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When considering stocks, it's always helpful to gauge what the rest of the market thinks. One source for that is the number of shares shorted. Companies seeing significant increases in shares shorted are being viewed more negatively, and vice-versa.

Given that we are in the middle of the biggest shopping season, we thought it would be interesting to look at the consumer goods sector. So we list below the stocks in the consumer goods sector seeing the most significant decreases in shares shorted month-over-month (a bullish signal).

Interactive Chart: Press Play to compare changes in 1-year performance over the last two years for the stocks mentioned below.

Do you think these stocks have upside to price in? Use this list as a starting point for your own analysis.

List sorted by decrease in shares shorted as a percent of share float.

1. Blyth, Inc. (BTH): Operates as a multi-channel company in the home fragrance and decorative accessories industry. Market cap at $307.08M, most recent closing price at $18.0. Shares shorted have decreased from 4.66M to 4.46M over the last month, a decrease which represents about 2.12% of the company's float of 9.44M shares. Days to cover ratio at 7.34 days.

2. Campbell Soup Co. (CPB): Engages in the manufacture and marketing of branded convenience food products worldwide. Market cap at $11.37B, most recent closing price at $36.16. Shares shorted have decreased from 22.46M to 20.79M over the last month, a decrease which represents about 1.04% of the company's float of 160.84M shares. Days to cover ratio at 10.8 days.

3. Navistar International Corporation (NAV): Through its subsidiaries, manufactures and sells commercial and military trucks, buses, diesel engines, recreational vehicles (RVs), and chassis, as well as provides service parts for trucks and trailers. Market cap at $1.74B, most recent closing price at $21.92. Shares shorted have decreased from 14.36M to 12.58M over the last month, a decrease which represents about 3.09% of the company's float of 57.62M shares. Days to cover ratio at 6.44 days.

Short data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: Short Sellers Think These 3 Consumer Goods Stocks Are Ready To Rise