Analyst Consensus ?
ConsensusHold46 ratings
Bullish1634.8%
Neutral2963.0%
Bearish12.2%
PepsiCo, Inc. · PEP · FY2025 Q4 · Calendar Q1 2026
PepsiCo leans on affordability, brand resets, and acquired brands
The supplied analysis supports a constructive but conditional view: PepsiCo is pursuing volume and organic growth through affordability, shelf-space gains, brand restaging, health-focused innovation, and acquired brands. The case depends on management executing these initiatives while protecting margins and navigating softer consumer spending and changing demand patterns.
Reported Before market openNASDAQConsumer Defensive
$175.53B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.26
Consensus $2.24
EPS surprise
+0.9%
Reported versus consensus
Reported revenue
$29.34B
Consensus $28.98B
Revenue surprise
+1.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+4.9%
Event window
SPY move
-0.8%
Same window
Abnormal move
+5.8%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+0.7%
Up to 20 sessions
PEPSPY benchmark
Ask FN2 about PEP FY2025 Q4
Transcript, numbers and history already loaded
Why did PEP rise 4.9% after beating EPS estimates in FY2025 Q4?What changed in PEP's guidance and outlook in FY2025 Q4?Give me the bull and bear case for PEP after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis places greater emphasis on surgical affordability, double-digit shelf-space gains, and integrating Poppi, Siete, and Alani into the organic growth base. Relative to the prior analysis, the focus has shifted from planned relaunches and productivity work toward execution of those commercial initiatives and evolving consumer preferences.
Guidance delta
Management guidance sentiment was maintained; the supplied analysis does not identify a changed guidance range.
Key takeaways
- Management emphasized targeted affordability actions and shelf-space gains as volume drivers.
- Lay's, Gatorade, Quaker, Pepsi, and Naked remain central to the brand and innovation agenda.
- Health-focused products and portion-controlled formats address changing consumer preferences.
- Poppi, Siete, and Alani are expected to contribute to the organic growth base.
- The main tension is whether volume support can coexist with margin protection.
Management priorities
- Scale affordability initiatives.
- Restage major brands and expand health-focused product lines.
- Integrate recent acquisitions into the organic growth base.
- Pursue retail shelf-space gains and distribution-model tests.
- Rebuild advertising support while improving execution.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$127.96Current
$133Low
$165.68Average
$212High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| BNP Paribas | Outperform | Outperform | Maintain | Sep 23, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 21, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 10, 2026 |
| TD Cowen | Hold | Hold | Maintain | Jul 10, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 10, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 10, 2026 |
| Jefferies | Hold | Hold | Maintain | Jul 10, 2026 |
| Citigroup | Neutral | Buy | Downgrade | Jul 10, 2026 |
| UBS | Buy | Buy | Maintain | Jul 2, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 1, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Jun 25, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Jun 18, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Jun 12, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Apr 17, 2026 |
