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PepsiCo

Pepsico, Inc.

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PepsiCo is a global leader in snacks and beverages, owning well-known household brands including Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others. The company dominates the global savory snacks market and also ranks as the second-largest beverage provider in the world (behind Coca-Cola) with diversified exposure to carbonated soft drinks, or CSD, as well as water, sports, and energy drink offerings. Convenience foods account for approximately 55% of its total revenue, with beverages making up the rest. Pepsi owns the bulk of its manufacturing and distribution capacity in the US and overseas. International markets make up 40% of total sales and one third of operating profits.

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Leading cryptocurrency <a href="https://www.benzinga.com/money/bitcoin-price-prediction">Bitcoin </a>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is smashing through new all-time highs following the 2024 presidential election and is now valued significantly higher than <a href="https://www.benzinga.com/topic/market-cap">many publicly traded companies</a>.
What Happened: Bitcoin's market capitalization is currently $1.765 trillion. That&#8217;s larger than the combined market capitalization of the following five companies:
<ul>
<li>Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>): $686.9 billion</li>
<li>Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>): $349.7 billion</li>
<li>Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>): $273.4 billion</li>
<li>PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>): $225.5 billion</li>
<li>McDonald's Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>): $214.5 billion</li>
<li>Total: $1.75 trillion</li>
</ul>
That's right. Bitcoin is worth more than the combined valuations of one of the world's largest retailers, a global streaming leader, two global beverage leaders, and a global fast-food chain.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41896277/bitcoin-nears-90000-how-high-can-the-apex-crypto-go">Bitcoin Nears $90,000—How High Can The Apex Crypto Go?</a>
Why It Matters: It&#8217;s worth noting that there are currently just nine global companies that have a market capitalization of $1 trillion or more. Bitcoin would take seventh place if it was considered a publicly traded company.
Based on Tuesday's market capitalization level, Bitcoin would currently rank between Saudi Aramco, which has a $1.807 trillion valuation, and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), which has a $1.476 trillion valuation. 
Bitcoin has traded between $34,948.50 and $89,956.88 over the past year with the one-year high also setting a new all-time high on Nov. 12.
What&#8217;s Next: Bitcoin has blasted higher through <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41887610/bitcoin-shatters-87000-all-time-high-ethereum-up-5-dogecoin-blasts-through-0-30-for-20-gain-in-memorable-monday-trading-session">multiple all-time highs</a>. Traders and experts are now questioning if $100,000 is within reach by the end of the year.
If Bitcoin continues to trade higher, the leading cryptocurrency will likely continue to be more valuable than many of the most well-known global brands.
President-elect Donald Trump took<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41775353/bitcoin-hits-new-all-time-high-as-donald-trump-wins-second-term-what-now"> a pro-crypto stance </a>throughout the 2024 election campaign. Now, many industry experts expect the U.S. government to loosen sector regulations.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41890024/much-wow-dogecoin-is-now-larger-than-ford-adidas-lululemon-roblox-15-companies-worth-less-than-meme-crypto">Much Wow! Dogecoin Is Now Larger Than Ford, Adidas, Lululemon, Roblox: 15 Companies Worth Less Than Meme Crypto</a></li>
</ul>
Image: Unsplash

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Bitcoin Is Now Larger Than Walmart, Netflix, Coca-Cola, Pepsi And McDonald's Combined

News

Pepsico Exec Says Retailers Share Purchase Data To Improve Sales Forecasting

On Wednesday, The Coca Cola Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>) surpassed Wall Street estimates on both revenue and earnings fronts as higher prices managed to offset a rather sluggish demand for its beverages in the face of increasingly price-sensitive consumers.&nbsp;
<h3>Third Quarter Highlights</h3>
Adjusted net sales were roughly flat compared to last year, amounting to&nbsp;$11.95 billion, surpassing LSEG&rsquo;s consensus estimate of $11.60 billion. However, when acquisitions, divestitures and currency are excluded, organic revenue actually rose 9%.&nbsp;
Net income attributable to shareholders went did go down to $2.85 billion, or 66 cents per share while adjusted earnings amounted to 77 cents per share, topping LSEG&rsquo;s consensus estimate of 74 cents per share.
But, the reality is that North America consumers have been snacking and and drinking less, even its rival PepsiCo Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>) noticed it while also dealing with the fallout from Quaker Foods recalls. Pepsi said volume for its North American beverage business fell 3% in its third quarter. Overall, PepsiCo reported disappointing third quarter sales and also trimmed its growth outlook.&nbsp;
With a weakened international demand, Coca Cola reported its unit case volume fell by 1%. China and Turkey&rsquo;s declines were specifically named out.
Unit case volume fell 2% in both Europe, Middle East and Africa as well as Asia-Pacific regions. In North America, it was flat,&nbsp;as the weakened demand for water, sports, coffee and tea products offset growth in its namesake soda, juice, dairy, plant-based beverages and sparkling flavors.&nbsp;However, premium products with higher price tags like seltzers have performed well.
Global volume for&nbsp;sparkling soft drinks, like Sprite, and for its namesake soda were both flat, while juice, dairy and plant-based beverages division reported a 3%&nbsp;volume drop, with water, sports, coffee and tea segment&#39;s volume shrinking by&nbsp;4% which was mainly triggered by a&nbsp;6% drop in&nbsp;bottled water&#39;s volume.
Coca Cola executives stated that pricing rose 10% with a more normalized pricing on the horizon going into 2025.&nbsp;
<h3>A Reaffirmed Full Year Outlook</h3>
Coca Cola guided for 2024 organic revenue growth of roughly 10% which is the high end of the range between 9% and 10% it had previously provided, while also reiterating its earnings per share growth projection between 5% and 6%.&nbsp;
While Coca Cola will provide a full-year outlook for the upcoming year with the release of 2024&rsquo;s fourth quarter earnings report, it already revealed it is expecting currency to hurt its 2025 results, with headwinds for comparable revenue being in low-single digits and for earnings per share being in mid-single digits.
As for the fourth quarter, Coca Cola warned that earnings per share percentage growth will include a 10% currency headwind in addition to headwinds from acquisitions, divestitures and structural changes that will be about 3% to 4%.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Markets

