Investors interested in Consumer Staples stocks should always be looking to find the best-performing companies in the group. Has Beyond Meat (BYND) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Beyond Meat is one of 192 individual stocks in the Consumer Staples sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Beyond Meat is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BYND's full-year earnings has moved 5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that BYND has returned about 20.4% since the start of the calendar year. Meanwhile, stocks in the Consumer Staples group have gained about 1.7% on average. This means that Beyond Meat is performing better than its sector in terms of year-to-date returns.
Another Consumer Staples stock, which has outperformed the sector so far this year, is Ollie's Bargain Outlet (OLLI). The stock has returned 22.8% year-to-date.
In Ollie's Bargain Outlet's case, the consensus EPS estimate for the current year increased 8.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong 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 #181 in the Zacks Industry Rank. Stocks in this group have lost about 6.1% so far this year, so BYND is performing better this group in terms of year-to-date returns.
Ollie's Bargain Outlet, however, belongs to the Consumer Products - Staples industry. Currently, this 28-stock industry is ranked #85. The industry has moved -2.3% so far this year.
Investors with an interest in Consumer Staples stocks should continue to track Beyond Meat and Ollie's Bargain Outlet. These stocks will be looking to continue their solid performance.
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