We currently reiterate our Neutral recommendation on PepsiCo. (PEP).
New York-based PepsiCo’s core earnings advanced to $1.22 per share in the quarter from $1.09 registered in the year-ago period, in-line with the Zacks Consensus Estimate. The year-over-year growth reflects the acquisition of its two anchor bottlers, broad-based gains across its snack and beverage portfolio in key international markets, disciplined investments and prudent cost controls.The quarterly total sales jumped 40% to $15.5 billion in the quarter from $11.1 billion in prior-year quarter, demonstrating strong growth across its business.
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