General

Higher Prices Energized Coca Cola's Q3 Financials

This story was first published on the&nbsp;<a href="https://in.benzinga.com/markets/equities/24/10/41349626/much-appreciated-elon-musk-cheers-indias-move-to-allocate-satellite-spectrum" target="_blank">Benzinga India portal.</a>
PepsiCo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>)&nbsp;and&nbsp;Coca-Cola&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>) are reportedly considering launching more affordable soft drinks, priced 15%-20% lower than their mainstream products, to target regional markets and counter the growing competition from Reliance Consumer Products&rsquo; Campa.
What Happened: Billionaire Mukesh Amabani-owned&nbsp;Reliance&#39;s aggressive pricing in its Campa brand and higher trade margins for retailers in a bid to gradually expand its distribution has prompted global cola giants, which have dominated the market with little competition outside regional players, to devise counter-strategies, including introducing cheaper alternatives &mdash; or B-brands &mdash; to protect the image and margins of their core products, the Economic Times reported, citing sources.
Ravi Jaipuria, chairman of&nbsp;Varun Beverages,&nbsp;PepsiCo&rsquo;s&nbsp;largest bottling partner in India, spoke with the business daily and acknowledged the pricing competition from Campa but stated that PepsiCo had not been significantly affected.&nbsp;
However, he noted that if necessary, PepsiCo would create a range of products to compete in the B-segment pricing space. &quot;They (Reliance) have a different play,&quot; Jaipuria said during a post-earnings analyst call, while also admitting that Campa poses &quot;formidable competition&quot; and could capture market share.
If you&rsquo;d like to be ahead&nbsp;of the curve on the Indian stock market, sign up for our Ring The Bell newsletter by&nbsp;<a href="https://share.hsforms.com/1K1H7Kd0aRhmSdDIuxTAkxg1npzh" rel="noopener noreferrer" target="_blank">clicking here</a>.
Can&#39;t Budge On Price:&nbsp;Global soft drink leader&nbsp;Coca-Cola&nbsp;is also stepping up its distribution efforts, particularly in tier-2 markets, by pushing returnable glass bottles priced at ₹10. The company is also preparing to launch regional brands, like RimZim jeera, which it had previously introduced on a smaller scale. This strategy is intended to protect the margins of its mainstream brands and prevent diluting their equity.
Campa is priced competitively, selling a 200-millilitre bottle for ₹10 (12 cents), while Coca-Cola and PepsiCo sell 250-millilitre bottles for ₹20 (24 cents). A 500-millilitre bottle of Campa costs ₹20, compared to ₹30 (36 cents) for Coca-Cola and ₹40 (48 cents) for Pepsi.
Though PepsiCo and Coca-Cola have not reduced prices directly, they have increased local promotions, cross-promotions and bundling on quick-commerce platforms to maintain competitiveness. Reducing the price of core brands would directly impact margins, a key part of their strategies, industry sources told ET. Additionally, any pricing decision would need to involve independent franchisee bottling partners.
Reliance Consumer has been offering distributors a 6%-8% margin, compared to the 3.5%-5% offered by other soft drink makers, which has had a disruptive impact on the competitiveness of other brands.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/10/41445075/after-bankruptcy-in-us-wework-plans-ipo-for-indian-arm-at-over-2b-valuation-report" rel="noopener noreferrer" target="_blank">After Bankruptcy In US, WeWork Plans IPO For Indian Arm At Over $2B Valuation: Report</a>

Retail Sales

Coca-Cola, Pepsi May Launch Budget Drinks In India To Fend Off Competition From India's Richest Man's Soft Drink Company: Report

On Wednesday,&nbsp;Coca-Cola Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) reported a third-quarter 2024 sales decline of 1% year-on-year to $11.9 billion, beating the analyst consensus&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41486650/coca-cola-q3-earnings-eps-beat-pricing-growth-offset-by-volume-decline-sees-10-q4-organic-revenue-g" rel="noreferrer noopener">estimate of $11.59 billion</a>.
Unit case volume declined by 1%. Growth led by Brazil, the Philippines, and Japan was more than offset by declines in China, Mexico, and Turkey.
Goldman Sachs highlighted that despite somewhat tempered investor expectations for the third quarter —partly due to PepsiCo Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>) weaker-than-expected performance—Coca-Cola exceeded expectations again with strong results and an upbeat outlook.
Earlier this month, Pepsi&#8217;s reported mixed third-quarter&nbsp;results&nbsp;and lowered its 2024 <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41225048/pepsico-adjusts-2024-revenue-expectations-after-mixed-q3-performance-and-global-challenges" rel="noreferrer noopener">organic revenue guidance</a>.
The company reported a third-quarter net revenue decline of 0.6% year-over-year to $23.319 billion, with organic growth of 1.3%, falling short of the consensus estimate of $23.825 billion.
Coca-Cola forecasts 2024 organic revenue growth of approximately 10%, compared to prior guidance of 9%—10%.
The global beverage company expects to deliver adjusted EPS growth of 14% to 15% compared to prior <a href="https://www.benzinga.com/news/earnings/24/07/39904801/coca-colas-sweet-surge-q2-earnings-soar-raises-2024-forecasts" target="_blank" rel="noreferrer noopener">expectations of 13% to 15%</a>.
The analyst notes that Coca-Cola&#8217;s guidance is solid compared to its consumer packaged goods (CPG) peers, made even more impressive given that it&#8217;s following a couple of solid years.
Goldman Sachs believes Coca-Cola's guidance reflects strong consumer resilience and the company's solid performance despite a tough operating landscape. However, persistent foreign exchange challenges and slower reported dollar EPS growth this year—and likely next—could put short-term pressure on the stock.
&#8220;Bottom line &#8211; We remain impressed by KO's top-line momentum and execution in a very challenging environment, as it further positions itself well for healthy, sustainable, l.t. growth,&#8221; a Goldman Sachs analyst writes.
The analyst maintains a <a target="_blank" href="https://www.benzinga.com/quote/KO/analyst-ratings" rel="noreferrer noopener">Neutral rating on Coca-Cola</a>.
Price Action: KO stock is down 1.6% at $68.32 at last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/10/41493556/fda-approves-pfizers-respiratory-syncytial-virus-vaccine-abrysvo-for-adults-below-60-years" target="_blank" rel="noreferrer noopener">FDA Approves Pfizer&#8217;s Respiratory Syncytial Virus Vaccine Abrysvo For Adults Below 60 Years</a></li>
</ul>
Photo: Shutterstock

