Investors with an interest in Beverages - Soft drinks stocks have likely encountered both Fomento Economico (FMX) and Monster Beverage (MNST). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.Fomento Economico and Monster Beverage are sporting Zacks Ranks of #2 (Buy) and #5 (Strong Sell), respectively, right now. This means that FMX's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one factor that value investors are interested in.Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.FMX currently has a forward P/E ratio of 16.57, while MNST has a forward P/E of 37.99. We also note that FMX has a PEG ratio of 1.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MNST currently has a PEG ratio of 3.44.Another notable valuation metric for FMX is its P/B ratio of 3.63. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, MNST has a P/B of 6.73.These are just a few of the metrics contributing to FMX's Value grade of A and MNST's Value grade of F.FMX stands above MNST thanks to its solid earnings outlook, and based on these valuation figures, we also feel that FMX is the superior value option right now. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fomento Economico Mexicano S.A.B. de C.V. (FMX): Free Stock Analysis Report Monster Beverage Corporation (MNST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research