With a market cap of $191.6 billion, PepsiCo, Inc. (PEP) is a global leader in the manufacture, marketing, distribution, and sale of convenient foods and beverages. With iconic brands such as Lay’s, Doritos, Gatorade, Pepsi-Cola, Quaker, and Tropicana, the company operates across seven business segments and serves customers worldwide through diverse distribution channels. The Purchase, New York-based company is expected to announce its fiscal Q3 2025 results before the market opens on Thursday, Oct. 9. Ah ...

PepsiCo, Inc. (NASDAQ: PEP) shares are trading slightly higher on Friday.The global leader in snacks and beverages remains a “defensive” play in a U.S. slowdown, though less so than in past recessions, given stretched Frito-Lay pricing.See how PEP stock is doing here.BofA Securities analyst Peter T. Galbo reiterated the Neutral rating on the stock, with a price forecast of $150.Galbo still sees the company positioned to deliver steady shareholder returns by balancing growth with dividends and share repurcha ...

PepsiCo, Inc. (NASDAQ: PEP) shares are trading slightly higher on Friday.The global leader in snacks and beverages remains a “defensive” play in a U.S. slowdown, though less so than in past recessions, given stretched Frito-Lay pricing.See how PEP stock is doing here.BofA Securities analyst Peter T. Galbo reiterated the Neutral rating on the stock, with a price forecast of $150.Galbo still sees the company positioned to deliver steady shareholder returns by balancing growth with dividends and share repurcha ...

By Jessica DiNapoli and Svea Herbst-Bayliss NEW YORK (Reuters) -Some investors in PepsiCo (PEP) support suggestions by activist shareholder Elliott Investment Management that the global food and beverage company cut costs and ditch sleepy brands like Quaker, but sound more cautious about the hedge fund's boldest idea - to hive off the soda maker's bottling network. Elliott has said the move, which mirrors actions taken by Coca-Cola (KO) nearly a decade ago, would increase PepsiCo's margins, allow the $20 ...

This company has long been a dividend powerhouse.There are lots of reasons to like PepsiCo (PEP 0.77%) as a possible investment for your long-term portfolio. One of the best reasons is its generous dividend yield -- recently at 4.1%. That yield is far above the S&P 500's recent yield of just 1.2%, and better still, it's a payout that's been growing at a good clip -- an annual average of more than 7% over the past decade.But wait -- there's more! Its payout ratio -- the percentage of earnings paid out in div ...

Accessibility StatementSkip Navigation PURCHASE, N.Y., Sept. 18, 2025 /PRNewswire/ -- Today, leading retail and global food and beverage companies including PepsiCo (NASDAQ: PEP) and Unilever announce the launch of Supporting Trusted Engagement and Partnership (STEP) up for Agriculture (STEP up for Ag), a pre-competitive initiative designed to strengthen the capacity and sustainability of farmer-facing support organizations across North America.  Continue Reading Supporting Trusted Engagement & Partnershi ...

Elliott Investment Management says it manages funds that together hold an investment of $4 billion in PepsiCo. The investor calls the Pepsi Max and Lay’s owner “one of the world's great consumer franchises” but it wants to see significant change.The companies at which Elliott Investment Management has pushed for change include BP (which said it would scale back investment in renewable energy and up spending on oil and gas in the wake of the investor joining its share roster), US manufacturing and tech group ...

Key Takeaways PepsiCo leverages food and beverage innovation, global scale and operational integration.Monster Beverage drives growth with new Ultra flavors, global expansion and bold branding.PEP trades at a lower forward P/E than MNST, highlighting value versus premium growth pricing.The beverage industry is brimming with competition, but a few rivalries are as compelling as PepsiCo, Inc. (PEP) versus Monster Beverage Corporation (MNST) . On one side stands PepsiCo, a global titan with a sprawling portfol ...

