Por: Clark Schultz
La industria de bebidas ha sido una apuesta sólida durante los primeros ocho meses de 2022. De hecho, el grupo de orientación defensiva ha superado notablemente a los principales índices del mercado con poder de fijación de precios, dinámica competitiva benigna y fuertes características de crecimiento secular.
Morgan Stanley recently called the space a preferred sector in July as a bulwark against market volatility. The firm's analysts said that even among consumer staples and CPG companies vetted by conservative investors, beverage companies are “clearly superior”. Namely, Monster Beverage Corporation (MNST), Coca-Cola (NYSE:KO), and PepsiCo (PEP) were cited as favorites. Aside from Monster, each has posted a positive return in 2022 in contrast to the double-digit decline in the S&P. The outperformance for beverage names such as Pepsi- partner Celsius Holdings (CELH), Lacroix-maker National Beverage Corp. (FIZZ), and the Vita Coco Company (COCO) has been even more pronounced. The dynamic for alcoholic beverages, however, is less uniform. While Constellation Brands (STZ), Brown Forman (BF.B) and Molson Coors (TAP) have all outperformed in line with their alcohol-free peers, Boston Beer Company (SAM), Anheuser-Busch InBev (BUD), and the Duckhorn Portfolio (NAPA) have underperformed.
