New York, Feb 10, 2026, 13:05 (EST) — Regular session
- PepsiCo shares slipped after new consumer-demand numbers came in and as the latest beverage earnings hit the tape.
- Traders want to see if slashing snack prices can juice volumes, without eating into margins.
- The next stop: a near-term management update at CAGNY.
PepsiCo shares traded as low as $163.84 and as high as $167.15 on Tuesday, before slipping 0.3% to $165.90 by the afternoon.
Timing counts here. December’s U.S. retail sales came in flat, while “core” sales, which more directly track economic growth, edged down 0.1%. That’s another nudge that cost-conscious shoppers are still reining it in. 1
PepsiCo steps up on Feb. 18, with CEO Ramon Laguarta and CFO Steve Schmitt set for the Consumer Analyst Group of New York event. The duo is expected to outline the company’s approach in that setting. 2
Coca-Cola came up short on fourth-quarter revenue and is now targeting 4% to 5% organic revenue growth in 2026. Henrique Braun, who’s set to take over as CEO, flagged the need for faster execution amid shifting consumer habits—think low-sugar drinks and the growing impact of weight-loss medications. 3
Coca-Cola slipped roughly 1.8% by midday, dragging on beverage stocks and offering PepsiCo scant chance for a bounce.
PepsiCo has been moving to rein in expenses following pressure from activist investor Elliott Management. Just last week, the company announced it’s rolling back U.S. prices on key snacks — Lay’s and Doritos among them — by as much as 15%. The 2026 outlook for core earnings per share remains intact, with a projected increase of 5% to 7%. “We’ve spent the past year listening closely to consumers, and they’ve told us they’re feeling the strain,” said Rachel Ferdinando, CEO of PepsiCo Foods U.S. Laguarta, meanwhile, pointed to “betting a lot on portion control” as GLP-1 weight-loss drugs — which suppress appetite — gain traction. 4
PepsiCo kicked off a fresh $10 billion share buyback plan on Feb. 1, set to run until Feb. 28, 2030. The new authorization steps in for the existing program, which was slated to end later this month. In its annual report, the company projected it would return about $8.9 billion to shareholders in 2026—about $1.0 billion of that from buybacks. 5
The board is doubling down on returns to shareholders. PepsiCo announced a $1.4225 per-share quarterly dividend, set for payout on March 31 to those holding shares as of March 6. Looking further ahead, the company signaled a 4% bump in its annualized dividend, effective with the June payment. 6
Still, chasing affordability isn’t free. Should the price cuts not translate into stronger volumes, or if retailers hold back some of the reductions, margins take a hit. That’s when investors run out of patience for any “wait-and-see” execution.
Investors are watching for U.S. January inflation numbers due Feb. 13, a release known to jolt rate expectations. Not far behind, PepsiCo steps up at CAGNY on Feb. 18, with the Street keen for details on pricing strategies, packaging tweaks, and where buyback momentum stands. 7
