5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday

GuruFocus.com

- By Sydnee Gatewood

As the Kansas City Chiefs prepare to face off against the Tampa Bay Buccaneers on Sunday, investors may be looking to companies that benefit from the biggest professional football game of the year.

According to the National Retail Federation, 186.6 million consumers across the U.S. will spend an average of $74.55 each as they tune in to cheer on their favorite team during Super Bowl LV, down slightly from $89 last year. According to the annual survey, a majority of the$13.9 billion total will be spent on food and drinks for watch parties, followed distantly by team apparel and accessories, televisions, decorations and furniture.


Using the GuruFocus Fair Value Line, a new unique method of estimating the intrinsic value of a stock, investors can find potential value opportunities. Based on the popular Peter Lynch value line, which compares a stock's current price to how much its earnings per share would be worth if it traded at a price-earnings ratio of 15, the GF Value Line takes more than price into account when determining value. It also considers a company's historical price-earnings, price-book, price-sales and price-to-free cash flow ratios, an adjustment factor based on past returns and growth as well as future estimates of the business' performance.

Using the GF Value Line for JM Smucker Co. (NYSE:SJM) as an example, we can see that the stock is considered to be fairly valued. The share price is represented by the blue line, while the solid black line shows the past intrinsic values calculated by the GF Value Line. The dotted portion of the black line illustrates the estimates of future intrinsic value. The red and green bands delineate overvaluation and undervaluation, respectively, with the darker shades indicating more severe deviations from the intrinsic valuation.

5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday
5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday

As of Feb. 5, the GuruFocus All-in-One Screener, a Premium feature, found consumer defensive stocks in the S&P 500 that are fairly valued based on the GF Value Line, have a predictability rating of at least one out of five stars and a price-to-GF Value ratio between 1 and 2 included Coca-Cola Co. (NYSE:KO), PepsiCo Inc. (NASDAQ:PEP), Constellations Brands Inc. (NYSE:STZ), McCormick & Co. Inc. (NYSE:MKC) and Mondelez International Inc. (NASDAQ:MDLZ).

Coca-Cola

Coca-Cola (NYSE:KO) has a $213.54 billion market cap; its shares were trading around $49.74 on Friday with a price-earnings ratio of 25.9, a price-book ratio of 11.48 and a price-sales ratio of 6.41.

The Atlanta-based company is famous for its most well-known soft drink, Coca-Cola, as well as a variety of other nonalcoholic beverages like Sprite, Fanta, Vitamin Water and Fuze Tea.

Based on a GF Value of $46.01 and a price-to-GF Value ratio of 1.08, the stock appears to be fairly valued.

5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday
5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday

The GuruFocus valuation rank of 2 out of 10, however, leans more toward overvaluation.

GuruFocus rated Coca-Cola's financial strength 4 out of 10. Though the company has issued approximately $2.7 billion in new long-term debt over the past three years, it is still at a manageable level due to sufficient interest coverage. The company also has a high Altman Z-Score of 3.37, indicating it is in good standing despite recording a decline in revenue per share over the past five years.

The company's profitability fared better, scoring a 7 out of 10 rating on the back of an expanding operating margin and strong returns that outperform a majority of competitors. Coca-Cola also has a moderate Piotroski F-Score of 6, which suggests business conditions are stable, as well as a one-star predictability rank. According to GuruFocus, companies with this rank return, on average, 1.1% annually over a 10-year period.

Of the gurus invested in Coca-Cola, Warren Buffett (Trades, Portfolio) has the largest stake with 9.31% of outstanding shares. Jeremy Grantham (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Yacktman Asset Management (Trades, Portfolio), Ray Dalio (Trades, Portfolio), the T Rowe Price Equity Income Fund (Trades, Portfolio), Steven Cohen (Trades, Portfolio) and the MS Global Franchise Fund (Trades, Portfolio) also have sizable positions in the stock.

PepsiCo

PepsiCo (NASDAQ:PEP) has a market cap of $195.37 billion; its shares were trading around $141.75 on Friday with a price-earnings ratio of 27.98, a price-book ratio of 14.49 and a price-sales ratio of 2.88.

Headquartered in Purchase, New York, PepsiCo, which is known for its namesake soda Pepsi, also manufactures popular chips like Doritos and other snacks like Sabra's hummus.

