PepsiCo (PEP)

• Market cap: $210B
• 1 day: 0.87%
• 5 days: -3.21%
• 1 month: -3.75%
• 3 months: -10.74%
• 6 months: -8.33%
• Year to date: -11.64%
• 1 year: -7.79%
• 5 years: 10.78%
• 10 years: 58.13%
• 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)

9% more first-time investments, than exits

New positions opened: 187 | Existing positions closed: 172

3% more call options, than puts

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

0% more funds holding

Funds holding: 3,258 [Q2] → 3,273 (+15) [Q3]

2% less capital invested

Capital invested by funds: $172B [Q2] → $170B (-$2.61B) [Q3]

6% less repeat investments, than reductions

Existing positions increased: 1,314 | Existing positions reduced: 1,405

3.14% less ownership

Funds ownership: 75.61% [Q2] → 72.47% (-3.14%) [Q3]

17% less funds holding in top 10

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

Research analyst outlook

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

• Low target: $176 15% upside
• Avg. target: $182 19% upside
• High target: $185 21% upside

6 analyst ratings

• positive: 3 50%
• neutral: 3 50%
• negative: 0 0%

Deutsche Bank Steve Powers 63% 1-year accuracy 12 / 19 met price target	20% upside $184	Buy Upgraded	12 Dec 2024
TD Cowen Robert Moskow 46% 1-year accuracy 21 / 46 met price target	20% upside $183	Hold Downgraded	10 Oct 2024
Barclays Lauren Lieberman 46% 1-year accuracy 41 / 90 met price target	20% upside $183	Overweight Maintained	10 Oct 2024
JP Morgan Andrea Teixeira 45% 1-year accuracy 24 / 53 met price target	20% upside $183	Neutral Maintained	9 Oct 2024
RBC Capital Nik Modi 31% 1-year accuracy 11 / 36 met price target	15% upside $176	Sector Perform Reiterated	9 Oct 2024