NEW YORK, Dec. 28, 2025, 11:51 a.m. ET — Market closed
PepsiCo, Inc. (NASDAQ: PEP) stock is off the tape today with U.S. equities closed for the weekend, leaving investors to digest a quiet stretch of company-specific headlines and a bigger, ongoing narrative: PepsiCo’s 2026 turnaround blueprint and the execution milestones that could reset sentiment into the new year.
Shares last closed Friday, Dec. 26 at $143.78, essentially flat on the day, with extended-hours trading showing a small dip to around $143.72 late Friday evening. [1]
Where PepsiCo stock stands heading into Monday
With the market shut, the key reference points for PepsiCo stock are still Friday’s close and the recent trading range. The stock is trading well below its 52-week high and above its 52-week low, underscoring why Wall Street’s tone has been cautious but not outright bearish on the consumer-staples giant. [2]
PepsiCo’s appeal in this environment is its “defensive” profile—steady demand, global scale, and a meaningful dividend—balanced against macro headwinds that have pressured many food and beverage names (input costs, consumer trade-down behavior, and shifting preferences toward “better-for-you” products). [3]
The last 24–48 hours: what’s actually new for PEP
Over the past two days, coverage around PepsiCo stock has been headline-light, with the most visible updates skewing toward market chatter and routine ownership/ratings items rather than major new corporate disclosures:
- Institutional ownership / filings: A MarketBeat recap flagged that Carnegie Investment Counsel reduced its PepsiCo stake (based on filing-driven coverage and related reporting). [4]
- Ratings chatter: Another MarketBeat “instant alert” highlighted that Wall Street Zen shifted its view on PepsiCo from “buy” to “hold.” [5]
- Investor commentary: A widely circulated dividend-focused piece argued PepsiCo “looks like an attractive value” for contrarian, income-oriented investors, pointing to the stock’s weaker recent performance and elevated dividend yield versus its own history. [6]
Separately, consumer-facing product buzz also surfaced over the weekend (for example, limited-time Bubly flavors aimed at mocktail and “Dry January” demand), but these brand moments typically matter for the stock only if they translate into measurable volume or mix improvement over time. [7]
Analyst forecasts: “Hold” is the consensus, but price targets imply upside
Wall Street’s aggregated view remains mixed-to-neutral. MarketBeat’s consensus, based on 22 analyst ratings, shows PepsiCo at “Hold” (with a split of 8 Buy, 13 Hold, 1 Sell) and an average 12-month price target of $158.75, implying roughly 10% upside from current levels. [8]
Other data providers are broadly in the same neighborhood, with MarketWatch’s snapshot showing an average target price in the high-$150s range and an “overweight”-leaning average recommendation. [9]
What that means in practice: investors appear willing to pay for PepsiCo’s resilience and shareholder returns—but many analysts still want clearer proof that North America growth can re-accelerate and margins can expand without sacrificing volumes.
The bigger thesis still driving PEP: PepsiCo’s 2026 “accelerate and simplify” plan
The most consequential recent catalyst remains PepsiCo’s 2026 priorities and preliminary outlook, unveiled earlier in December but still shaping the setup for the next earnings cycle.
PepsiCo CEO Ramon Laguarta said the company is moving with “urgency” to improve performance, aiming to “accelerate organic revenue growth” and improve margins beginning in 2026. [10]
Key planks of that plan include:
- Affordability and sharper value tiers to stimulate purchase frequency for mainstream brands. [11]
- Product and formulation shifts (simpler ingredients, more functional offerings such as protein/fiber) and a heavier innovation agenda. [12]
- Aggressive cost actions, including plant/line moves and a push to reduce nearly 20% of U.S. SKUs by early next year. [13]
- A broad efficiency drive (automation/digitalization) targeting at least 100 basis points of core operating margin expansion in aggregate over the next three fiscal years. [14]
On the numbers, PepsiCo projected 2026 organic revenue growth of 2% to 4% and core EPS growth of about 5% to 7% (with additional detail around tax/regulatory impacts). [15]
Activist investor Elliott Investment Management—a key pressure point for PepsiCo stock since its disclosed stake—publicly supported the plan, with Elliott partner Marc Steinberg saying the strategy to invest in affordability, accelerate innovation, and reduce costs should drive better growth and profitability. [16]
Leadership changes taking effect today
One development investors may want on their radar before Monday’s open: PepsiCo’s North America leadership transition is effective Dec. 28.