With a GF Value of $135.48 and a price-to-GF Value ratio of 1.05, the stock appears to be fairly valued.

5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday
5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday

The GuruFocus valuation rank of 2 out of 10, however, is more indicative of overvaluation.

PepsiCo's financial strength was rated 4 out of 10 by GuruFocus. Although the company has issued approximately $5 billion in new long-term debt over the past three years, it is at an acceptable level due to sufficient interest coverage. The Altman Z-Score of 3.52 also indicates the company is in good standing.

The company's profitability scored a 7 out of 10 rating, driven by an expanding operating margin, returns that outperform a majority of industry peers, moderate Piotroski F-Score of 5 and consistent earnings and revenue growth. PepsiCo also has a three-star predictability rank. GuruFocus says companies with this rank return an average of 8.2% annually.

With 0.45% of outstanding shares, Pioneer is PepsiCo's largest guru shareholder. Other top guru investors include Dalio, Diamond Hill Capital (Trades, Portfolio), David Carlson (Trades, Portfolio), Cohen, both Yacktman funds and Grantham.

Constellation Brands

Constellation Brands (NYSE:STZ) has a $43.57 billion market cap; its shares were trading around $226.14 on Friday with a price-earnings ratio of 22, a price-book ratio of 3.3 and a price-sales ratio of 5.26.

The Victor, New York-based brewer produces and markets a wide range of beer, wine and spirits. It is also the largest beer import company in the U.S. by sales.

Trading with a GF Value of $218.37 and a price-to-GF Value ratio of 1.04, the stock appears to be fairly valued currently.

5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday
5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday

The GuruFocus valuation rank of 4 out of 10, however, leans more toward overvaluation.

Despite have sufficient interest coverage, Constellation Brands' financial strength was rated 4 out of 10 by GuruFocus. The Altman Z-Score of 3.33 indicates the company is in good standing even though its assets are building up at a faster rate than revenue is growing.

The company's profitability fared better with a 7 out of 10 rating. In addition to an expanding operating margin, Constellation is supported by strong returns that outperform a majority of competitors and a high Piotroski F-Score of 8, which suggests business conditions are healthy. It also has a one-star predictability rank.

Bill Nygren (Trades, Portfolio) is Constellation's largest guru shareholder with a 0.84% stake. Cohen, Pioneer, Diamond Hill, Dalio, Joel Greenblatt (Trades, Portfolio) and PRIMECAP Management (Trades, Portfolio), among other gurus, also own the stock.

McCormick

McCormick (NYSE:MKC) has a market cap of $24.21 billion; its shares were trading around $90.71 on Friday with a price-earnings ratio of 32.69, a price-book ratio of 6.21 and a price-sales ratio of 4.36.

The company headquartered in Baltimore is known for its spices and seasonings that enhance any recipe.

With a GF Value of $81.64 and a price-to-GF Value ratio of 1.10, the stock appears to be fairly valued currently.

5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday
5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday

The GuruFocus valuation rank of 1 out of 10 supports overvaluation, however.

GuruFocus rated McCormick's financial strength 4 out of 10 on the back of adequate interest coverage and a moderate Altman Z-Score of 2.67, which indicates the company is under some pressure since assets are building up at a faster rate than revenue is growing.

Boosted by an expanding operating margin, a good net margin and strong returns, the company's profitability scored an 8 out of 10 rating. In addition, McCormick has a high Piotroski F-Score of 7, while consistent earnings and revenue growth contributed to a 3.5-star predictability rank. GuruFocus data shows companies with this rank typically see their stocks gain an average of 9.3% annually.

Of the guru invested in McCormick, Pioneer has the largest holding with 0.21% of outstanding shares. Other top guru shareholders are Cohen, Dalio, Jerome Dodson (Trades, Portfolio), Lee Ainslie (Trades, Portfolio), Tom Russo (Trades, Portfolio), Greenblatt, Paul Tudor Jones (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Caxton Associates (Trades, Portfolio) and Mairs and Power (Trades, Portfolio).

Mondelez International

Mondelez International (NASDAQ:MDLZ) has an $80.7 billion market cap; its shares were trading around $56.40 on Friday with a price-earnings ratio of 22.76, a price-book ratio of 2.95 and a price-sales ratio of 3.07.

Headquartered in Deerfield, Illinois, the company is known for its Cadbury, Milka, Toblerone and Sour Patch Kids candy products, as well as Oreo cookies, Wheat Thins crackers, Ritz crackers products and many other snacks.

