If you found yourself indulging a bit more this summer, take solace that you’re in good company. Indeed, our collective spending spree has shone a spotlight on the best consumer stocks to buy, a category that, while having faced the bitter brunt of 2022’s bear market, has made a triumphant return this year.

The resurgence is largely driven by the optimism that the U.S. might gracefully sidestep a looming recession.

Smart investors recognize the wisdom in parking their funds in companies producing essential daily items.

Many big companies offer a varied product mix. These market leaders boast strong brand power, granting them pricing leverage.

So, if you’re eyeing undervalued consumer stocks to buy, now might be an opportune moment to make your move.

Nike (NKE)

Navigating the realm of athletic wear, one prominent brand that seems to have had it a bit rough is Nike (NYSE:NKE).

The iconic sneaker and athletic apparel maker missed earnings estimates for the first time in three years, grappling with leaner profit margins and stagnant inventories.

However, it’s not all somber with The Swoosh, as it defied expectations by reporting revenues of $12.8 billion, edging past the anticipated $12.6 billion.

Certainly, scooping up shares of this time-tested brand feels tempting right now, with its stock trading at a tangible discount compared to its historical trends.

While the negative air around the company stemming from ongoing controversies, remains palpable, let’s not gloss over its enticing dividend at a strong 1.3% yield and a ten-year growth streak.

Its dividend coverage ratio remains steady at 2.5%. This is one of those consumer stocks to buy whenever it’s down.

Starbucks (SBUX)

Tipranks Analysts Upside Estimate: 15% upside

In the bustling world of coffee, Starbucks (NASDAQ:SBUX) is not just another café stop; it’s arguably one of the best consumer stocks to buy in the space.

Following its most recent financial announcement, the company rebounded impressively in its Chinese market, even as North American sales revealed a slight cool-down. North American same-store sales rose 7%, a tad shy of the 8.4% forecast.

Yet, looking forward, Starbucks remains undaunted with robust revenue growth predictions of 10% to 12% growth in 2023. Truly, it is one of the best-undervalued consumer stocks at its current trading value when weighed against its historical markers.

Starbuck’s innovative digital initiatives should have investors salivating over its long-term prospects. Its embrace of AI through its Deep Brew technology promises to redefine customer engagement and fortify Starbucks’ stature as a digital frontrunner.

The brand’s global footprint is expanding with finesse, primarily in China, where revenues have rocketed by 51%, mirroring Starbucks’ prowess and adaptability.

Target (TGT)

Navigating through 2023, Target (NYSE:TGT) encountered a series of headwinds. With its assortment leaning heavily towards discretionary items instead of grocery essentials and waning demand, it led to a slowdown in sales and a daunting inventory pileup.

In stimulating sales, Target inevitably had to venture into the discount territory, thinning its margins.

However, Target has successfully whittled its excess inventory to address these hurdles. A glance at its first-quarter metrics reveals a promising 16% reduction in inventory compared to the previous year.

With current stock prices presenting a genuine bargain, investors have can capitalize on a potential rebound. Its enticing dividend remains as attractive as ever, with a 3.3% yield and 54 years of dividend growth. This is one of those consumer stocks to buy for long-term results.

Kroger (KR)

Tipranks Analysts Upside Estimate: 7% upside

Navigating the bustling aisles of the U.S. supermarket scene, Kroger (NYSE:KR) has carved a niche for itself.

It boasts a formidable line-up of private-label products that resonate with value-conscious consumers, a boon in these inflationary times. But that’s not all.

Kroger’s massive scale allows it to harness big data effectively and fine-tune pricing and promotional endeavors. On top of that, Kroger is at the forefront, integrating robotics and autonomous vehicles to trim down costs and setting new standards to boost efficiency in its sector.

Its EBITDA growth year-over-year is at a remarkable 6.1%, outpacing the sector average by 60.4%. It also offers a 2.4% dividend yield, boasting 15 consecutive years of payout growth, making it one of the dividend consumer stocks to buy now.

Coca-Cola (KO)

In the dynamic realm of beverages, Coca-Cola (NYSE:KO) continues to prove its mettle. The recent second-quarter results unveiled by the beverage behemoth offer a refreshing testament to this.

Blowing past expectations, Coca-Cola grew with an earnings-per-share of 78 cents, outshining the projected 72 cents. Similarly, sales for the quarter stood tall at $11.97 billion, edging past the anticipated $11.75 billion by seasoned analysts.

Coca-Cola is dialing up its forecast for 2023 projecting an earnings-per-share growth of 5% to 6%, raising the bar from the earlier 4% to 5% estimation.

On the revenue front, a spike from 7% to 8% was also adjusted to a zesty 8% to 9%. Coca-Cola’s robust pricing prowess has enabled it to navigate the inflationary headwinds effectively.

A sparkling 60-year track record of dividend growth and a tempting 3% yield makes it one of the irresistible consumer stocks to buy for long-term investors.

Unilever (UL)

Sprawling across the consumer staples landscape, Unilever (NYSE:UL) consistently stamps its mark.

This multinational behemoth, anchored in the United Kingdom, casts a wide net from personal care, claiming the lion’s share of its sales at 50%, to home care and a delectable range of packaged foods.

With an expansive footprint that spans the globe, amassing a staggering $60 billion yearly revenue, it hasn’t always been smooth sailing.

Before the pandemic’s onset, growth had stagnated. However, the firm astutely rolled out price hikes across key products, and with inflationary waves receding, it positions Unilever to enjoy stronger profit margins.

Couple this with a current valuation of under 19.8 times forward earnings and expected mid-single-digit growth, and the picture becomes vivid: a 3.5% dividend yield paints a promising canvas for shareholders.

Apple (AAPL)

Warren Buffet’s penchant for value is no secret, and Apple (NASDAQ:AAPL) unmistakably fits the bill. This tech titan, synonymous with the iPhone’s brilliance, has effortlessly ventured into diverse avenues, creating revenue streams that continue to generate billions for the company.

Apple’s portfolio doesn’t just end at pioneering gadgets; its offerings span an unparalleled ecosystem. Its closed-loop universe boasts of intricately crafted products that aren’t merely tools but experiences.

Apple’s fidelity isn’t whimsical; it’s built on the bedrock of unparalleled quality and unmatched user experience. Apple reaps the fruits of this loyalty, with consumers willingly paying top dollar for their offerings.

It sports a dividend yield of 0.5%, and the recent nod to shareholders was a quarterly dividend of 24 cents. And with a modest dividend payout ratio of 14.8%, its coffers are brimming to boost this in the ensuing years.

Since 2013, dividends have seen consistent upticks, with the last quarter witnessing a staggering $24 billion returned to its shareholder family.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines