With the stock market slump since the start of August, investors have new opportunities to buy several leading blue-chip stocks at bargain prices. Many well-known companies and household names had share prices fall 10% or more since mid-summer, when all three major U.S. indices declined on renewed worries of sticky inflation, elevated interest rates, and geopolitical instability.

While the declines have been concerning, it’s also an opportunity for investors to buy quality stocks at distressed prices and ride them to solid gains when the market rebounds. There are signs that the market may have bottomed Oct. 3 and is trending higher once again, with the benchmark S&P 500 currently on a four-day win streak. Here are seven blue-chip stocks to snatch up.

PepsiCo (PEP)

PepsiCo (NASDAQ:PEP) just kicked off third-quarter earnings season with its latest print with strong results. As it typically does, Pepsi beat Wall Street forecasts on both the top and bottom lines and raised its forward guidance. The maker of Pepsi and Mountain Dew soft drinks announced Q3 earnings per share (EPS) of $2.24 and revenue of $23.45 billion. Analysts had expected a profit of $2.15 a share on revenue of $23.41 billion.

PepsiCo highlighted its Gatorade sports drink’s double-digit revenue growth in Q3, while its Quaker Foods division gained market share in key categories such as pancake mix and syrup. Looking forward, the company, which also makes Lay’s potato chips and Rold Gold pretzels, said it now expects its annual EPS to rise 13%, up from previous guidance of 12% growth. The company reiterated previous guidance for a 10% increase in its full-year revenue.

While PEP stock moved 2% higher following the solid Q3 print, the company’s share price has fallen 10% in recent weeks on concerns that a new class of weight loss drugs will dent Pepsi’s future sales. Consequently, investors can now buy PepsiCo stock at its lowest level in a year.

Constellation Brands (STZ)

Another company that reported strong financial results is Constellation Brands (NYSE:STZ). The company reported better-than-expected fiscal second-quarter numbers due to strong sales of its Modelo beer brand. In all, the company’s beer sales rose 12% from a year earlier. Modelo has become the top-selling beer in the U.S., taking the lead from Anheuser-Busch InBev’s (NYSE:BUD). Some consumers have boycotted Bud Light in response to an advertising campaign that featured a transgender social media influencer.

Fueled by its beer sales, Constellation Brands reported EPS of $3.70 on revenue of $2.84 billion. Wall Street had forecast the company, which also makes Corona beer, to report earnings of $3.37 per share on revenue of $2.82 billion. Looking ahead, Constellation Brands raised its earnings outlook for its full fiscal 2024 year, saying it expects a profit of between $12 and $12.20 a share. Analysts polled by FactSet had been telegraphing full-year earnings of $11.72 per share.

Despite the strong print, shares of STZ stock fell 3% after the alcohol beverage maker’s results showed that sales of its wines and spirits declined 14% year-over-year. Constellation Brands’ stock has now gained 4% this year and looks attractively valued at current levels.

McDonald’s (MCD)

Shares of McDonald’s (NYSE:MCD) have also fallen 10% over the past month on concerns that weight loss drugs will lead consumers to eat fewer cheeseburgers and fries. MCD stock is now down 4% on the year. Investors should view the pullback as a buying opportunity. After all, the Golden Arches remains the world’s top-selling quick-service restaurant chain with a 43.8% global market share. Over the long term, MCD stock has proven to be a solid investment, having gained 55% over five years and 170% in the past decade.

McDonald’s announced it is increasing its dividend payment to shareholders by 10% on Dec. 15. McDonald’s will pay a dividend of $1.67 per share each quarter, giving it a yield of 2.64%. While some analysts have raised concerns about the potential impact of weight loss medications on McDonald’s future sales, there are no immediate signs of trouble. McDonald’s last earnings print was rock solid and expectations are for more of the same when the company reports its next results Oct. 30. Buy the dip in this blue-chip stock.

Walt Disney (DIS)

The stock of Walt Disney (NYSE:DIS) is rising on media reports that activist investor Nelson Peltz has increased his holding of DIS stock and is again pushing for seats on the entertainment company’s board of directors. Peltz’s Trian Fund Management has increased its stake in Disney to more than $2.5 billion and is demanding multiple board seats. Peltz first targeted Disney in January of this year, making a sizable investment in the company and requesting a seat on the board.

