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 Conagra Brands (CAG - 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.
Conagra Brands is a member of the Consumer Staples sector. This group includes 177 individual stocks and currently holds a Zacks Sector Rank of #15. 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 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. CAG is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CAG's full-year earnings has moved 5.06% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CAG has gained about 0.74% so far this year. Meanwhile, stocks in the Consumer Staples group have lost about 10.05% on average. As we can see, Conagra Brands is performing better than its sector in the calendar year.
To break things down more, CAG belongs to the Food - Miscellaneous industry, a group that includes 42 individual companies and currently sits at #196 in the Zacks Industry Rank. This group has lost an average of 9.52% so far this year, so CAG is performing better in this area.
Going forward, investors interested in Consumer Staples stocks should continue to pay close attention to CAG as it looks to continue its solid performance.