PepsiCo (PEP) Stock: Q3 Earnings Surprise, “Ozempic Effect” Fears & Activist Investor Shake-Up – What’s Next?
PepsiCo shares trade near $139, down 6% in a month and 22% below last year’s high. Q3 revenue rose 2.6% to $23.94 billion, topping estimates, but North American snack and beverage volumes fell. Elliott Management disclosed a $4 billion stake, urging changes. Steve Schmitt was named CFO on Oct. 9, replacing retiring Hugh Johnston.