公司业务与品牌组合 - 百事公司是全球最大的消费品包装公司之一 拥有包括乐事(Lay's)、多力多滋(Doritos)、奇多(Cheetos)、佳得乐(Gatorade)、百事可乐(Pepsi-Cola)、激浪(Mountain Dew)、桂格(Quaker)和SodaStream在内的标志性品牌组合 [1] - 公司业务分为七大区域部门：FLNA(菲多利北美)、QFNA(桂格食品北美)、PBNA(百事饮料北美)、拉丁美洲、欧洲、AMESA(非洲/中东/南亚)和APAC(亚太/澳新/大中华区) [1] - FLNA部门生产销售品牌休闲食品包括薯片、玉米片和调味酱 QFNA部门生产麦片、燕麦和格兰诺拉棒 PBNA部门生产销售饮料浓缩液和糖浆包括Aquafina、Bubly和Diet Pepsi等品牌 [1] 股权结构与投资者背景 - 埃利奥特投资管理公司(Elliott Investment Management)持有百事公司约1.9%的股份 管理资产规模达761亿美元(截至2025年6月30日) [2] - 该投资公司以深入的尽职调查和丰富资源著称 经常持续数年跟踪公司后才进行投资 是跨行业跨地域最活跃的激进投资者之一 [2] 战略问题与业绩表现 - 百事北美业务收入占比60% 国际业务占40% 其中PFNA(食品北美)和PBNA(饮料北美)各占公司总收入的30% [5] - 过去三年公司市值损失近400亿美元 过去20年表现落后标普消费必需品指数169个百分点 [5] - PBNA运营利润率较可口可乐低1000个基点(原领先300个基点) 主要因2010年后保持垂直整合的瓶装业务决策失误 [6][7] - PBNA产品库存单位(SKU)数量比可口可乐多70% 但零售销售额低15% 因过度扩展至Starry、Rockstar和SodaStream等弱势品牌 [9] - PFNA的资本支出从2018年33亿美元增至2024年53亿美元 但FLNA销售额反而收缩0.5% 运营利润率从30%降至25% [11][12] 埃利奥特的改革建议 - 建议PBNA重新特许经营瓶装网络 回归1999-2010年期间曾超越可口可乐的运营模式 [14] - 要求优化产品组合 减少SKU数量并剥离表现不佳品牌 参考近期将Rockstar出售给Celsius的交易案例 [15] - 释放资金应重新投资核心苏打水品牌及新增长类别(如蛋白质和益生菌) [16] - 建议PFNA停止激进增长战略 重新调整成本结构并优化组合 特别指出桂格(Quaker)作为潜在剥离对象 [17] - 该计划若有效实施 预计可为股东提供至少50%的上涨空间 [18] 国际业务与估值状况 - 国际业务增长迅速且利润率扩大 但被北美业务问题掩盖 当前市盈率18倍低于十年平均22倍 [13] - 相对基准指数的折价从历史溢价1.4倍转为折价4倍以上 [13] 长期价值创造理念 - 埃利奥特在74页演示文件中54次提及"再投资" 但未使用"回购"一词 强调长期增长而非短期股价提升 [21] - 建议通过"调整成本结构和剥离非核心资产"来释放资本 用于有机和无机投资推动长期增长 [20][21]

估值水平 - 公司前推12个月市盈率达17.93倍 超过行业平均的17.75倍[2] - 市销率2.14倍显著低于行业平均的4.36倍[2] - 估值低于可口可乐(21.96倍)和怪兽饮料(30.23倍) 但高于Keurig Dr Pepper(13.63倍)[3] 股价表现 - 近三个月股价上涨12.8% 同期行业下跌3% 标普500上涨9.1%[5] - 显著跑赢可口可乐(-3.1%)、怪兽饮料(-2.5%)和Keurig Dr Pepper(-11.4%)等竞争对手[5] - 当前股价148.65美元较52周高点低17.3% 较52周低点高16.5%[9] 运营表现 - 2025年第二季度有机收入增长加速 受国际扩张和零食销量增长驱动[12] - 连续17个季度实现中个位数国际有机收入增长[12] - 零糖百事和新口味创新获得市场份额 营销活动提升品牌参与度[12] 战略举措 - 通过"一个北美"计划强化食品与饮料业务协同效应[15] - 自动化、数字化和数据分析提升生产效率[15] - 扩展零糖、功能型饮水和健康零食产品组合[16] - 渠道多元化包括扩大与赛百味合作 收购益生菌苏打品牌poppi[16] 财务预期 - 2025年每股收益预期上调0.01美元 显示分析师信心增强[18] - 2025年预计收入增长1.3% 每股收益下降1.8%[19] - 2026年预计收入和每股收益分别增长3.2%和5.2%[19] 投资前景 - 公司具备国际增长、北美业务复苏和创新产品组合等成功要素[22] - 估值溢价反映投资者信心提升 当前获Zacks二级买入评级[23] - 持续增长能力和全球机会捕捉能力支撑股价上行趋势[23]