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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. Has Dole (DOLE) been one of those stocks this year? 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.
Dole is a member of our Consumer Staples group, which includes 184 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Dole is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DOLE's full-year earnings has moved 5.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DOLE has returned about 36.2% since the start of the calendar year. At the same time, Consumer Staples stocks have gained an average of 9.4%. This shows that Dole is outperforming its peers so far this year.
Another Consumer Staples stock, which has outperformed the sector so far this year, is Lifeway Foods (LWAY). The stock has returned 66.4% year-to-date.
For Lifeway Foods, the consensus EPS estimate for the current year has increased 23.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Dole belongs to the Agriculture - Operations industry, a group that includes 14 individual stocks and currently sits at #74 in the Zacks Industry Rank. On average, stocks in this group have lost 8.5% this year, meaning that DOLE is performing better in terms of year-to-date returns.
On the other hand, Lifeway Foods belongs to the Food - Dairy Products industry. This 3-stock industry is currently ranked #30. The industry has moved -2% year to date.
Going forward, investors interested in Consumer Staples stocks should continue to pay close attention to Dole and Lifeway Foods as they could maintain their solid performance.
Zacks Investment Research
After reaching an important support level, Lifeway Foods, Inc. (LWAY) could be a good stock pick from a technical perspective. LWAY recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.
There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving average. Typically, a golden cross involves the 50-day and the 200-day moving averages, since bigger time periods tend to form stronger breakouts.
A successful golden cross event has three stages. It first begins when a stock's price on the decline bottoms out. Then, its shorter moving average crosses above its longer moving average, triggering a positive trend reversal. The third and final phase occurs when the stock maintains its upward momentum.
A golden cross is the opposite of a death cross, another technical event that indicates bearish price movement may be on the horizon.
Over the past four weeks, LWAY has gained 19.5%. The company currently sits at a #1 (Strong Buy) on the Zacks Rank, also indicating that the stock could be poised for a breakout.
The bullish case solidifies once investors consider LWAY's positive earnings outlook. For the current quarter, no earnings estimate has been cut compared to 1 revisions higher in the past 60 days. The Zacks Consensus Estimate has increased too.
Investors should think about putting LWAY on their watchlist given the ultra-important technical indicator and positive move in earnings estimates.
Zacks Investment Research
In the present edgy economic backdrop, it's important for investors to assess evolving market conditions and accordingly adopt a robust investment approach. While a stock's sales and earnings figures can influence investment decisions, this approach doesn't consistently deliver optimal returns amid complex market challenges like what we are witnessing currently.
As a result, it is intriguing to pick quality stocks at the current level. Upbeat Return on equity (ROE) can serve as one such quality measure. Let’s delve a little deeper.
Inside the Strength of Return on Equity Measure
Return on equity (ROE) is one of the most favored metrics of investors. It is a profitability ratio that measures earnings generated by a company from its equity. Investors can follow the ROE trend in companies and compare this to historical or industry benchmarks to pick a winning stock.
However, stepping beyond the basic ROE and analyzing it at an advanced level could lead to even better returns. Here is where the DuPont analysis comes into play. It is an analytical method, which examines three major elements — operating management, management of assets and the capital structure — related to the financial condition of a company. Below we show how DuPont breaks down ROE into its different components:
ROE = Net Income/Equity
Net Income / Equity = (Net Income / Sales) * (Sales / Assets) * (Assets / Equity)
ROE = Profit Margin * Asset Turnover Ratio * Equity Multiplier
The screener yields winning stocks like Group 1 Automotive GPI, Valero Energy VLO, Lifeway Foods LWAY, EMCOR Group EME and Sprouts Farmers Market SFM.
Why Use DuPont?
Although one can’t play down the importance of normal ROE calculation, the fact remains that it doesn’t always provide a complete picture. The DuPont analysis, on the other hand, allows investors to assess the elements that play a dominant role in any change in ROE. It can help investors to segregate companies having higher margins from those having high turnover. For example, high-end fashion brands generally survive on high margins as compared with retail goods, which rely on higher turnover.
In fact, it also sheds light on the company’s leverage status, which can go a long way in selecting stocks poised for gains. A lofty ROE could be due to the overuse of debt. Thus, the strength of a company can be misleading if it has a high debt load.
So, an investor confined solely to an ROE perspective may be confused if he or she has to judge between two stocks of equal ratio. This is where DuPont analysis wins over and spots the better stock.
Investors can simply do this analysis by taking a look at the company’s financials.However, looking at the financial statements of each company separately can be a tedious task. Screening tools like Zacks Research Wizard can come to your rescue and help you shortlist the stocks that look impressive with a DuPont analysis.
Screening Parameters
• Profit Margin more than or equal to 3: As the name suggests, it is a measure of how profitably the business is running. Generally, it is the key contributor to ROE.
• Asset Turnover Ratio more than or equal to 2: It allows an investor to assess management’s efficiency in using assets to drive sales.
• Equity Multiplier between 1 and 3: It’s an indication of how much debt the company uses to finance its assets.