Based on the GF Value of $54.05 and price-to-GF Value ratio of 1.04, the stock appears to be fairly valued.

5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday
5 Consumer Defensive Stocks to Consider Ahead of Super Bowl Sunday

The GuruFocus valuation rank of 3 out of 10 indicates overvaluation, however, since the share price, price-book and price-sales ratios are all near 10-year highs.

Mondelez's financial strength was rated 5 out of 10 by GuruFocus. Although the company has issued approximately $1.5 billion in new long-term debt over the last three years, it is at a manageable level due to having adequate interest coverage. The Altman Z-Score of 2.28 also suggests the company is under some financial pressure. The return on invested capital is also eclipsed by the weighted average cost of capital, indicating good value creation.

Supported by an expanding operating margin, strong returns that outperform more than half of its industry peers and a moderate Piotroski F-Score of 5, the company's profitability scored a 6 out of 10 rating. It also has a one-star predictability rank.

With 0.86% of outstanding shares, Trian Fund Management LP is Mondelez's largest guru shareholder. Other top guru investors include Diamond Hill, Pioneer, Hotchkis & Wiley, Cohen, Gabelli, Carlson, Dalio, Buffett, Louis Moore Bacon (Trades, Portfolio), Jim Simons (Trades, Portfolio)' Renaissance Technologies and the T. Rowe Price Equity Income Fund.

Disclosure: No positions.

Read more here:

  • 23andMe to Go Public Via SPAC

  • Michael Kors' Parent Company Posts Strong 3rd-Quarter Earnings

  • Exxon Mobil Reports 4th Straight Quarter of Losses



Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.

This article first appeared on GuruFocus.

Latest Stories

  • Dr. Patel: Why lead COVID vaccines – even with lower efficacy – are a success across the board

    On Thursday, Johnson & Johnson submitted it’s COVID-19 vaccine for Emergency Use Authorization by the U.S. Food and Drug Administration. If greenlit by the Food and Drug Administration, it could be the nation’s third COVID vaccine producer, joining Pfizer and Moderna. Johnson & Johnson said last week that its one-dose vaccine has an overall 66% efficacy rate, not as high as Pfizer or Moderna’s two-dose vaccines with nearly 95% efficacy. Yahoo News Medical Contributor Dr. Kavita Patel explains why all of the top coronavirus vaccine manufacturers with clinical trials are considered a success across the board.

  • Conservative Newsmax guest says Defense Secretary Lloyd Austin was chosen 'probably for his skin colour'

    New appointment is a four-star general and commanded US forces in Iraq

  • Greene claims 'I'm fine with' getting kicked off her House committees: 'It'd be a waste of my time'

    Rep. Marjorie Taylor Greene (R-Ga.) on Friday declared she's been "freed" after being removed from her House committee assignments, claiming continuing to serve on them would have been a waste of time. The House of Representatives on Thursday voted to remove the controversial Georgia lawmaker from her committee assignments over a string of racist, anti-Semitic, and anti-Muslim comments and support for baseless conspiracy theories and violent rhetoric. In a press conference Friday, Greene said it was freeing to admit she "believed things that were wrong" in a speech the day before, during which she did not apologize but rather expressed regret for being "allowed to believe things that weren't true." "Going forward, I've been freed," Greene said Friday. "I do, I feel freed." Greene went on to claim that "I'd be wasting my time" by continuing to serve on House committees "because my conservative values wouldn't be heard," even though she also asserted removing her from them "stripped my voters of having representation to work for them." "I'm fine with being kicked off my committees because it'd be a waste of my time," she insisted. Greene went on to celebrate that she now has "a lot of free time on my hands," but she ended the press conference after refusing to address a question about her liking a Facebook post in 2019 calling for violence against House Speaker Nancy Pelosi (D-Calif.). More stories from theweek.comMitt Romney's child benefit is a challenge to both parties5 scathing cartoons about the GOP's Marjorie Taylor Greene problemWhat would actually happen if the feds fought QAnon like terrorists?

  • Kyle Rittenhouse fires attorney who helped raise his bail

    An 18-year-old from Illinois who's accused of killing two people and wounding a third during a police brutality protest in Wisconsin last summer fired a California attorney who had been soliciting money for his case. John Pierce, a Los Angeles lawyer, had been at the forefront of Kyle Rittenhouse's defense, helping raise money from conservatives to post Rittenhouse's $2 million bail in November. He also hired attorney Mark Richards to handle proceedings in Wisconsin.

