PepsiCo (PEP)

• Market cap: $218B
• 1 day: -3.95%
• 5 days: -3.52%
• 1 month: -9.82%
• 3 months: -8.06%
• 6 months: -11.61%
• Year to date: -8.26%
• 1 year: -5.16%
• 5 years: 18.54%
• 10 years: 61.17%
• Sector: Consumer Staples
• Industry: Beverages

About: 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.

Employees: 318,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

3% more call options, than puts

Call options by funds: $2.08B | Put options by funds: $2.01B

2% less capital invested

Capital invested by funds: $173B [Q2] → $169B (-$3.19B) [Q3]

6% less repeat investments, than reductions

Existing positions increased: 1,294 | Existing positions reduced: 1,374

1% less funds holding

Funds holding: 3,252 [Q2] → 3,211 (-41) [Q3]

3.41% less ownership

Funds ownership: 75.66% [Q2] → 72.25% (-3.41%) [Q3]

17% less funds holding in top 10

Funds holding in top 10: 87 [Q2] → 72 (-15) [Q3]

18% less first-time investments, than exits

New positions opened: 181 | Existing positions closed: 222

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $176 11% upside
• Avg. target: $182 15% upside
• High target: $186 17% upside

10 analyst ratings

• positive: 3 30%
• neutral: 7 70%
• negative: 0 0%

TD Cowen Robert Moskow 42% 1-year accuracy 10 / 24 met price target	15% upside $183	Hold Downgraded	10 Oct 2024
Barclays Lauren Lieberman 41% 1-year accuracy 36 / 87 met price target	15% upside $183	Overweight Maintained	10 Oct 2024
JP Morgan Andrea Teixeira 46% 1-year accuracy 26 / 56 met price target	15% upside $183	Neutral Maintained	9 Oct 2024
Deutsche Bank Steve Powers 67% 1-year accuracy 10 / 15 met price target	13% upside $179	Hold Maintained	9 Oct 2024
RBC Capital Nik Modi 40% 1-year accuracy 17 / 42 met price target	11% upside $176	Sector Perform Reiterated	9 Oct 2024