According to Wells Fargo, sell-offs will cause a $6 trillion decline in household assets in the second quarter of 2022. According to data from the central bank, about 24.3 percent of US household assets were in stocks at the end of 2021, according to Wells Fargo. A list of 55 stocks that Wells Fargo believes can withstand a recession was just revealed. In the list, companies like Verizon Communications Inc., PepsiCo, Inc., and International Business Machines Corporation were prominently mentioned.
Insider Monkey compiled the list of the 10 best recession stocks to buy according to Wells Fargo. Since going public in October 1994, Realty Income Corporation has continuously paid 624 monthly dividends to its shareholders. Revenue for the company was $807.34 million, up 93.29 percent from the previous year, and it beat Wall Street expectations by $58.66 million. The forward dividend yield for DTE Energy Company is 3.06 percent, and over the past year, the stock has increased by 3.71 percent. The company’s quarterly revenue increased by 21.15 percent year over year to $4.58 billion. The forward dividend yield for DTE Energy Company is 3.06 percent, and over the past year, the stock has increased by 3.71 percent. The company’s quarterly revenue increased by 21.15 percent year over year to $4.58 billion. One of Wells Fargo’s recommended consumer essentials for a recession is Colgate-Palmolive Company. For the previous 21 years, the company has increased its payouts, with a 5-year dividend CAGR of 3.00 percent. Chevron Corporation has a forward PE ratio of 8.69 and a 3.83 percent dividend yield as of June 22. The business has increased its dividends over the last six years, with a 5.07 percent 5-year dividend CAGR. For more details, click 10 Best Recession Stocks To Buy According To Wells Fargo.
