Is Coca-Cola HBC (CCHGY) Stock Outpacing Its Consumer Staples Peers This Year?

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? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Staples sector should help us answer this question.Coca-Cola HBC is one of 178 companies in the Consumer Staples group. The Consumer Staples group currently sits at #12 within 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 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).Within the past quarter, the Zacks Consensus Estimate for CCHGY's full-year earnings has moved 11.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.According to our latest data, CCHGY has moved about 55% on a year-to-date basis. Meanwhile, the Consumer Staples sector has returned an average of 4.6% on a year-to-date basis. 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 Local Bounti Corporation (LOCL). The stock is up 22.7% year-to-date.Over the past three months, Local Bounti Corporation's consensus EPS estimate for the current year has increased 13.7%. 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 #90 in the Zacks Industry Rank. On average, this group has gained an average of 5.8% so far this year, meaning that CCHGY is performing better in terms of year-to-date returns. Local Bounti Corporation, however, belongs to the Agriculture - Operations industry. Currently, this 15-stock industry is ranked #157. The industry has moved +13.2% so far this year.Coca-Cola HBC and Local Bounti Corporation could continue their solid performance, so investors interested in Consumer Staples stocks should continue to pay close attention to these stocks.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>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 HBC (CCHGY): Free Stock Analysis Report Local Bounti Corporation (LOCL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks