Is Ambev (ABEV) Outperforming Other Consumer Staples This Year? – November 24, 2022 | So Good News
Investors interested in Consumer Staples stocks should always look for the best performing companies in the group. And Ambev (ABEV – Free Report) one of the products available right now? By looking at the stock’s short-term performance relative to its Consumer Staples peers, we can answer that question.
Ambev is a member of our Consumer Staples group, which includes 201 different companies and is currently ranked #7 in the Zacks Sector Rank. The Zacks Sector Rank measures the strength of our 16 individual sector groups by measuring the Zacks Score of the stocks within the sector.
Zacks Rank is a proven system that emphasizes earnings estimates and revised estimates, showing a variety of stocks that show the right conditions to hit the market in the next one to three months. Ambev currently sports a Zacks Rank of #2 (Buy).
Over the past quarter, the Zacks Consensus Estimate for ABEV’s full-year earnings has increased by 3.3%. This is an indicator of the management of professional opinion and the perception of successful earnings.
According to our latest data, ABEV has moved about 4.3% year to date. Meanwhile, shares in the Consumer Staples group have lost about 2.8% on average. As we can see, Ambev is doing better than its share in the calendar year.
General Mills (GIS – Free Report) is another Consumer Staples stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 22.9%.
Over the past three months, General Mills’ EPS estimate for this year has risen 2.2%. It currently has a Zacks Rank #2 (Buy).
To break things down, Ambev belongs to the Beverages – Alcohol industry, a group that includes 18 companies and is currently ranked #81 in the Zacks Industry Rank. On average, stocks in the group have lost 5.8% this year, meaning ABEV is doing well in terms of annual returns.
On the other hand, General Mills belongs to Food – Miscellaneous industry. These 51 companies are ranked #64. The company moved +5.9% year to date.
Going forward, investors interested in Consumer Staples stock should continue to keep an eye on Ambev and General Mills as they could remain strong.