• Zacks Rank less than or equal to 2: Stocks having a Zacks Rank #1 (Strong Buy) or 2 (Buy) generally perform better than their peers in all types of market environments.
• Current Price more than $5: This screens out the low priced stocks. However, when looking for lower-priced stocks, this criterion can be removed.
Here are four out of the six stocks that made it through the screen:
PC Connection: This Zacks Rank #2 company is a direct marketer of brand-name personal computers and related peripherals, software, and networking products to business, education, government, and consumer end users located primarily in the United States. You can see the complete list of today’s Zacks #1 Rank stocks here.
The average four-quarter earnings surprise of CNXN is 5.16%.
EMCOR Group: This Zacks Rank #1 company is one of the leading providers of mechanical and electrical construction, industrial and energy infrastructure, as well as building services for a diverse range of businesses.
The average earnings surprise of EME for the past four quarters is 36.51%.
Lifeway Foods: This Zacks Rank #1 company produces Kefir, a drinkable product similar to, but distinct from yogurt, in several flavors sold under the name Lifeway's Kefir.
The average earnings surprise of LWAY for the past four quarters is 20.32%.
Sprouts Farmers Market: This Zacks Rank #1 company operates in a highly fragmented grocery store industry. It has a unique model that features fresh produce, a foods section and a vitamin department focused on overall wellness.
The average earnings surprise of SFM for the past four quarters is 11.95%.
You can get the remaining stock on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.
Zacks Investment Research
For Immediate Release
Chicago, IL – September 10, 2024 – Today, Zacks Investment Ideas feature highlights Dole DOLE and Pilgrim’s Pride PPC.
2 Food Stocks to Buy Amid Heightened Market Volatility
September is living up to its connotation of being the most volatile month for the stock market but Dole and Pilgrim’s Pride are two consumer food stocks that may be able to offer defensive safety in the portfolio.
Both consumer staples companies have landed spots on the Zacks Rank #1 (Strong Buy) list. Even better, in addition to having an “A” Zacks Style Scores grade for Value they have beta ratios under 1.0, suggesting they should be less volatile than the broader market.
Dole is a Leading Fruit Producer
As a leading producer of fresh bananas and pineapples, Dole also has a growing presence among berries, avocados, and organic produce. Although DOLE has soared over +20% year to date, it has a low-risk reading with its beta ratio at 0.84.
To that point, Dole’s offerings are a mainstay among dietary consumption, and its stock still stands out at $15 and 13.2X forward earnings. This is roughly on par with its Zacks Agriculture-Operations Industry average and a nice discount to the S&P 500’s 22.8X forward earnings multiple despite topping the impressive performances of the broader indexes in recent years.
Dole’s valuation magnifies its affordable price tag as annual earnings are expected to dip -2% in fiscal 2024 but are projected to rebound and climb 19% in FY25 to $1.44 per share.
Plus, DOLE has a generous 2.01% annual dividend yield and earnings estimate revisions are up over 5% in the last 30 days for FY24 and FY25.
Pilgrim’s Pride is Growing as a Poultry Producer
Producing value-added chicken products, Pilgrim’s has strived to strengthen its prepared foods category with an emphasis on organic products including non-antibiotic produce.
Checking in with a beta ratio of 0.82, Pilgrim’s stock has skyrocketed over +60% YTD but still trades at just 9.4X forward earnings. Trading around $45, PPC still offers a significant discount to the benchmark and the Zacks Food-Meat Products Industry average of 17.6X forward earnings.
More intriguing is that Pilgrim’s stock is also at a discount to its decade-long high of 25.1X forward earnings and the median of 11.1X during this period.
Furthermore, Pilgrim's checks an “A” Zacks Styles Scores grade for Growth as well with EPS now forecasted to increase 183% this year to $4.79 per share versus $1.69 a share in 2023.
While earnings are projected to be virtually flat next year, EPS estimates for FY24 and FY25 have increased over 13% in the last 60 days respectively.
Bottom Line
Seeing as consumer food stocks tend to be defensive investments, now appears to be a good time to buy Dole and Pilgrim's Pride shares considering their increased profitability. Low beta measurements and attractive P/E valuations also attest to this, especially with earnings estimate revisions on the rise.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Investment Research
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Lifeway Foods , a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Lifeway Foods currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here
Set to Beat the Market?
In order to see if LWAY is a promising momentum pick, let's examine some Momentum Style elements to see if this dairy and cheese company holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For LWAY, shares are up 3.44% over the past week while the Zacks Food - Dairy Products industry is down 1.04% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 59.64% compares favorably with the industry's 1.28% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Over the past quarter, shares of Lifeway Foods have risen 47.95%, and are up 74.79% in the last year. On the other hand, the S&P 500 has only moved 6.49% and 25.94%, respectively.
Investors should also pay attention to LWAY's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. LWAY is currently averaging 206,593 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with LWAY.
Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost LWAY's consensus estimate, increasing from $0.80 to $0.99 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that LWAY is a #1 (Strong Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Lifeway Foods on your short list.
Zacks Investment Research
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