| Freedom Capital Markets | Hold | Buy | Downgrade | Oct 23, 2025 |
| Freedom Broker | Hold | Buy | Downgrade | Oct 23, 2025 |
| CICC | Market Perform | Outperform | Downgrade | Feb 7, 2025 |
| Wedbush | Outperform | Outperform | Maintain | Apr 23, 2024 |
| Argus Research | Hold | Buy | Downgrade | Apr 3, 2024 |
| DZ Bank | Buy | Hold | Upgrade | Oct 19, 2023 |
| Bernstein | Market Perform | Underperform | Upgrade | Mar 20, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Feb 10, 2023 |
| Redburn Partners | Sell | Sell | Maintain | Nov 4, 2022 |
| Guggenheim | Buy | Buy | Maintain | Sep 21, 2021 |
| Wolfe Research | Perform | Peer Perform | Maintain | Apr 13, 2021 |
| Truist Securities | Hold | Hold | Maintain | Oct 2, 2020 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | Apr 29, 2020 |
| CFRA | Strong Buy | Strong Buy | Maintain | Apr 28, 2020 |
| BMO Capital | Market Perform | Market Perform | Maintain | Oct 4, 2019 |
| Atlantic Equities | Overweight | Overweight | Maintain | Jul 29, 2019 |
| Bank of America | Buy | Buy | Maintain | Jul 10, 2019 |
| Macquarie | Outperform | Outperform | Maintain | Apr 18, 2019 |
| Goldman Sachs | Neutral | Sell | Upgrade | Apr 18, 2019 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 19, 2019 |
| Susquehanna | Positive | Positive | Maintain | Sep 28, 2018 |
| Stifel Nicolaus | Hold | Hold | Maintain | Apr 27, 2018 |
| Stifel | Hold | Hold | Maintain | Apr 27, 2018 |
| Sterne Agee CRT | Neutral | Buy | Downgrade | Feb 26, 2016 |
| Sterne Agee | Neutral | Buy | Downgrade | Feb 26, 2016 |
| Tigress Financial | Neutral | Neutral | Maintain | Dec 4, 2015 |
| Nomura | Neutral | Reduce | Upgrade | Nov 23, 2015 |
| BTIG Research | Buy | Buy | Maintain | Apr 7, 2014 |
| FirstEnergy Capital | Perform | Market Perform | Maintain | Feb 25, 2014 |
| Societe Generale | Hold | Hold | Maintain | Jan 31, 2014 |
| Davenport | Neutral | Buy | Downgrade | Apr 12, 2013 |
| Credit Agricole | Outperform | Buy | Maintain | Apr 4, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $127.96. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Cowen & Co. | Analyst unavailable | $133 | $127.5 | +3.9% | Sep 28, 2026 |
| Deutsche Bank | Steve Powers | $138 | $128.63 | +7.8% | Sep 28, 2026 |
| BNP Paribas | Kevin Grundy | $161 | $129.89 | +25.8% | Sep 23, 2026 |
| Barclays | Analyst unavailable | $142 | $135.46 | +11.0% | Jul 21, 2026 |
| RBC Capital | Analyst unavailable | $161 | $137.09 | +25.8% | Jul 10, 2026 |
| Deutsche Bank | Analyst unavailable | $155 | $137.24 | +21.1% | Jul 10, 2026 |
| Jefferies | Kaumil Gajrawala | $152 | $137.29 | +18.8% | Jul 10, 2026 |
| Barclays | Lauren Lieberman | $138 | $137.26 | +7.8% | Jul 10, 2026 |
| Wells Fargo | Analyst unavailable | $140 | $137.86 | +9.4% | Jul 10, 2026 |
| Morgan Stanley | Dara Mohsenian | $160 | $137.86 | +25.0% | Jul 10, 2026 |
| Bernstein | Analyst unavailable | $134 | $137.86 | +4.7% | Jul 10, 2026 |
| Evercore ISI | Analyst unavailable | $150 | $137.86 | +17.2% | Jul 9, 2026 |
| Piper Sandler | Michael Lavery | $176 | $137.85 | +37.5% | Jul 9, 2026 |
| UBS | Peter Grom | $159 | $137.23 | +24.3% | Jul 9, 2026 |
| BNP Paribas | Analyst unavailable | $183 | $143.89 | +43.0% | Jul 8, 2026 |
| Bernstein | Analyst unavailable | $142 | $135.4 | +11.0% | Jul 1, 2026 |
| Jefferies | Analyst unavailable | $162 | $139.52 | +26.6% | Jun 25, 2026 |
| Deutsche Bank | Analyst unavailable | $168 | $141.59 | +31.3% | Jun 18, 2026 |