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Earnings

Guidance

Analyst Ratings

Movers

Trading Ideas

Coca-Cola Is Well-Positioned For Long-Term, Sustainable Growth, Says Goldman Sachs

Beverage giant Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) is set to report third-quarter financial results before the market opens <a href="https://www.benzinga.com/earnings">Wednesday, Oct. 23.</a>
Could the company's earnings highlight easing inflation and growth in international markets?
Earnings Estimates: Analysts expect Coca-Cola to report third-quarter revenue of $11.60 billion, compared to revenue of $11.95 billion in last year's third quarter, according to data <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102224&amp;t=be2bearmibe3na1">from Benzinga Pro. </a>
The company has beaten analyst revenue estimates in more than 10 straight quarters.
Analysts expect the company to report third-quarter earnings per share of 74 cents per share, in line with last year's third-quarter total of 74 cents. The company has beaten analyst estimates for earnings per share in eight of the past 10 quarters, meeting expectations in the other two quarters. Earnings beat analyst estimates in the past two straight quarters.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/41018384/coca-colas-efforts-to-entice-gen-z-fall-flat-spiced-discontinued-after-just-6-months">Coca Cola&#8217;s Efforts To Entice Gen Z Fall Flat: Spiced Discontinued After Just 6 Months</a>
Key Items to Watch: Coca-Cola's earnings report comes weeks after beverage rival PepsiCo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) reported third-quarter results with an earnings per share beat and revenue miss.
Pepsi is more diversified outside of beverages in snacks and food, which could make Coca-Cola's report interesting for the beverage sector after Pepsi<a href="https://www.benzinga.com/news/earnings/24/10/41225048/pepsico-adjusts-2024-revenue-expectations-after-mixed-q3-performance-and-global-challenges"> lowered full-year revenue guidance.</a>
Coca-Cola raised earnings per share guidance and revenue guidance after <a href="https://www.benzinga.com/news/earnings/24/07/39904801/coca-colas-sweet-surge-q2-earnings-soar-raises-2024-forecasts">second-quarter results</a>. Keeping guidance intact or raising it again could have Coca-Cola more preferentially viewed to its beverage rival.
Coca-Cola stock is up 16% year-to-date in 2024, outperforming Pepsi, which is up less than 1% in 2024, but both stocks lag the overall S&amp;P 500, which is up over 23% on the year.
Inflation concerns and weight-loss drugs leading to cutbacks on carbonated beverages are among the headwinds Coca-Cola and Pepsi faced. With inflation easing according to reports, commentary from the beverage company on consumer demand and trends could be key for how the stock reacts Wednesday after the report.
One of the keys to Coca-Cola's earnings strength in the second quarter was the Europe, Middle East and Africa region, which had organic revenue up 30%, compared to a 10% increase in North America. Analysts and investors will be looking to see continued strength from Coca-Cola in international markets.
Other items to watch in the report include the impact<a href="https://www.benzinga.com/general/social-media/24/08/40174736/trump-vp-pick-j-d-vance-criticized-simone-biles-in-2020-for-her-weakest-moments-being-celebr"> from a sponsorship</a> of the 2024 Summer Olympics and how new partnerships like one with Oreo are helping sales momentum.
KO Price Action: Coca-Cola stock is up 0.14% to $69.55 on Tuesday versus a 52-week trading range of $54.04 to $73.53.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41451110/how-to-earn-500-a-month-from-coca-cola-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Coca-Cola Stock Ahead Of Q3 Earnings</a></li>
</ul>
Photo: Shutterstock

Previews

Coca-Cola Q3 Earnings Preview: Can Beverage Giant Keep EPS, Revenue Beat Streaks Alive?

In a marked reversal, PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) says it will be adding more chips to some bags in a move designed to lure consumers who have grown <a href="https://www.benzinga.com/personal-finance/24/09/41027068/kevin-oleary-says-we-need-answers-not-kumbaya-politics-takes-aim-at-harris-for-offering-no-real-">tired of "shrinkflation." </a>
The Details: According to a CNN <a href="https://www.cnn.com/2024/10/16/business/tostitos-chips-shrinkflation-pepsi/index.html">report</a>, the largest snack manufacturer in the U.S. will fight back against the trend of smaller sizes at higher prices.&nbsp;
PepsiCo, which produces Lay's, Tostitos, Doritos and Ruffles brand snacks, will begin offering Tostitos and Ruffles "bonus" bags that contain 20% more chips for the same price as the standard size. The company will also be adding two additional chip bags to its 18-bag variety-pack option, the spokesperson told CNN. 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41340022/amazon-analyst-expects-q3-earnings-with-revenue-growth-margin-expansion-relative-st">Amazon Analyst Expects Q3 Earnings With Revenue Growth, Margin Expansion, Relative Stable E-Commerce Demand</a>
TD Cowen analyst Robert Moskow said Pepsi's competitors will likely follow suit and increase the size of their packaging. The TD Cowen analyst highlighted increasing snack prices which have grown 36% since 2020, outpacing a 21% increase in overall grocery prices. 
The average price of 16-ounce potato chips in September 2024 was $6.46, up from $5.02 in September 2020, <a href="https://fred.stlouisfed.org/series/APU0000718311">according to the Bureau of Labor Statistics.</a>
Pepsi&#8217;s Profits Shrink: Cash-strapped consumers have reacted to the higher prices by purchasing fewer snacks.&nbsp; PepsiCo's snack sales fell 1% <a href="https://www.benzinga.com/news/earnings/24/10/41225048/pepsico-adjusts-2024-revenue-expectations-after-mixed-q3-performance-and-global-challenges">last quarter</a>, snack volumes dropped 1.5% and the company's third-quarter revenue was more than $500 million below the Street's estimate, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.&nbsp;
Pepsi CEO Ramon Laguarta addressed the issue in the company's earnings call last week.&nbsp;
&#8220;The cumulative impacts of inflationary pressures and higher borrowing costs over the last few years have continued to impact consumer budgets and spending patterns,&#8221; Laguarta said.
PepsiCo is hoping to revive its snack food segment by providing more value to its customers in the form of more chips per bag.&nbsp;
PEP Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, PepsiCo shares ended Wednesday's session down 0.81% at $174.48. 
Read Also: 
<ul>
<li><a href="https://www.benzinga.com/government/24/10/41346351/cybersecurity-firm-warns-of-threats-to-2024-presidential-election-integrity">Cybersecurity Firm Warns Of Threats</a></li>
</ul>

