2024-04-14 21:26:35 ET
Summary
- Consumer Staples stocks have underperformed so far in the year, but shares of Pepsi have bucked the poor relative sector trend in recent years.
- The firm's earnings are on track with solid organic revenue growth, but the stock's chart shows some weakness in recent months as GLP-1s continue to cast a cloud.
- Despite a revenue miss and tempered outlook reported in January, operational improvements and shareholder rewards are expected.
- Ahead of earnings due out later this month, I highlight key price levels to watch.
Consumer Staples stocks have been nothing to write home about so far in 2024. The Consumer Staples SPDR ETF ( XLP ) is not far from the flat line on a total return basis year to date through mid-April. It comes as retail sales trends waver and GLP-1 weight-loss drugs continue to cast a negative shadow on sugary drink and snack-producing companies. ...
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PepsiCo: Reliable Earnings And Shareholder Accretive Moves, Reiterate Buy