COCO - These food and beverage stocks are defying the stock market selling pressure

Investors continue to take refuge in favored food and beverage stocks as the stock market spins lower amid macroeconomic, supply chain, and inflation concerns. With the broad market in negative territory on Tuesday, F&B names showing gains included Embotelladora Andina S.A. (AKO.A) +5.71%, Coca-Cola Consolidated (COKE) +3.90%, Vita Coco Company (COCO) +1.55%, Nomad Foods (NOMD) +1.62%, Post Holdings (POST) +1.40%, BellRing Brands (BRBR) +1.35% and Kellogg (K) +1.35%. Food supplier G. Willi-Food International (WILC) +4.90% also was in favor, as where grocery store stocks Albertsons Companies (ACI) +2.69%, Sprouts Farmers Marker (SFM) +2.02% and Village Super Market (VLGEA) +1.77%. The Invesco Dynamic Food & Beverage ETF (PBJ) was flat on the day compared to the 3.0% drop for the Nasdaq and 1.8% decline for the S&P 500 Index. For the year, notable grocery/food/beverage winners include Grocery Outlet Holding Corp. (GO) +35.11% YTD, (NGVC) +18.95%, Kroger (KR) +10.96%, Seneca Foods (SENEA) +17.69%,

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These food and beverage stocks are defying the stock market selling pressure