U.S. markets closed
  • S&P 500

    -75.65 (-1.46%)
  • Dow 30

    -475.84 (-1.24%)
  • Nasdaq

    -267.10 (-1.62%)
  • Russell 2000

    -39.43 (-1.93%)
  • Crude Oil

    +0.43 (+0.51%)
  • Gold

    -12.50 (-0.53%)
  • Silver

    -0.28 (-0.99%)

    -0.0085 (-0.79%)
  • 10-Yr Bond

    -0.0770 (-1.68%)

    -0.0104 (-0.83%)

    +0.0370 (+0.02%)
  • Bitcoin USD

    -2,900.07 (-4.30%)
  • CMC Crypto 200

    0.00 (0.00%)
  • FTSE 100

    +71.78 (+0.91%)
  • Nikkei 225

    +80.92 (+0.21%)

Is Coca-Cola Europacific Partners (CCEP) Stock Outpacing Its Consumer Staples Peers This Year?

Investors interested in Consumer Staples stocks should always be looking to find the best-performing companies in the group. Is Coca-Cola European (CCEP) 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 European is one of 193 individual stocks in the Consumer Staples sector. Collectively, these companies sit at #13 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Coca-Cola European is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for CCEP's full-year earnings has moved 1.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, CCEP has moved about 2.4% on a year-to-date basis. Meanwhile, the Consumer Staples sector has returned an average of 1.2% on a year-to-date basis. This means that Coca-Cola European is performing better than its sector in terms of year-to-date returns.

Another stock in the Consumer Staples sector, Coca-Cola HBC (CCHGY), has outperformed the sector so far this year. The stock's year-to-date return is 5.9%.

In Coca-Cola HBC's case, the consensus EPS estimate for the current year increased 5.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Coca-Cola European belongs to the Beverages - Soft drinks industry, a group that includes 16 individual companies and currently sits at #38 in the Zacks Industry Rank. Stocks in this group have gained about 1.2% so far this year, so CCEP is performing better this group in terms of year-to-date returns. Coca-Cola HBC is also part of the same industry.

Investors with an interest in Consumer Staples stocks should continue to track Coca-Cola European and Coca-Cola HBC. These stocks will be looking 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

Coca-Cola Europacific Partners (CCEP) : Free Stock Analysis Report

Coca-Cola HBC (CCHGY) : Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research