| Piper Sandler | Michael Lavery | $178 | $143.73 | +39.1% | Jun 12, 2026 |
| Bernstein | Analyst unavailable | $143 | $143.73 | +11.8% | Jun 11, 2026 |
| Wells Fargo | Analyst unavailable | $150 | $142.15 | +17.2% | Jun 5, 2026 |
| Barclays | Lauren Lieberman | $158 | $157.67 | +23.5% | Apr 20, 2026 |
| Evercore ISI | Analyst unavailable | $170 | $158.14 | +32.9% | Apr 17, 2026 |
| RBC Capital | Analyst unavailable | $163 | $157.49 | +27.4% | Apr 9, 2026 |
| Piper Sandler | Michael Lavery | $181 | $160.02 | +41.5% | Mar 12, 2026 |
| Barclays | Analyst unavailable | $160 | $166.18 | +25.0% | Feb 5, 2026 |
| UBS | Peter Grom | $190 | $165.88 | +48.5% | Feb 4, 2026 |
| RBC Capital | Nik Modi | $156 | $167.82 | +21.9% | Feb 4, 2026 |
| BNP Paribas | Analyst unavailable | $191 | $162.85 | +49.3% | Feb 4, 2026 |
| Wells Fargo | Chris Carey | $165 | $162.85 | +28.9% | Feb 4, 2026 |
| Barclays | Analyst unavailable | $148 | $146.32 | +15.7% | Jan 16, 2026 |
| BNP Paribas | Analyst unavailable | $179 | $146.57 | +39.9% | Jan 16, 2026 |
| UBS | Analyst unavailable | $170 | $145.71 | +32.9% | Jan 14, 2026 |
| Barclays | Analyst unavailable | $144 | $149.7 | +12.5% | Dec 11, 2025 |
| UBS | Peter Grom | $172 | $144.61 | +34.4% | Dec 9, 2025 |
| Piper Sandler | Analyst unavailable | $172 | $145.63 | +34.4% | Dec 9, 2025 |
| Piper Sandler | Analyst unavailable | $161 | $146.1 | +25.8% | Nov 21, 2025 |
| Loop Capital Markets | Georgy Vashchenko | $164 | $151.32 | +28.2% | Oct 23, 2025 |
| Wells Fargo | Analyst unavailable | $154 | $144.71 | +20.4% | Oct 10, 2025 |
| Barclays | Lauren Lieberman | $140 | $142.31 | +9.4% | Oct 3, 2025 |
| BOCOM International Holdings Company | Analyst unavailable | $144 | $148.65 | +12.5% | Aug 29, 2025 |
| Morgan Stanley | Dara Mohsenian | $153 | $133.38 | +19.6% | Apr 25, 2025 |
| Evercore ISI | Robert Ottenstein | $140 | $135.31 | +9.4% | Apr 24, 2025 |
| Barclays | Analyst unavailable | $168 | $151.34 | +31.3% | Mar 17, 2025 |
| Deutsche Bank | Steve Powers | $184 | $158.9 | +43.8% | Dec 12, 2024 |
| Barclays | Lauren Lieberman | $186 | $167.21 | +45.4% | Oct 8, 2024 |
| Citigroup | Filippo Falorni | $195 | $169.69 | +52.4% | Sep 27, 2024 |
| Goldman Sachs | Bonnie Herzog | $192 | $172.11 | +50.0% | Sep 24, 2024 |
| Bernstein | Danilo Gargiulo | $180 | $171.45 | +40.7% | Sep 20, 2024 |
| Morgan Stanley | Dara Mohsenian | $185 | $174.66 | +44.6% | Sep 20, 2024 |
| BNP Paribas | Kevin Grundy | $172 | $174.66 | +34.4% | Sep 19, 2024 |
| Barclays | Lauren Lieberman | $187 | $170.37 | +46.1% | Jul 19, 2024 |
| J.P. Morgan | Andrea Teixeira | $182 | $166.38 | +42.2% | Jul 12, 2024 |
| RBC Capital | Nik Modi | $177 | $163.95 | +38.3% | Jul 12, 2024 |
| Goldman Sachs | Bonnie Herzog | $195 | $167.35 | +52.4% | Jun 25, 2024 |
| Deutsche Bank | Steve Powers | $180 | $168.1 | +40.7% | Jun 24, 2024 |
| Jefferies | Kaumil Gajrawala | $211 | $179.46 | +64.9% | May 16, 2024 |
| Barclays | Lauren Lieberman | $185 | $177.41 | +44.6% | Apr 25, 2024 |
| Wedbush | Gerald Pascarelli | $195 | $176.46 | +52.4% | Apr 22, 2024 |
| Barclays | Lauren Lieberman | $184 | $168.36 | +43.8% | Apr 12, 2024 |
| Jefferies | Kaumil Gajrawala | $209 | $169.65 | +63.3% | Apr 5, 2024 |
| Barclays | Lauren Lieberman | $179 | $173.85 | +39.9% | Feb 9, 2024 |
| Morgan Stanley | Dara Mohsenian | $190 | $165.6 | +48.5% | Jan 25, 2024 |
| Barclays | Lauren Lieberman | $154 | $166.76 | +20.4% | Nov 6, 2023 |
