The Consumer Staples sector offers a variety of excellent stocks for investors to consider. One such stock to watch is Hormel Foods (HRL), a company that has been showing strong performance compared to its peers in the sector.
Hormel Foods is part of the Consumer Staples group, which currently ranks at #10 within the Zacks Sector Rank. This ranking places it among 191 companies in the sector. The Zacks Rank, a stock-picking model that focuses on earnings estimates and revisions, has assigned Hormel Foods a ranking of #2 (Buy).
Analysts have observed a 1.6% increase in the Zacks Consensus Estimate for HRL’s full-year earnings over the past quarter, indicating a positive sentiment towards the stock. Year-to-date, Hormel Foods has seen a 10% increase, outperforming the average 3.1% gain of Consumer Staples stocks as a whole.
Another notable stock in the Consumer Staples sector is Tyson Foods (TSN), which has also shown strong performance this year with a 9.6% year-to-date return. With a consensus EPS estimate increase of 0.8% over the past three months and a Zacks Rank of #2 (Buy), Tyson Foods is worth keeping an eye on.
While Hormel Foods belongs to the Food – Meat Products industry, which currently ranks at #2 in the Zacks Industry Rank, it has slightly underperformed its industry peers with a 12.9% year-to-date return. Both Hormel Foods and Tyson Foods are part of this industry, making them key players to watch in the Consumer Staples sector.
Investors interested in Consumer Staples stocks should monitor the performance of Hormel Foods and Tyson Foods as they continue to deliver solid results.