Three Low-Risk Stocks Even Bears Love

The big story to watch here is how quickly and effectively Wrigley leverages its pricey acquisition of the Altoids mints and Life Savers candy brands from Kraft. A visit to the drugstore candy racks shows that, from a merchandising point of view, the merger appears to be going well. Altoids and Life Savers are showing up in new forms and flavors, such as sour-apple gum.

Wrigley is very focused on expanding its reach internationally -- particularly in China and India -- so investments in new plants and marketing are affecting margins. But I suspect Wrigley is set for a new leg of growth over the next year, which investors will reward by sending shares toward their high.

Hershey is another stock that revived from a multiyear low in March 2000. It went on to more than triple to an all-time high in early 2005. Hershey's slide since has been the result in part of a historic rise in the price of sugar and cocoa, but also just a shrug from investors who figured they could get more growth for less money in industrial metals, tech and energy. There's also been an overhang of concern that the Hershey family trust would not take the steps necessary to boost the share price, such as considering a merger or laying off workers.

Now that the broader market's tide has turned toward the prospects for moderately lower consumer spending, however, the prospects for Hershey have brightened, and the stock has a good shot at a 15% to 20% rally.

In short, even if you don't think that a bear is growling at the door, there are ample reasons to start stocking the larder with the shares of food and beverage makers. With their prices, expectations and valuations near historic lows, they could fatten up your portfolio by the end of the year.