Pepsi Fights Back Against Shrinkflation: Why Your Chip Bags Will Be Fuller In The Future

Financial giants have made a conspicuous bearish move on PepsiCo. Our analysis of options history for PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $166,071, and 4 were calls, valued at $434,375.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $155.0 to $200.0 for PepsiCo over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for PepsiCo's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across PepsiCo's significant trades, within a strike price range of $155.0 to $200.0, over the past month.
<h3>PepsiCo Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729105255_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$17.5</td>
<td>$16.95</td>
<td>$17.5</td>
<td>$170.00</td>
<td>$250.2K</td>
<td>233</td>
<td style="text-align: right;">143</td>
</tr>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$3.05</td>
<td>$2.86</td>
<td>$2.9</td>
<td>$200.00</td>
<td>$87.0K</td>
<td>88</td>
<td style="text-align: right;">407</td>
</tr>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.45</td>
<td>$5.4</td>
<td>$5.4</td>
<td>$175.00</td>
<td>$56.7K</td>
<td>3.6K</td>
<td style="text-align: right;">165</td>
</tr>
<tr>
<td>PEP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$8.15</td>
<td>$8.0</td>
<td>$8.15</td>
<td>$180.00</td>
<td>$50.5K</td>
<td>699</td>
<td style="text-align: right;">63</td>
</tr>
<tr>
<td>PEP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$8.65</td>
<td>$8.5</td>
<td>$8.55</td>
<td>$180.00</td>
<td>$42.7K</td>
<td>2.6K</td>
<td style="text-align: right;">50</td>
</tr>
</tbody>
</table>

<h3>About PepsiCo</h3>
PepsiCo is a global leader in snacks and beverages, owning well-known household brands including Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others. The company dominates the global savory snacks market and also ranks as the second-largest beverage provider in the world (behind Coca-Cola) with diversified exposure to carbonated soft drinks, or CSD, as well as water, sports, and energy drink offerings. Convenience foods account for approximately 55% of its total revenue, with beverages making up the rest. Pepsi owns the bulk of its manufacturing and distribution capacity in the US and overseas. International markets make up 40% of total sales and one third of operating profits.
Having examined the options trading patterns of PepsiCo, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is PepsiCo Standing Right Now?</h3>
<ul>
<li>With a trading volume of 2,108,414, the price of PEP is down by -1.07%, reaching $174.02.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 114 days from now.</li>
</ul>
<h3>What The Experts Say On PepsiCo</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $183.0.
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&#x2A; Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for PepsiCo, targeting a price of $183. 
&#x2A; Maintaining their stance, an analyst from Deutsche Bank continues to hold a Hold rating for PepsiCo, targeting a price of $179. 
&#x2A; Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on PepsiCo with a target price of $183. 
&#x2A; Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for PepsiCo, targeting a price of $185. 
&#x2A; Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Equal-Weight with a new price target of $185.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for PepsiCo, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

This Is What Whales Are Betting On PepsiCo

TD Cowen analyst Robert Moskow downgrades PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) from Buy to Hold and lowers the price target from $190 to $183.

Downgrades

Price Target

TD Cowen Downgrades PepsiCo to Hold, Lowers Price Target to $183

Barclays analyst Lauren Lieberman maintains PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) with a Overweight and lowers the price target from $186 to $183.

Barclays Maintains Overweight on PepsiCo, Lowers Price Target to $183

Kicking off this fall&rsquo;s consumer-oriented earnings reports, PepsiCo Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>) reported a mixed quarterly report as snacking in North America weakened.&nbsp;
<h3>Fiscal Third Quarter Highlights</h3>
The repercussions of the Quaker Foods North America recalls, softer U.S. demand and business disruptions in international markets dragged down sales that fell 0.6%&nbsp;&nbsp;to&nbsp;$23.32 billion, below LSEG&rsquo;s consensus estimate of&nbsp;$23.76 billion. But taking out&nbsp;acquisitions, divestitures and currency changes, organic revenue grew 1.3%.&nbsp;
Net income attributable to the company amounted to $2.93 billion, or $2.13 per share.&nbsp;Adjusted earnings per share amounted to&nbsp;$2.31, which topped LSEG&rsquo;s estimate of&nbsp;$2.29&nbsp;per share.
Slower than expected recovery of the U.S. consumer.&nbsp;
During the quarter, demand for Pepsi&rsquo;s snacks and drinks weakened. Volume for both the food and beverage divisions contracted by 2%.&nbsp;CFO Jamie Caulfield&nbsp;noted that consumer recovery in the U.S. was slower than anticipated, following CEO Ramon Laguarta&rsquo;s comment from July about a more challenged consumer as Pepsi executives observed changed consumer behavior across all income levels.&nbsp;Quaker Foods North America&nbsp;reported the biggest drop of 13%.
Frito-Lay North America also reported a volume decline of 1.5%. The division&rsquo;s volume is improving sequentially&nbsp;with Pepsi making efforts to offer more value to its consumers.
Volume for Pepsi&rsquo;s North American beverage business fell 3% although brands like Pepsi and Gatorade&nbsp;posted revenue&nbsp;growth in the quarter. Shrinking volume on both food and drink fronts was also the case for Latin America and Africa, Middle East and South Asia&nbsp;markets.
<h3>Outlook</h3>
For the second quarter in a row, PepsiCo lowered its full-year organic sales forecast as it guided for a low-single-digit growth of approximately 4%, down from its prior growth estimate of at least 4%.
Supported by the football season, Pepsi plans to invest more in Doritos and Tostitos over this fall and winter by offering bonus packs and therefore, more value to its consumers.
To appeal to more health-conscious consumers, Pepsi is also broadening its portfolio. Last week, Pepsi revealed it purchased Siete Foods for $1.2 billion, adding Mexican-American food with accommodations for different dietary concerns to its offerings.
All in all, the food and beverage giant surpassed Wall Street estimates with earnings but fell short on revenue, while lowering its full-year outlook for organic revenue. On a brighter note,&nbsp;consequences of the recalls are now diminishing.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

