last 30 days is more than 750,000 shares

Growth is expressed in percentage as the difference between the closing prices on 30 June and on 15 July 2022. The market capitalisation of each company is relevant to the time when the article was being prepared.

1. Beyond Meat – 42.1%

Founded in: 2009

Registered in: US

Headquarters: El Segundo, California

Exchange: NASDAQ

Market capitalisation: $2.2 billion

Beyond Meat is one of the world’s largest producers of plant-based meat substitutes. The company sells its products in North America, Europe, and Asia.

In the first two weeks of July, Beyond Meat Inc. (NASDAQ:BYND) stock gained 42.1%, from $23.94 to $34.01 per share. This growth might be attributed to Beyond Meat’s announcement that the company intended to release a plant-based steak product.

According to Beyond Meat CEO Ethan Brown, the new product will mimic whole-muscle meat cuts. We remind you that the other products of the company mimic minced and ground meat.

In addition, the factor that had a positive influence on the stock was the data on the retail sales increase in the US in June, which was released by the United States Department of Commerce. At a time of crisis due to inflation, this is good news for client-oriented companies, as there is a chance that the country’s population might be spending more again.

2. Celsius Holdings — 23.9%

Founded in: 2004
Registered in: US
Headquarters: Boca Raton, Florida
Exchange: NASDAQ
Market capitalisation: $6.1 billion

Celsius Holdings, the company that was called Vector Ventures prior to 2007, specialises in producing and marketing sparkling and non-carbonated beverages, and liquid nutritional supplements.

In the first half of July, the shares of Celsius Holdings Inc. (NASDAQ:CELH) added 23.9%, from $65.26 to $80.87. Eight out of 10 trading sessions over this period ended with an upward movement.

Experts say that the company has not had any interesting news in the last two weeks; that’s why they assume that the stock climbed amid speculation.

Rumour has it that PepsiCo is looking into buying Celsius Holdings. However, none of this has been confirmed officially.

3. Dutch Bros — 19.8%

Founded in: 1992
Registered in: US
Headquarters: Grants Pass, Oregon
Exchange: NYSE
Market capitalisation: $6.2 billion

Dutch Bros owns a large chain that sells hot and cold drinks and a selection of baked goods. In addition, the company began franchising in 1999. At the time of writing, there were 538 franchise locations in the US.

The first half of July saw the shares of Dutch Bros Inc. (NYSE:BROS) gaining 19.8%, from $31.65 to $37.91. Despite current economic conditions that can hardly be called favourable, the company is not giving up on its plans to expand its business in the US.

In the next 15 years, Dutch Bros will be opening up to 4,000 new coffee shops. Apparently, this ambitious plan is the foundation of such a significant growth of the stock.

4. Crocs — 11.2%

Founded in: 1999
Registered in: US
Headquarters: Broomfield, Colorado
Exchange: NASDAQ
Market capitalisation: $3.3 billion

Crocs produces and sells casual footwear for men, women, and children. The company’s products are officially distributed in 85 countries. In the first two weeks of this month, Crocs Inc. (NASDAQ:CROX) climbed 11.2%, from $48.67 to $54.14 per share

Perhaps, the growth in the company’s securities can be explained by the news that early in the month, Loop Capital analyst Laura Champine upgraded Crocs from a Hold rating to a Buy and announced a $75 price target.

The expert mentioned several macroeconomic difficulties for Crocs, such as a decline in consumer confidence, the USD strengthening, and increasing company expenditure. On the other hand, she pointed to some positive aspects; for example, attractiveness for investors, mid/long-term business growth potential, and brand awareness.

5. Olaplex Holdings — 10.1%

Founded in: 2014
Registered in: US
Headquarters: Santa Barbara, California
Exchange: NASDAQ
Market capitalisation: $10.1 billion

Olaplex Holdings specialises in producing and selling hair care products. The company is oriented towards both professional licensed hairdressers and average consumers. Its catalogue offers a wide choice of shampoos and conditioners.

In the first half of July, the shares of Olaplex Holdings Inc. (NASDAQ:OLPX) rose 10.2%, from $14.09 to $15.52. Experts cannot name any specific reasons for this growth. The most striking daily increase over this period was from 13 to 15 July, 6.62% and 5.01% respectively.

What influenced this sector’s growth in July?

In the first half of July, the securities that demonstrated the most prominent growth in the consumer non-durable goods sector include such companies as Beyond Meat Inc., Celsius Holdings Inc., Dutch Bros Inc., Crocs Inc., and Olaplex Holdings Inc.

It’s rather difficult to name one specific reason why these stocks rallied. The growth is probably a consequence of the report on the increase in retail sales in the US in June, which was released by the United States Department of Commerce.

In addition, analysts believe that each of these Top 5 companies had some individual factors that contributed to the positive influence on their shares.

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