  • New Israeli Covid drug which cured 30 cases of disease hailed by scientists as 'huge breakthrough'

    A new coronavirus drug which successfully cured 30 cases of the disease in Israeli hospital patients has been hailed by scientists as a ‘huge breakthrough’. The EXO-CD24 substance was developed at the Ichilov Medical Centre in Tel Aviv and successfully completed its first phase of clinical trials on Friday. The treatment was given to 30 patients with coronavirus, whose conditions ranged from moderate to severe. Twenty-nine of the patients were then discharged from the hospital in the following three to five days, while one patient took slightly longer to recover. A protein known as CD24 is delivered to the lungs by exosomes in the drug, which helps to rebalance the immune system and prevent it from overreacting to the virus. Professor Nadir Arber originally designed EXO-CD24, which is breathed in as a gas and taken once every five days, in order to treat patients who had ovarian cancer. “Even if the vaccines do their job, and even if there aren't any new mutations, one way or another, the coronavirus will be staying with us,” Prof Arber told the news site Arutz Sheva. “That’s why we developed this special medication. It’s been about half a year from the time the idea was hatched to the first human trials [being] conducted.” Roni Gamzu, the director of the Ichilov Medical Centre, said that the research during phase one of the trial was “advanced and sophisticated and may save coronavirus patients”. Speaking to the Times of Israel, he said: “The results of the phase one trials are excellent, and all give us confidence in the method Arber has been researching in his lab for many years.” No placebo was used in the first stage of the trial, and the next phase of the clinical trials will continue to examine the effects and efficacy of the treatment. The drug Allocetra, which has been developed at the Hadassah Medical Centre, has also reported promising results in the second stage of its clinical trial. Israel announced yesterday that it will ease lockdown restrictions but keep its borders closed after a drop in its number of coronavirus cases.

  • Biden unites with all past presidents - apart from Trump - to call for end to ‘political extremism’

    'For so many in our nation, this is a dark, dark time' says US president

  • Marjorie Taylor Greene tells lawmakers she regrets being 'allowed to believe things that weren't true'

    Controversial lawmaker Rep. Marjorie Taylor Greene (R-Ga.) acknowledged Thursday afternoon the 9/11 terrorist attacks really happened while insisting inflammatory remarks she's made "do not represent me." Greene, who has been under fire for past racist and anti-Semitic remarks and support of conspiracy theories including QAnon and the false assertion that school shootings are hoaxes, spoke on the House floor ahead of a vote to remove her from committee assignments, saying she regrets being "allowed to believe things that weren't true." The Georgia representative described at the end of 2017 becoming "very interested" in QAnon, which involves the false belief in a satanic cabal made up of prominent Democrats, but said that she later "started finding misinformation" in these online posts and then "stopped believing it." "You see, school shootings are absolutely real," Greene said, adding that "9/11 absolutely happened" and "I do not believe that it's fake." She previously questioned in 2018 if the Pentagon was actually hit by a plane on Sept. 11. Greene went on to assert that her "words of the past" don't "represent me" or "my values," even though she's under fire for comments made just within the past few years, while at the same time drawing an equivalence between QAnon and the news media. "Will we allow the media, that is just as guilty as QAnon of presenting truth and lies, to divide us?" she asked. Greene did not offer a direct apology during her remarks. A floor vote to remove her from her committee assignments is set to take place later on Thursday. Rep. Marjorie Taylor Greene: "A lot of Americans don't trust our government...I was allowed to believe things that weren't true...and that is absolutely what I regret because if it weren't for the Facebook posts & comments that I liked in 2018, I wouldn't be standing here today." pic.twitter.com/TLfVmvbvqn — CSPAN (@cspan) February 4, 2021 More stories from theweek.comMitt Romney's child benefit is a challenge to both parties5 scathing cartoons about the GOP's Marjorie Taylor Greene problemWhat would actually happen if the feds fought QAnon like terrorists?

  • Putin's approval rating holds steady despite Navalny crackdown: poll

    Nationwide protests over the jailing of Kremlin critic Alexei Navalny and a sweeping police crackdown have so far had little impact on Russia President Vladimir Putin's approval rating, a survey by independent pollster Levada showed on Thursday. A court on Tuesday sentenced Navalny, a prominent Putin opponent, to three and a half years for parole violations he said were trumped up, ignoring calls from the West and protesters at home to release him. The Levada Centre poll, conducted in the leadup to the sentencing, showed an overall 1% drop in approval of Putin to 64% from 65% in November among 1,616 adults in 50 regions, a relatively small sample of Russia's 145 million population.

  • Man Who Pushed 91-Year-Old in Oakland Chinatown Assaults 2 Others Right After

    An unidentified assailant was caught on surveillance camera pushing a 91-year-old man to the ground in a recent unprovoked attack in Oakland Chinatown. The incident happened outside the Asian Resource Center at the corner of Harrison and 8th streets on Jan. 31, according to ABC7. The suspect reportedly approached two other victims shortly after the first attack, resulting in one of them losing consciousness, according to the Oakland Police Department’s statement.

  • Iran receives its first batch of foreign coronavirus vaccine

    Iran on Thursday received its first batch of foreign-made coronavirus vaccines as the country struggles to stem the worst outbreak of the pandemic in the Middle East. The shipment consists of 500,000 doses of Russian-made Sputnik V vaccines which arrived at Tehran’s Imam Khomeieni International Airport from Moscow, the semi-official Fars news agency reported. Also Iranian state TV quoted Tehran’s ambassador to Russia, Kazem Jalali, as saying that Iran has ordered 5 million doses from Russia.

  • 27 Best Desk Lamps to Brighten Up 2021

    Let there be lightOriginally Appeared on Architectural Digest

  • Ex-Cruz spokesperson says this is Trump’s most damning riot tweet ahead of impeachment trial

    'It’s all there. Essentially, yep, this is what happens when you don’t re-elect me. He pushes big election lie some more and wraps mob in love. What more do we need to see here,' Amanda Carpenter said

  • Senate votes down $15 minimum wage during vote-a-rama. Bernie Sanders seems unfazed.

    The Senate slogged through a long series of votes late Thursday and early Friday, with the Democrats voting down most of the theoretically limitless series of amendments to their budget resolution. "The endurance run known as the 'vote-a-rama' is a time-honored tradition of the reconciliation process — the budget tool Democrats will likely use to expedite passage of [President] Biden's $1.9 trillion coronavirus relief plan without any GOP support," Politico explains. Most of the vote-a-rama involved "Republicans forcing Democrats into tedious and uncomfortable votes on a variety of issues as Democrats inflicted maximum pain by dragging out the legislative torment," Politico reports. But some amendments did pass with bipartisan support. By a voice vote, for example, the senators approved an amendment from Sen. Joni Ernst (R-Iowa) to "prohibit the increase of the federal minimum wage during a global pandemic." Raising the minimum wage to $15 an hour is one of the heavy lifts in Biden's proposal. "A $15 federal minimum wage would be devastating for our hardest-hit small businesses at a time they can least afford it," Ernst argued on the Senate floor. The measure's biggest proponent, Budget Committee Chairman Bernie Sanders (I-Vt.), shrugged off the vote, noting that his plan raised the minimum wage over five years, starting after the pandemic. "We need to end the crisis of starvation wages in Iowa and around the United States," he said, adding that he "will do everything that I can" to make sure the measure "is included in this reconciliation bill." The minimum wage hike may be stymied by other factors: Sen. Joe Manchin (D-W.Va.) is opposed, and it may run afoul of so-called Byrd Rule limits on what can be included in reconciliation bills. House Speaker Nancy Pelosi (D-Calif.) said if it doesn't make it in this bill, Democrats will include it in other legislation. The Senate also approved amendments to keep America's Israeli embassy in Jerusalem, prevent undocumented immigrants from getting direct stimulus checks, and — by a 99-1 vote — restrict Biden's $1,400 checks from going to "upper-income taxpayers." That proposal, from Manchin and Sen. Susan Collins (R-Maine), did not specify any income thresholds, and Biden's proposal already includes phasing out the checks up to $300,000-a-year households. Congress and the White House are negotiating the phase-out and cutoff points, and Biden is meeting with Democratic leaders and committee chairs Friday morning to discuss the COVID-19 relief bill. More stories from theweek.comMitt Romney's child benefit is a challenge to both parties5 scathing cartoons about the GOP's Marjorie Taylor Greene problemWhat would actually happen if the feds fought QAnon like terrorists?