PepsiCo's Latest Report Shows Snacking Was Off The Table

JP Morgan analyst Andrea Teixeira maintains PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) with a Neutral and lowers the price target from $185 to $183.

JP Morgan Maintains Neutral on PepsiCo, Lowers Price Target to $183

Investors looking to enter PepsiCo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>) stock or build on existing positions should rejoice. The FQ3 2024 earnings report was weaker than expected, causing the stock price to dip. While weaker-than-expected results and a soft outlook for revenue aren&#39;t news to be happy about, the tally isn&#39;t as bad as headlines make it seem, and there is the long-term outlook to consider.&nbsp;
PepsiCo is the world&#39;s largest consumer staples company, impacted by internal and external one-offs that will soon pass. Until then, it is a solid, reliable dividend payer of Dividend King quality and will weather the current downturn in activity as it has done in the past, which is very well.
The critical details for investors to focus on today are the valuation and dividend yield. The stock, down from highs set in 2023, trades at roughly 20.5x its earnings outlook at the low end of the historical range. Likewise, the dividend distribution, which is expected to continue growing, yields about 3.25%, with shares near critical support levels and at the high end of the historical range. Investors that buy in at the current levels have limited risk and potential for a 50% share price increase at the high-end valuation range. There can be no better time to enter a blue chip stock such as this regarding long-term investing, portfolio maximization, total returns, and dollar-cost averaging.
<h2>PepsiCo&#39;s Soft Q3 Is No Concern for Long-Term Investors</h2>
PepsiCo had a softer-than-expected Q3, but each negative was offset by a positive, leaving shareholder value improved and the long-term outlook unchanged. The $23.32 billion in net revenue is down -0.6% compared to last year and missed the consensus by 200 bps, but organic growth is present, and the margin is good. Organically, core operations are up 1.3%.&nbsp;
Segmentally, Quaker North America was the weakest, with a contraction of 13%. However, the weakness is primarily due to the recalls in Q1 and the subsequent shuttering of a plant believed to be the source of contamination. Weakness was also seen in Frito Lay North America, but the 1% contraction is less of a concern and offset by organic growth in PepsiCo North America, Latin America, and Europe. Asia-Pacific (APAC) is the weakest regionally, with a contraction of -1%, impacted by rising geopolitical tensions.
PepsiCo experienced margin contraction in Q3, but aggressive cost controls and increased efficiencies produced a better-than-expected result.&nbsp; The takeaway is that adjusted earnings grew compared to last year and outpaced the consensus target and organic revenue growth. Because cost controls and investment in operational efficiencies are part of the equation, investors can expect a leverage rebound in earnings when top-line growth resumes, likely to be sometime in F2025.&nbsp;
Guidance is also mixed, with the revenue target reduced but organic EPS growth targets reaffirmed. The salient detail is that operational improvements are expected to stick, providing sufficient cash flow to sustain the fortress balance sheet while returning capital to investors and investing in the business. Regarding the balance sheet, the company produced positive cash flow operationally but negative cash flow for the business. However, that detail is offset by the timing of debt issuance and repayment, increased assets, decreased liability, and a 5% improvement in shareholder equity.&nbsp;
<h2>PepsiCo Capital Returns Help Support the Price Action over Time</h2>
PepsiCo&#39;s capital return is reliably safe and growing. The company&#39;s dividend distribution is up 7% per share compared to 2023, aided by repurchases. The repurchase activity is up incrementally compared to last year, and the count was reduced by 0.35% for the quarter and YTD periods. Investors may expect to see distribution increases slow in 2025 but not cease; share repurchases are also likely to continue at the current pace.&nbsp;
The price action in PepsiCo stock was tepid following the release, leaving the stock price down in early trading. However, the market is trading near a floor at $160, where support has been strong and is likely to produce a rebound. The $160 floor coincides with a significant uptrend line in 2024, so the rebound could be strong and result in a sustained uptrend in 2024.&nbsp;
Among the catalysts for 2025 are a return to top-line growth, leveraged results on the bottom line, and the possibility that growth will exceed the current forecasts because of the addition of Siete Foods. Siete Foods is a Mexican-American food brand growing above the industry&#39;s 4% CAGR, providing inroads into a new product vertical worth billions in annual revenue while complementing PepsiCo&#39;s better-for-you food offerings.&nbsp;
<img alt="PepsiCo PEP stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20241008081101_chart-pep-1082024.png" style="height:423px; width:917px" />
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/this-is-the-entry-into-pepsico-youve-been-waiting-for/">This Is the Entry Into PepsiCo You&#39;ve Been Waiting For</a>&quot; first appeared on MarketBeat.

