Editor's note: A prior version of this article included incorrect data associated with the companies in the table. The Fool regrets the error.

As an investor, it doesn't pay to follow the crowd.

In this series, though, we highlight a possible exception -- the collective wisdom of our CAPS community. Read the next section if you're unfamiliar with our methodology. Skip it if you want to go straight to the results.

Why this crowd is different
Jumping into a stock because your rich neighbor did, or because you heard about it from your friend's uncle who used to work on Wall Street, or because CNBC has been talking about it nonstop is a recipe for disaster.

If there's one thing I've learned as a stock analyst, it's that any stock can be gussied up to sound like a world-beater. If there's a second thing I've learned, it's that being a smart person doesn't make you a good investor.

In the hands of a smart person with good communication skills, the never-were and never-will-be stocks sound like tickets to instant fortune. The ancient Greek philosophers made the distinction between rhetoric and knowledge. The former is convincing; the latter is true.

That's why we factor in track record in our Motley Fool CAPS community. We invite everyone to give stocks an outperform (akin to a "buy" call) or underperform rating (akin to a "sell" call) in CAPS. We then use those opinions to calculate a rating for each stock -- from one to five stars (five being the best). But -- and this is a big distinction -- we give more weight to the opinions of folks whose picks have performed well in the past.

The top seven consumer goods high-yielders
With that methodology as prelude, I present to you the seven four- and five-star-rated consumer goods stocks (both durable and non-durable) yielding 3% or more that have garnered the most outperform ratings by CAPS members. I used a minimum market capitalization of $100 million, and the proviso that any candidate must be listed on a major U.S. exchange. Remember, stocks are rated on a five-star scale by our CAPS community, so four- and five-star stocks are consensus outperforms.

Company Name

Market Capitalization
(in millions)

P/E Ratio

Dividend Yield

CAPS Rating
(out of 5)

Outperform Picks

Procter & Gamble (NYSE: PG)

$169,680

14.5

3.2%

*****

         6,856

Kimberly-Clark (NYSE: KMB)

$26,765

13.9

4.0%

*****

            750

Clorox (NYSE: CLX)

$9,082

15.4

3.4%

*****

            602

Cherokee (Nasdaq: CHKE)

$156

13.4

8.6%

****

            528

Mattel (Nasdaq: MAT)

$7,630

12.2

3.5%

****

            515

VF (NYSE: VFC)

$7,912

14.7

3.3%

****

            364

Sturm, Ruger (NYSE: RGR)

$253

8.6

3.0%

****

            343

Source: Motley Fool CAPS. NM= not meaningful.

There are some big names here. You probably buy a few goods from the top three vote-getters each time you hit the grocery store. They're each the kind of company you can buy on a dip and hold comfortably without much fear of obsolescence. A few of these companies, including VF, the maker of The North Face and Wrangler, also populate my personal watchlist.

More CAPS members think Procter & Gamble is an outperform than any other high-yielding consumer goods stock. Which is your favorite? Make your thoughts known in CAPS by clicking here. Or just go there to do further research on one of these stocks.

Anand Chokkavelu doesn't own shares of any company mentioned. Clorox, Kimberly-Clark, and Procter & Gamble are Motley Fool Income Investor recommendations. The Fool owns shares of and has written covered calls on Procter & Gamble. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool has a disclosure policy.