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Are Consumer Staples Stocks Lagging Coca-Cola Europacific Partners (CCEP) 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 European (CCEP) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Coca-Cola European is one of 198 companies in the Consumer Staples group. The Consumer Staples group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. 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 9.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the latest available data, CCEP has gained about 1.3% so far this year. Meanwhile, stocks in the Consumer Staples group have lost about 3.1% 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 Chewy (CHWY). The stock has returned 20.9% year-to-date.

Over the past three months, Chewy's consensus EPS estimate for the current year has increased 70.4%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Coca-Cola European belongs to the Beverages - Soft drinks industry, a group that includes 16 individual stocks and currently sits at #28 in the Zacks Industry Rank. This group has gained an average of 6.2% so far this year, so CCEP is slightly underperforming its industry in this area.

Chewy, however, belongs to the Consumer Products - Staples industry. Currently, this 29-stock industry is ranked #147. The industry has moved -22.4% so far this year.

Investors interested in the Consumer Staples sector may want to keep a close eye on Coca-Cola European and Chewy as they attempt to continue their solid performance.

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CocaCola Europacific Partners (CCEP) : Free Stock Analysis Report

Chewy (CHWY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research