Large Cap

Dividends

Technicals

Offerings

Contracts

This Is the Entry Into PepsiCo You've Been Waiting For

Deutsche Bank analyst Steve Powers maintains PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) with a Hold and lowers the price target from $180 to $179.

Deutsche Bank Maintains Hold on PepsiCo, Lowers Price Target to $179

PepsiCo's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>) short percent of float has fallen 3.68% since its last report. The company recently reported that it has 18.00 million shares sold short, which is 1.31% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.56 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>PepsiCo Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728489619_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for PepsiCo has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing PepsiCo's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, PepsiCo's peer group average for short interest as a percentage of float is 7.27%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About PepsiCo?

RBC Capital analyst Nik Modi reiterates PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) with a Sector Perform and maintains $176 price target.

Reiteration

RBC Capital Reiterates Sector Perform on PepsiCo, Maintains $176 Price Target

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said he likes Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) right here. &#8220;I'm going to buy some Target at this price and then wait another five points and <a href="https://www.benzinga.com/markets/equities/24/09/40936354/target-hires-pepsico-veteran-jim-lee-as-finance-chief">buy more,&#8221; he noted.</a>
On Sept. 19, Target tapped PepsiCo, Inc‘s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) Jim Lee as its CFO and a member of its leadership team, which became effective Sept. 22. Lee brings over 25 years of experience in finance, strategy and more at PepsiCo. He takes over from COO Michael Fiddelke. Lee has served on multiple boards during his PepsiCo career, including Tropicana Brands Group and Celsius Holdings.
Cramer said to give him a call when Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) starts making a lot of money.
On Sept. 17, Macquarie analyst Tim Nollen maintained Unity Software with an Underperform rating and raised the price target from $12 to $15.
&#8220;I think at these levels you want to buy the stock of Merck (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>),&#8221; the &#8220;Mad Money&#8221; host said.
On Tuesday, Merck announced that the Phase 3 KEYNOTE-689 trial of Keytruda (pembrolizumab), as a perioperative treatment for patients newly diagnosed with stage III or IVA, resected, locally advanced head and neck squamous cell carcinoma met its primary endpoint of event-<a href="https://www.benzinga.com/general/health-care/24/10/41230591/merck-touts-phase-3-success-for-20b-cancer-drug-keytruda-in-untreated-head-and-neck-cancer-pa">free survival (EFS)</a>.
When asked about Alumis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALMS#NASDAQ">ALMS</a>), he said, &#8220;That is a really, incredibly speculative situation. As long as you know it's speculative, and you could lose everything on that one, go ahead. It's not my cup of tea.&#8221;
On Sept. 27, the company presented the 28-week open-label extension period data from its Phase 2 STRIDE trial of ESK-001.
SoundHound AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) is a &#8220;meme stock, it loses money,&#8221; Cramer said.
On Sept. 30, DA Davidson analyst Gil Luria maintained SoundHound AI with a Buy and a $9.50 price target.
Price Action:
<ul>
<li>Unity Software shares fell 0.1% to settle at $21.19 on Tuesday.</li>
<li>Alumis shares declined 0.3% to close at $10.32.</li>
<li>Target shares gained 1.6% to close at $151.32 during the session.</li>
<li>SoundHound shares slipped 1.3% to close at $4.68 during Tuesday's session.</li>
<li>Merck shares fell 0.1% to close at $108.52 on Tuesday.</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/24/10/41238686/jim-cramer-ast-spacemobile-is-just-too-hot-recommends-buying-this-tech-stock">Jim Cramer: AST SpaceMobile Is &#8216;Just Too Hot,&#8217; Recommends Buying This Tech Stock</a></li>
</ul>
Photo: s_bukley/Shutterstock.com

Long Ideas

Media

ALMS

SOUN

Jim Cramer Says He's Buying 'Some Target,' But Dismisses SoundHound AI As 'Meme Stock'

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Tuesday.
U.S. stocks settled higher on Tuesday, with the S&amp;P 500 gaining around 1% during the session. Technology stocks recorded gains on Tuesday, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) adding 4% and 3% respectively, during the session.
PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) <a href="https://www.benzinga.com/news/earnings/24/10/41225048/pepsico-adjusts-2024-revenue-expectations-after-mixed-q3-performance-and-global-challenges">reported</a> mixed third-quarter results and lowered its 2024 organic revenue guidance.
On the economic data front, the NFIB Small Business Optimism Index rose to 91.5 in September compared to 91.2 in August, and down from market estimates of 91.7. The trade deficit in the U.S. shrank to $70.4 billion in August, recording the lowest level in five months, compared to a revised $78.9 billion gap in July and versus market estimates of a $70.6 billion shortfall.
Most sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, information technology, and communication services stocks recording the biggest gains on Tuesday. However, energy and materials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 126 points to 42,080.37 on Tuesday. The S&amp;P 500 rose 0.97% to 5,751.13, while the Nasdaq Composite climbed 1.45% at 18,182.92 during Tuesday's session.
Investors are awaiting earnings results from Helen of Troy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>), E2open Parent Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETWO#NYSE">ETWO</a>), and AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 71.9, the index remained in the &#8220;Greed&#8221; zone on Tuesday, versus a prior reading of 69.4.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/24/10/41238686/jim-cramer-ast-spacemobile-is-just-too-hot-recommends-buying-this-tech-stock">Jim Cramer: AST SpaceMobile Is &#8216;Just Too Hot,&#8217; Recommends Buying This Tech Stock</a></li>
</ul>
Photo courtesy: Shutterstock

Pre-Market Outlook

AVGO

ETWO

HELE

NVDA

S&P Gains 1% As Nvidia, Broadcom Shares Surge: Investor Optimism Improves, Fear Index Remains In 'Greed' Zone