However, Peltz’s previous activist campaign ended after Disney CEO Bob Iger outlined a $5.5 billion cost-cutting plan and announced 7,000 layoffs company-wide. But, with DIS stock continuing to perform poorly, Peltz is again taking a run at management and trying to push his way onto the board of directors. Peltz has said publicly that Disney’s stock is undervalued and needs a more focused board. The activist investor now owns more than 30 million shares of DIS stock.

Investors seem to like that Peltz is back in the picture, judging by the stock’s gain of 4% since news broke of his renewed push to get on the company’s board. Disney’s share price is down 11% over the last 12 months and has declined 25% over five years. The stock is currently trading at the same level it was 10 years ago.

Levi Strauss (LEVI)

Levi Strauss’ (NYSE:LEVI) Q3 earnings also beat Wall Street forecasts, but the stock pulled back 3% after the company, best known for its blue jeans, lowered its forward guidance. Levi’s reported EPS of 28 cents, which was slightly above consensus forecasts of 27 cents per share. Revenue in Q3 came in at $1.51 billion, which was just below expectations for $1.54 billion, according to data from FactSet. While the latest numbers were good, LEVI stock fell after the company lowered its revenue growth forecast for the remainder of this year.

Levi’s said it now expects revenue to either be flat or to grow by only 1%, which is below previous forecasts for growth of 1.5% to 2.5% and less than the 1.5% growth that analysts had penciled in for the company. It was the second consecutive quarter in which Levi’s lowered its forecast. However, there’s reason to remain bullish on Levi Strauss. Importantly, the company is pivoting away from its traditional wholesale-focused sales strategy in favor of a direct-to-consumer model that’s been successful at other retailers such as Nike (NYSE:NKE).

LEVI stock has declined 13% this year and currently trades at just 19 times forward earnings. The company also pays its shareholders a quarterly dividend of 12 cents per share, giving it a healthy yield of 3.57%.

Exxon Mobil (XOM)

Two reasons to consider a position in oil major Exxon Mobil (NYSE:XOM). First, the company has launched a $60 billion takeover bid for shale driller Pioneer Natural Resources (NYSE:PXD). The deal would be Exxon’s biggest purchase since its merger with Mobil in 1999, and will make Exxon Mobil the dominant player in the oil fields of Texas and New Mexico. Pioneer currently owns some of the largest untapped oil fields in America.

A takeover of Pioneer Natural Resources also demonstrates that Exxon Mobil is still focused on fossil fuels, even though it has also gotten into lithium battery development. The deal to buy Pioneer comes after elevated crude oil prices in 2022 led to record profits and left Exxon Mobil flush with cash. This brings us to the second reason to consider XOM stock right now, rising crude prices. With war breaking out in the Middle East, the price of oil is again above $85 per barrel, which should boost future profits.

XOM stock has gained 12% over the last year. It also pays a quarterly dividend of 91 cents per share, for a yield of 3.28%.

Dell Technologies (DELL)

Dell Technologies (NYSE:DELL) held an analyst day to outline all of the ways it plans to reward its loyal stockholders. Impressively, the company pledged to increase its dividend payment by 10% a year between now and 2028. Dell now expects to return at least 80% of its free cash flow to shareholders in the form of stock buybacks and dividends, up from a previous commitment to return 50% to 60% of free cash flow.

Dell currently pays a quarterly dividend of 37 cents per share, giving it a yield of 2.23%, which is strong for a technology concern. Beyond the dividend, Dell announced that it is increasing its stock buyback program by $5 billion, effective immediately. Management also repeated a previous forecast to grow revenue in a range of 3% to 4% this year and raised its forecast for long-term profit growth to 8%, up from 6% previously. Executives also said they see AI software as a big catalyst for the company’s personal computer business.

While DELL stock has had a big run, having risen 67% year to date, analysts see more upside ahead. Investment bank Morgan Stanley maintains a price target of $89 per share on the stock, implying a 30% increase from current levels.