PEP

Over the last six months, PepsiCo's stock price has declined, decreasing by 8.31% in the past three months and 7.59% in the past month as of October 10, 2026, and showing a 9.89% decline from October 6, 2025, to October 2, 2026. This decline was influenced by several factors: weakness in North American business performance, including a 2% net revenue decline for PepsiCo Foods North America and decreased beverage volumes; macroeconomic headwinds and consumer spending pressures due to elevated gas prices and economic concerns; rising input costs for fuel, aluminum, and agricultural supplies, leading to strategic price increases; analyst downgrades and reduced price targets due to concerns about the North American outlook; lowered full-year guidance for core constant currency EPS growth to 1-2% due to anticipated weakness in PepsiCo Foods North America and higher advertising costs; and activist investor pressure from Elliott Investment Management pushing for a more focused business, including potential refranchising of its North American drinks bottling network.