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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 183 different companies and currently sits at #11 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Coca-Cola HBC is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CCHGY's full-year earnings has moved 1.3% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CCHGY has moved about 20.9% on a year-to-date basis. At the same time, Consumer Staples stocks have gained an average of 5.6%. This means that Coca-Cola HBC is outperforming the sector as a whole this year.
One other Consumer Staples stock that has outperformed the sector so far this year is International Flavors (IFF). The stock is up 24.5% year-to-date.
For International Flavors, the consensus EPS estimate for the current year has increased 5.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Coca-Cola HBC is a member of the Beverages - Soft drinks industry, which includes 14 individual companies and currently sits at #168 in the Zacks Industry Rank. This group has gained an average of 5% so far this year, so CCHGY is performing better in this area.
In contrast, International Flavors falls under the Consumer Products - Staples industry. Currently, this industry has 27 stocks and is ranked #147. Since the beginning of the year, the industry has moved +2.6%.
Investors with an interest in Consumer Staples stocks should continue to track Coca-Cola HBC and International Flavors. These stocks will be looking to continue their solid performance.
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