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Has MGP Ingredients (MGPI) Outpaced Other Consumer Staples Stocks This Year?

Zacks Equity Research
·2-min read

For those looking to find strong Consumer Staples stocks, it is prudent to search for companies in the group that are outperforming their peers. Has MGP (MGPI) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

MGP is a member of the Consumer Staples sector. This group includes 194 individual stocks and currently holds a Zacks Sector Rank of #13. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MGP is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for MGPI's full-year earnings has moved 7.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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According to our latest data, MGPI has moved about 7.2% on a year-to-date basis. Meanwhile, the Consumer Staples sector has returned an average of -2.6% on a year-to-date basis. This means that MGP is performing better than its sector in terms of year-to-date returns.

Sysco (SYY) is another Consumer Staples stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 1.5%.

For Sysco, the consensus EPS estimate for the current year has increased 6.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, MGP is a member of the Food - Miscellaneous industry, which includes 48 individual companies and currently sits at #163 in the Zacks Industry Rank. Stocks in this group have lost about 6.7% so far this year, so MGPI is performing better this group in terms of year-to-date returns. Sysco is also part of the same industry.

Going forward, investors interested in Consumer Staples stocks should continue to pay close attention to MGP and Sysco as they could maintain their solid performance.


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