Top 5 Consumer Defensive Stocks to Buy Now

3. Philip Morris International Inc. (NYSE:PM)

Stock Upside Potential: 22.94%

Number of Hedge Fund Holders: 82

Philip Morris International Inc. (NYSE:PM) is one of the top consumer defensive stocks to buy now. On March 17, Philip Morris International Inc. (NYSE:PM) announced plans to invest $50 million to establish a business solutions center in Tampa, Florida.

The investment underscores a pivotal expansion of US operations as the company also seeks to consolidate key functions and business solutions. The facility is also expected to bolster the company’s distribution operations and customer service. Philip Morris International is also exploring ways to enhance operational efficiency across key functions.

The $50 million investment also underscores Philip Morris International’s commitment to supporting the Florida business community by creating 180 direct and indirect high-skilled jobs. It has committed $600 million to a ZYN nicotine pouch manufacturing facility in Aurora, and it also plans a $232 million expansion of its ZYN production site in Kentucky.

Since 2022, the company has invested more than $1 billion in American manufacturing operational capabilities and people costs.

Philip Morris International Inc. (NYSE:PM) is a leading international consumer goods company transitioning from traditional cigarettes to smoke-free nicotine products. It’s also investing in “heat-not-burn” technology (IQOS), e-vapor (VEEV), and nicotine pouches (ZYN), aiming to generate over two-thirds of revenue from smoke-free products by 2030.