Has Coca-Cola European (CCEP) Outpaced Other Consumer Staples Stocks This Year?
The Consumer Staples group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Coca-Cola European (CCEP) been one of those stocks this year? 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 a member of our Consumer Staples group, which includes 194 different companies and currently sits at #16 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. Coca-Cola European is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CCEP's full-year earnings has moved 0.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CCEP has gained about 2.9% so far this year. Meanwhile, stocks in the Consumer Staples group have lost about 1.7% on average. This means that Coca-Cola European is outperforming the sector as a whole this year.
Another Consumer Staples stock, which has outperformed the sector so far this year, is Hershey (HSY). The stock has returned 5.8% year-to-date.
In Hershey's case, the consensus EPS estimate for the current year increased 4.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Coca-Cola European belongs to the Beverages - Soft drinks industry, which includes 15 individual stocks and currently sits at #151 in the Zacks Industry Rank. On average, stocks in this group have lost 0% this year, meaning that CCEP is performing better in terms of year-to-date returns.
On the other hand, Hershey belongs to the Food - Confectionery industry. This 3-stock industry is currently ranked #15. The industry has moved +3.2% year to date.
Going forward, investors interested in Consumer Staples stocks should continue to pay close attention to Coca-Cola European and Hershey as they could maintain their solid performance.
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CocaCola Europacific Partners (CCEP) : Free Stock Analysis Report
Hershey Company The (HSY) : Free Stock Analysis Report
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