  • China's latest weapon against Taiwan: the sand dredger

    ON BOARD THE TAIWAN COAST GUARD SHIP PP-10062, East China Sea (Reuters) - Taiwanese coast guard commander Lin Chie-ming is on the frontline of a new type of warfare that China is waging against Taiwan. On a chilly morning in late January, Lin, clad in an orange uniform, stood on the rolling deck of his boat as it patrolled in choppy waters off the Taiwan-run Matsu Islands. The Chinese goal, Taiwanese officials say: pressure Taiwan by tying down the island democracy's naval defenses and undermining the livelihoods of Matsu residents.

  • QAnon Shaman pictured without horns and face paint in mugshot, as he’s moved to jail with organic food

    Jacob Anthony Chansley was transported to Virginia facility on Thursday evening

  • Yemen gov't says willing to work with Biden to end Saudi war

    Yemen's foreign minister said his government will work with President Joe Biden's administration to end the war in the Arab world's poorest country. On Thursday, Biden announced the U.S. was ending support for the grinding Saudi-led war in Yemen.

  • Virginia woman dies shortly after receiving coronavirus vaccine

    It was not clear what, if any, underlying conditions might have contributed to her death.

  • Ohio police officer charged with murder over Andre Hill death

    A white Columbus, Ohio, police officer was charged with murder Wednesday in the latest fallout following the December shooting death of 47-year-old Andre Hill, a Black man, the state's attorney general said.

  • Prosecutors don't know where Kenosha shooter Kyle Rittenhouse is, want him arrested again

    Prosecutors in Kenosha, Wisconsin, sought a new arrest warrant Wednesday for Kyle Rittenhouse, the teenager charged with killing two people during an Aug. 25 protest against the police shooting of Jacob Blake, a Black man now paralyzed from the waist down. The prosecutors said Rittenhouse has violated the terms of his $2 million bond by moving without informing the court or providing his new address. After a court filing sent to Rittenhouse was returned as undeliverable Jan. 28, Kenosha detectives visited Rittenhouse's listed address and discovered another man has been living there since mid-December, prosecutors explained. It is "extremely unusual for a defendant facing a charge of first-degree intentional homicide in Kenosha County to post cash bond and be released from custody pending trial," prosecutors said in their motion. "Rarely does our community see accused murderers roaming about freely." Along with Rittenhouse's arrest, they asked the court to increase his bond by $200,000, noting that since his $2 million bond had been paid from a "dubious internet fundraising campaign," Rittenhouse "has no financial stake in the bond" and no incentive to cooperate since "he is already facing the most serious possible criminal charges and life in prison." Rittenhouse's lawyer, Mark Richards, responded Wednesday night, saying his client is in an undisclosed "safe house" due to death threats and "has stayed in constant contact" with his lawyers, if not the courts. He said he had offered to provide prosecutors with the new address if they would keep it secret, and they declined. Rittenhouse, now 18, is accused of fatally shooting Joseph Rosenbaum, 36, and Anthony Huber, 26, and wounding a third man. He says he fired in self-defense. Prosecutors sought to amend the terms of his bail last month after video footage captured him drinking with a group of Proud Boys at a Wisconsin bar and flashing white-power hand signs. It is legal for 18-year-olds to drink in bars in Wisconsin if a parent is present, and Rittenhouse's mom was apparently at the bar with him. More stories from theweek.com5 scathing cartoons about the GOP's Marjorie Taylor Greene problemGOP Sen. Ben Sasse slams Nebraska GOP over censure: 'Politics isn't about the weird worship of 1 dude'Senate votes down $15 minimum wage during vote-a-rama. Bernie Sanders seems unfazed.

  • Turkish minister says U.S. behind 2016 failed coup: Hurriyet

    Turkey's interior minister accused the United States on Thursday of being behind a 2016 failed coup that Ankara has blamed on a U.S.-based Muslim preacher, the Hurriyet daily reported, at a time when Turkey is seeking improved ties with its NATO ally. The U.S. State Department said the accusation was "wholly false." More than 250 people were killed in the attempt to overthrow President Tayyip Erdogan and his government on July 15, 2016, when rogue soldiers commandeered warplanes, helicopters and tanks to seize state institutions.