For those looking to find strong Consumer Staples stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Coca-Cola HBC (CCHGY) one of those stocks right now? 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.
Coca-Cola HBC is a member of our Consumer Staples group, which includes 193 different companies and currently sits at #12 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Coca-Cola HBC is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CCHGY's full-year earnings has moved 9.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CCHGY has moved about 23.6% on a year-to-date basis. In comparison, Consumer Staples companies have returned an average of -2.7%. This means that Coca-Cola HBC is outperforming the sector as a whole this year.
Dole (DOLE) is another Consumer Staples stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 23.8%.
Over the past three months, Dole's consensus EPS estimate for the current year has increased 7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Coca-Cola HBC belongs to the Beverages - Soft drinks industry, which includes 17 individual stocks and currently sits at #41 in the Zacks Industry Rank. This group has gained an average of 6.6% so far this year, so CCHGY is performing better in this area.
In contrast, Dole falls under the Agriculture - Operations industry. Currently, this industry has 16 stocks and is ranked #201. Since the beginning of the year, the industry has moved -20%.
Investors interested in the Consumer Staples sector may want to keep a close eye on Coca-Cola HBC and Dole as they attempt to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report