Per PepsiCo, Steven Williams moves into a new role as Executive Vice President and Vice Chairman, Global Chief Commercial Officer and Corporate Affairs, while Ram Krishnan becomes CEO, PepsiCo North America. [17]
For the stock, the immediate question isn’t the reshuffle itself—it’s whether execution improves in the U.S. business that has drawn the most scrutiny (snacks and beverages) and whether the integration and go-to-market changes translate into better volume, mix, and margins over the next several quarters.
Dividend watch: a key pillar for PEP investors into 2026
For many shareholders, PepsiCo remains a “core hold” primarily because it reliably returns cash.
The company declared a $1.4225 quarterly dividend (annualized $5.69 per share), payable Jan. 6, 2026 to shareholders of record Dec. 5, 2025. PepsiCo said 2025 marked its 53rd consecutive annual dividend increase. [18]
At current prices, the forward yield sits around 4% (depending on the quote used), which is a major part of the stock’s total-return story—especially if price appreciation remains muted. [19]
Sector backdrop: why 2026 may be harder than it looks
Even with a credible internal plan, PepsiCo is operating in a consumer environment that’s changing fast. Barron’s has outlined multiple pressures facing large food and beverage manufacturers heading into 2026—from commodity and policy disruptions to health-and-wellness shifts and the volume impact of GLP-1 weight-loss drugs. [20]
This backdrop matters for PepsiCo stock because it frames what “success” looks like: not just meeting EPS targets, but proving that brand strength and innovation can drive real demand—without relying solely on pricing.
If you’re watching PEP for Monday: what to know before the next session
With U.S. markets reopening Monday, Dec. 29, investors will likely be trading PepsiCo in the context of a holiday-tilted macro calendar and thinner liquidity.
Here are the main near-term items to keep in mind:
- Key U.S. data catalysts this week: Pending home sales (Mon.), Case-Shiller home prices and FOMC minutes (Tues.), and weekly jobless claims (Wed.). [21]
- New Year’s schedule: Stock markets operate a normal schedule on Dec. 31, then are closed Jan. 1, 2026 for New Year’s Day; bond markets end early at 2 p.m. ET on Dec. 31. [22]
- What “matters” for PEP specifically: Watch for any incremental headlines tied to the North America execution plan (pricing architecture, SKU rationalization progress, channel strategy) and how analysts frame PepsiCo relative to peers in consumer staples and beverages. [23]
The next major catalyst: PepsiCo earnings date and investor events
Looking beyond the next session, PepsiCo has already told investors when the next big information drop is coming: the company plans to issue fourth-quarter and full-year 2025 results (year ending Dec. 27) on Tuesday, Feb. 3, 2026, including its press release/10-K early in the morning and a live analyst Q&A later that day. [24]
PepsiCo also scheduled a presentation at the CAGNY conference on Feb. 18, 2026, another potential moment for refreshed guidance color and deeper detail on the 2026 acceleration plan. [25]
References
1. www.marketbeat.com, 2. www.fool.com, 3. www.barrons.com, 4. www.marketbeat.com, 5. www.marketbeat.com, 6. www.fool.com, 7. www.allrecipes.com, 8. www.marketbeat.com, 9. www.marketwatch.com, 10. www.pepsico.com, 11. www.pepsico.com, 12. www.pepsico.com, 13. www.pepsico.com, 14. www.pepsico.com, 15. www.pepsico.com, 16. www.pepsico.com, 17. www.pepsico.com, 18. www.pepsico.com, 19. www.macrotrends.net, 20. www.barrons.com, 21. www.investopedia.com, 22. www.investopedia.com, 23. www.pepsico.com, 24. www.pepsico.com, 25. www.pepsico.com