After starting the week with a negative session, U.S. markets rebounded on Tuesday, driven by falling oil prices, which helped alleviate concerns about a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41234471/september-inflation-preview-traders-brace-for-market-jitters-as-crucial-report-loom">potential resurgence in inflation.</a>
Crude oil dropped as much as 5% on the day, weighed down by China&#8217;s lack of additional fiscal stimulus and a de-escalation in geopolitical tensions between Israel and Iran.
At the same time, Treasury yields paused their recent climb, offering further relief to investors.
Optimism surrounding the upcoming earnings season also buoyed traders, leading to renewed buying in tech stocks and key AI-linked companies. The S&amp;P 500 gained 0.8%, the Nasdaq 100 rallied 1.3% on the back of semiconductor strength, while the Russell 2000 posted a more modest 0.4% rise.
The Magnificent Seven stocks—Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)—were all in the green, collectively adding around $250 billion in market capitalization and inching closer to a combined market value of $16 trillion.
Meanwhile, the CBOE Volatility Index (VIX), often referred to as Wall Street&#8217;s &#8220;fear gauge,&#8221; fell 6%, reversing a sharp 17% spike from Monday.
Commodity markets weren&#8217;t spared from the broader Chinese-led sell-off, with metal prices taking a hit. Gold dropped 1.2%, while silver plunged over 4%, both reacting to China&#8217;s underwhelming stimulus news.
In the crypto space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 0.5%, trading at $62,479.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,051.16</td>
<td>1.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,742.69</td>
<td>0.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,201.50</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,017.06</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;edged 0.7% higher to $571.68.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% up to $420.10.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 1.2% to $487.35.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.3% to $218.07.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1.6%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 2.9%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) rallied 5% after Goldman Sachs raised its price target from $376 to $425.</li>
<li>Lower oil prices triggered rallies in cruise lines and airlines. Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) rose 4.5%, Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) gained 3.8%, American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) climbed 3.7%, and Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) added 2.8%.</li>
<li>The energy and materials stocks that fell the most on Tuesday included Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), down 7.8%, Freeport McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), down 5.2%, and Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>), down 4.9%.</li>
<li>Docusign Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NYSE">DOCU</a>) rallied 8.3% after it was announced that it would join the S&amp;P MidCap 400.</li>
<li>PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) rose 0.6% in reaction to its quarterly earnings. </li>
</ul>
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Stocks Rally As Oil Prices Tumble; Tech, Chipmakers Lead As Traders Focus On AI Winners Before Earnings Season: What's Driving Markets Tuesday?

