These 4 retail stocks are prime beneficiaries from pantry loading by consumers worried about coronavirus, Stifel says

Savings at warehouse stores like Costco may not be worth it.Damian Dovarganes/AP

• With the coronavirus causing an increase in consumers loading their pantries and buying in bulk, analysts at Stifel think these four retail stocks will benefit from the trend.
• In a note published Monday, Stifel analysts released a consumer spending survey that found 55% of consumers reported they are purchasing more due to worries surrounding the coronavirus pandemic.
• Based on their survey, Stifel sees retailers Amazon, Costco, Wal-Mart, and Target benefiting from the increased pantry loading by consumers.
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Fifty-five percent of consumers are purchasing more essential items due to worries surrounding the coronavirus pandemic, according to a consumer spending survey conducted by Stifel and published in a note on Monday.

Analysts at Stifel found that consumer pantry loading, at-home eating trends, and digital e-commerce shopping continue to remain at elevated levels since stay-at-home orders swept across the US throughout late March and early April.

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The analysts expect these trends to remain elevated "for the forseeable future as restaurant re-opening are gradual, social distancing remains the norm, and consumer nervousness is ongoing."

This, in combination with the results from Stifel's proprietary consumer spending survey, led the analysts to point to retail giants Amazon, Costco, Wal-Mart, and Target as prime beneficiaries of the increased consumer spending on consumer staple items.

Here's Stifel take on the implications of the coronavirus pandemic on these four retailers.