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Is Hormel Foods (HRL) Stock Outpacing Its Consumer Staples Peers This Year?
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The Consumer Staples group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Hormel Foods (HRL - Free Report) 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.
Hormel Foods is one of 191 companies in the Consumer Staples group. The Consumer Staples group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Hormel Foods is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for HRL's full-year earnings has moved 1.6% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, HRL has moved about 10% on a year-to-date basis. At the same time, Consumer Staples stocks have gained an average of 3.1%. This means that Hormel Foods is outperforming the sector as a whole this year.
Another stock in the Consumer Staples sector, Tyson Foods (TSN - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 9.6%.
For Tyson Foods, the consensus EPS estimate for the current year has increased 0.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Hormel Foods belongs to the Food - Meat Products industry, a group that includes 5 individual stocks and currently sits at #2 in the Zacks Industry Rank. Stocks in this group have gained about 12.9% so far this year, so HRL is slightly underperforming its industry this group in terms of year-to-date returns. Tyson Foods is also part of the same industry.
Investors with an interest in Consumer Staples stocks should continue to track Hormel Foods and Tyson Foods. These stocks will be looking to continue their solid performance.
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Is Hormel Foods (HRL) Stock Outpacing Its Consumer Staples Peers This Year?
The Consumer Staples group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Hormel Foods (HRL - Free Report) 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.
Hormel Foods is one of 191 companies in the Consumer Staples group. The Consumer Staples group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Hormel Foods is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for HRL's full-year earnings has moved 1.6% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, HRL has moved about 10% on a year-to-date basis. At the same time, Consumer Staples stocks have gained an average of 3.1%. This means that Hormel Foods is outperforming the sector as a whole this year.
Another stock in the Consumer Staples sector, Tyson Foods (TSN - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 9.6%.
For Tyson Foods, the consensus EPS estimate for the current year has increased 0.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Hormel Foods belongs to the Food - Meat Products industry, a group that includes 5 individual stocks and currently sits at #2 in the Zacks Industry Rank. Stocks in this group have gained about 12.9% so far this year, so HRL is slightly underperforming its industry this group in terms of year-to-date returns. Tyson Foods is also part of the same industry.
Investors with an interest in Consumer Staples stocks should continue to track Hormel Foods and Tyson Foods. These stocks will be looking to continue their solid performance.