Clorox Company (The) (CLX)

The brands hold shelf space in the large chains and are bought by habit; a price rise of a few percent passes unnoticed. The pandemic produced an unprecedented surge in demand for disinfectants, after which several years were spent working through excess capacity and inventory.

One episode revealed a new vulnerability: a cyberattack halted ordering and shipping systems for weeks, shelves emptied, and shoppers tried a competitor in the meantime. Recovering share after that takes years. Risks: retailer own labels, raw material and packaging resin prices. The dividend has been raised for decades in a row.