PepsiCo stock slips into Presidents Day break as buyback plan meets rate jitters
PepsiCo shares closed down 0.8% at $165.94 Friday, despite Wall Street gains after softer U.S. inflation data. The company plans to cut U.S. snack prices by up to 15% following consumer pushback, and raised its annualized dividend to $5.92 a share. PepsiCo’s board declared a $1.4225 quarterly dividend, payable March 31. NYSE markets will be closed Monday for Washington’s Birthday.