US Consumer Staples "Crowded Stocks: What the Quant Data Says About..."

Research evidence excerpt

US Consumer Staples "Crowded Stocks: What the Quant Data Says About..."

part of the last year, we remain surprised MDLZ continues to screen as a crowded

short. Our discussions would suggest sentiment leans positive as many believe that

positive earnings momentum looking out to '27 will drive shares higher.

Key sector changes: Beverages and Packaged Food move higher, HPC moves

lower

In this month's data the order of preference changed, with the order of sector

preference now being (1) Packaged Food, (2) HPC, and (3) Beverages. The average

scores for Beverages and Packaged Food increased from last month, while HPC

decreased.

HPC: The average HPC score moved lower MoM, as increases for CL, NWL, and HELE

were offset by ELF, EPC, and YETI moving lower.

Beverages: The biggest drivers for the MoM increase for Beverages were driven by

increases for PEP, TAP, and SAM partially offset by an decreases for BF/B, KDP, and STZ.

Packaged Food: Packaged Food's higher score was driven by increases for SJM,

CAG, and MKC, partially offset by lower scores for FRPT, CPB, and KHC.

Find the change in crowding score, time series data, and more inside this note:

This report is a collaboration between UBS's Consumer Staples and Quantitative

research teams. The crowding scores are based on a proprietary combination of multiple

data sets. Please get in touch with ubs-quant-answers@ubs.com for more information.

This note also includes time series data on crowding and crowding momentum for select

US Consumer Staples stocks (Figures 15-102).

*UBS Quant Answers recently evaluated the Crowding dataset and determined that

from a business management perspective and to ensure the sustainability of the

product, a change to a data source should be made, which led to a decline in crowding