Investors interested in Consumer Staples stocks should always be looking to find the best-performing companies in the group. Beyond Meat (BYND) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Consumer Staples peers, we might be able to answer that question.
Beyond Meat is one of 198 individual stocks in the Consumer Staples sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Beyond Meat is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BYND's full-year earnings has moved 4.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that BYND has returned about 43% since the start of the calendar year. Meanwhile, the Consumer Staples sector has returned an average of -4% on a year-to-date basis. This means that Beyond Meat is outperforming the sector as a whole this year.
One other Consumer Staples stock that has outperformed the sector so far this year is Coca-Cola HBC (CCHGY). The stock is up 9% year-to-date.
For Coca-Cola HBC, the consensus EPS estimate for the current year has increased 3.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Beyond Meat belongs to the Food - Meat Products industry, a group that includes 6 individual companies and currently sits at #240 in the Zacks Industry Rank. This group has lost an average of 8.2% so far this year, so BYND is performing better in this area.
On the other hand, Coca-Cola HBC belongs to the Beverages - Soft drinks industry. This 16-stock industry is currently ranked #85. The industry has moved -1.5% year to date.
Investors with an interest in Consumer Staples stocks should continue to track Beyond Meat and Coca-Cola HBC. These stocks will be looking to continue their solid performance.
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