BofA Securities analyst Bryan D. Spillane expresses views on PepsiCo, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) mixed third-quarter <a target="_blank" href="https://www.benzinga.com/quote/PEP/analyst-ratings" rel="noreferrer noopener">results reported on Tuesday</a>.
Today, the company reported adjusted EPS of $2.31, which&nbsp;beat the consensus estimate of $2.29, while revenue of $23.319 billion missed <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41225048/pepsico-adjusts-2024-revenue-expectations-after-mixed-q3-performance-and-global-challenges" rel="noreferrer noopener">the consensus estimate of $23.825 billion</a>.
For 2024, PepsiCo expects a low-single-digit increase in organic revenue (previously ~4%) and continues to expect at least an 8% increase in&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">core constant currency EPS.</a>
PepsiCo's assumption and guidance imply that 2024 adjusted EPS of at least $8.15 (consensus $8.15) will be a 7% increase year over year.
Spillane notes that the second half of the year typically accounts for over half of total revenue, and the guidance suggests organic growth of -1% to +3% in the fourth quarter.
The analyst writes that PEP is likely relying on higher productivity than initially planned to maintain its reiterated EPS, despite lowering its organic sales guidance.
However, the volume performance in the third quarter indicates a possible need for additional support next year, adds the analyst.
The analyst writes that with remedial actions addressing volume weakness now in place, he expects the stock to perform well if market share improves.
The analyst says that PEP&#8217;s premium valuation of 20x over non-alcoholic beverage peers is justified by its strengthened position and pricing power amid ongoing inflationary pressures.
The analyst maintains the <a href="https://www.benzinga.com/quote/PEP/analyst-ratings" target="_blank" rel="noreferrer noopener">Buy rating and $185 price target.</a>
Investors can gain exposure to the stock via&nbsp;iShares U.S. Consumer Staples ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYK#NYSE">IYK</a>) and First Trust Nasdaq Food &amp; Beverage ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXG#NASDAQ">FTXG</a>).
Price Action: PEP shares are up 0.89% at $168.69 at the last check Tuesday.
Image via Shutterstock
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The food industry typically thrives despite economic uncertainties due to stable demand for food products, and recent advancements in technology and automation present long-term investment opportunities for investors. Hence, it might be an ideal time to scoop up fundamentally solid food and beverage stocks PepsiCo, Coca-Cola Consolidated, and WH Group, which also offer steady growth and dividends. Read more... The U.S. food and beverage industry is not just stable, it's also experiencing significant growth, driven by health trends and demand for convenience, particularly for organic options and technological advancements. As consumer preferences shift, this is an ideal time to consider quality food and beverage stocks: PepsiCo, Inc. (<a href="https://stocknews.com/stock/PEP/">PEP</a>), Coca-Cola Consolidated, Inc. (<a href="https://stocknews.com/stock/COKE/">COKE</a>), and WH Group Limited (<a href="https://stocknews.com/stock/WHGLY/">WHGLY</a>), which offer steady growth and the potential for significant expansion.
The U.S. food and beverage industry is evolving due to health and wellness concerns, driving demand for organic, plant-based, and functional foods with clean labels, low sugar, and added nutrients. Technological advancements, including plant-based proteins and e-commerce, are transforming product development and distribution. Additionally, rising disposable income and shifting consumer preferences, particularly among younger demographics, are increasing interest in convenient options like ready-to-eat meals and meal kits.
Recently, sectors like ready-to-drink beverages, plant-based alternatives, and functional drinks have been experiencing significant growth, fueling innovation and competition. The food and beverages market is projected to grow to $8.82 trillion by 2028, with a <a href="https://www.thebusinessresearchcompany.com/report/food-and-beverages-global-market-report#:~:text=The%20food%20and%20beverages%20market%20size%20has%20grown,a%20compound%20annual%20growth%20rate%20%28CAGR%29%20of%206.4%25.">CAGR of 5.9%</a>.
Furthermore, the meal ordering process is becoming increasingly convenient through mobile apps and user-friendly interfaces, while AI and machine learning enhance efficiency by optimizing delivery routes, forecasting demand, and personalizing recommendations. Innovations like contactless deliveries and drone usage are further improving safety and efficiency.
IMARC Group expects the United States online food delivery market to hit around $68.60 billion by 2032, exhibiting a <a href="https://www.imarcgroup.com/united-states-online-food-delivery-market">CAGR of 9.8%</a>.
Considering the industry's strong prospects, it may be prudent to invest in fundamentally sound food and beverage stocks like PEP, COKE, and WHGLY.
PepsiCo, Inc. (<a href="https://stocknews.com/stock/PEP/">PEP</a>)
PEP operates globally through its manufacturing, distribution, marketing and the sale of different beverages as well as food. There are seven segments through which the company operates, namely, Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.
On October 1st, the company announced that it had completed the acquisition of Garza Food Ventures LLC dba Seite Foods, a popular Mexican-American food brand, at $1.20 billion. This agreement is being carried forward to increase the company's product portfolio with authentic Mexican-American brands, making it a multicultural portfolio.
Moreover, on September 30, PEP paid a quarterly dividend of $1.355 per share, a 7% rise year-over-year. It pays an annual dividend of $5.42, which translates to a <a href="https://www.investopedia.com/terms/d/dividendyield.asp">dividend yield</a> of 3.16% at the prevailing price levels. It has consistently increased its dividend payments for the past 51 years.
During the fiscal third quarter that ended September 7, 2024, PEP's total net revenue was $ 23.32 billion. Its operating profit is $3.87 billion. In addition, the company's non-GAAP net income attributable to PEP came in at $3.19 billion or $2.31 per share, up 2.6% and 2.7% from the prior year's period, respectively.
Analysts expect PEP's EPS and revenue for the quarter ending December 31, 2024, to increase to 9.4% and marginally year-over-year to $1.95 and $27.98 billion, respectively. It surpassed the Street EPS estimates in each of the trailing four quarters, which is impressive.
Over the past year, the stock has gained 5.8% to close the last trading session at $171.79. It soared 1.2% year-to-date.
PEP's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
PEP has an A grade in Quality and a B grade in Growth. It is ranked #12 out of 33 stocks in the B-rated <a href="https://stocknews.com/category/beverages/">Beverages</a> Industry.
Beyond what we have stated above, we also have given PEP grades for Sentiment, Momentum, Value, and Stability. Get all the PEP's ratings <a href="https://stocknews.com/stock/PEP/ratings/">here</a>.
Coca-Cola Consolidated, Inc. (<a href="https://stocknews.com/stock/COKE/">COKE</a>)
COKE is reputed for producing, distributing, and advertising non-alcoholic beverages. It distributes its products directly to grocery stores and mass merchandise retail.
On September 17, COKE entered into an agreement with BACARDÍ rum to debut its ready-to-drink (RTD) pre-mixed cocktail. The intent behind this agreement is to reach out to a wider consumer base through this collaboration.
On August 20, COKE announced a significant hike in its quarterly dividend, raising it from $0.50 to $2.50 per share. This enhanced dividend will be distributed on November 8, 2024.
Currently, COKE pays an annual dividend of $26, equating to a yield of 2.08% based on the current share price, well above its four-year average dividend yield of 0.66%. Additionally, the company's dividend payouts have grown at a compound annual growth rate of 58.7% over the past three years.
During the second quarter ended June 28, COKE's net sales rose 3.3% year-over-year to $1.80 billion. Its gross profit grew 6.7% from the prior-year quarter to $716.70 million, and adjusted net income improved 11.8% year-over-year to $192.80 million.
The stock climbed 34.5% year-to-date and has surged 94.4% over the past year to close the last trading session at $1,248.85.
COKE's POWR Rating reflects strong prospects. The stock has an overall rating of B, translating to a Buy in our proprietary rating system.
It has a B for Quality and Sentiment. It is ranked #6 out of 33 stocks in the Beverage industry.
To access COKE's Growth, Value, Stability, and Momentum ratings, click <a href="https://stocknews.com/stock/COKE/ratings/">here</a>.
WH Group Limited (<a href="https://stocknews.com/stock/WHGLY/">WHGLY</a>)
Headquartered in Hong Kong, WHGLY is an investment holding company that is reputed for the production, trade, wholesale as well as retail of meat products in China, the United States, Mexico, and Europe.
WHGLY pays an annual dividend of $0.89, which translates to a yield of 5.58% at the current share price, higher than its four-year average dividend yield of 4.75%. Moreover, the company's dividend payouts have increased at a CAGR of 25.7% over the past three years.
During the six months ended June 30, 2024, WHGLY reported a revenue of $12.29 billion. Its operating profit and profit attributable to owners of the company rose 78.4% and 81.2% year over year to $1.14 billion and $694 million.
The stock climbed 24.1% year-to-date and has returned 43.3% over the past year to close the last trading session at $16.02.
WHGLY's bright prospects are apparent in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It has an A in Value and a B grade for Growth and Stability. Within the 74 stocks in the B-rated <a href="https://stocknews.com/category/food-makers/">Food Makers</a> industry, it is ranked #3.
Click <a href="https://stocknews.com/stock/WHGLY/ratings/">here</a> to see WHGLY's ratings for Sentiment, Quality, and Momentum.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
PEP shares were trading at $169.95 per share on Monday afternoon, down $1.84 (-1.07%). Year-to-date, PEP has gained 2.40%, versus a 23.41% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/pep-coke-whgly-3-food-and-beverage-stocks-offering-steady-growth-and-dividend/>3 Food and Beverage Stocks Offering Steady Growth and Dividend</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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