| RBC Capital | Nik Modi | $180 | $162.62 | +40.7% | Oct 11, 2023 |
| Wells Fargo | Chris Carey | $170 | $161.36 | +32.9% | Oct 9, 2023 |
| Argus Research | John Staszak | $212 | $160.29 | +65.7% | Oct 9, 2023 |
| Morgan Stanley | Dara Mohsenian | $210 | $186.66 | +64.1% | Jul 17, 2023 |
| RBC Capital | Nik Modi | $178 | $183.23 | +39.1% | Jul 11, 2023 |
| Barclays | Lauren Lieberman | $198 | $184.3 | +54.7% | Jul 11, 2023 |
| Deutsche Bank | Analyst unavailable | $186 | $181.46 | +45.4% | Dec 6, 2022 |
| RBC Capital | Nik Modi | $170 | $168.3 | +32.9% | Oct 13, 2022 |
| Morgan Stanley | Dara Mohsenian | $198 | $176.52 | +54.7% | Aug 1, 2022 |
| Credit Suisse | Kaumil Gajrawala | $170 | $169.92 | +32.9% | Jul 13, 2022 |
| Evercore ISI | Robert Ottenstein | $185 | $167.99 | +44.6% | May 4, 2022 |
| Credit Suisse | Kaumil Gajrawala | $168 | $171.71 | +31.3% | Apr 29, 2022 |
| Deutsche Bank | Analyst unavailable | $175 | $175.64 | +36.8% | Apr 27, 2022 |
| Deutsche Bank | Steve Powers | $173 | $171.9 | +35.2% | Apr 16, 2022 |
| Barclays | Lauren Lieberman | $180 | $166.7 | +40.7% | Feb 14, 2022 |
| Guggenheim | Laurent Grandet | $188 | $167.27 | +46.9% | Feb 10, 2022 |
| Deutsche Bank | Stephen Powers | $171 | $171.21 | +33.6% | Feb 1, 2022 |
| Jefferies | Kevin Grundy | $180 | $172.68 | +40.7% | Jan 5, 2022 |
| CFRA | Garrett Nelson | $185 | $172.1 | +44.6% | Jan 4, 2022 |
| Argus Research | John Staszak | $195 | $172.1 | +52.4% | Jan 4, 2022 |
| Bank of America Securities | Bryan Spillane | $170 | $151.46 | +32.9% | Jul 14, 2021 |
| Citigroup | Wendy Nicholson | $176 | $151.46 | +37.5% | Jul 14, 2021 |
| Cowen & Co. | Vivien Azer | $185 | $149.91 | +44.6% | Jul 13, 2021 |
| Truist Financial | Bill Chappell | $160 | $149.91 | +25.0% | Jul 13, 2021 |
Track every rating change on PEP the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPepsiCo, Inc. is a global enterprise that creates, promotes, and supplies a diverse array of drinks and easy-to-prepare food items across the globe. Its operations are structured into seven primary divisions: Frito-Lay North America, Quaker Foods North America, PepsiCo Beverages North America, Latin America, Europe, Africa/Middle East/South Asia, and the Asia Pacific, Australia, New Zealand, and China Region. The company's extensive product catalog encompasses popular snack foods like various dips, cheese snacks, spreads, and a range of chips (including corn, potato, and tortilla varieties). Its pantry staples feature cereals, rice, pasta, baking mixes, beverage syrups, granola bars, grits, oatmeal, rice cakes, and ready-made side dishes.…
Historical context
All PEP earningsConsumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| COST Costco Wholesale Corporation | FY2026 Q4 · Calendar Q3 2026 | +3.2% | +2.9% | Costco’s growth broadens as warehouses and digital sales accelerate |
| GIS General Mills, Inc. | FY2027 Q1 · Calendar Q3 2026 | +4.6% | +1.0% | General Mills leans on mix, innovation and e-commerce amid pressure |
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
| CPB Campbell Soup Company | FY2026 Q4 · Calendar Q3 2026 | +1.1% | -7.0% | Campbell’s leans on savings and innovation amid pressured demand |
| BF-A Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | — | Brown-Forman holds FY27 outlook as RTD innovation offsets barrel pressure |
| BF-B Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | 0.0% | — | Brown-Forman maintains FY27 outlook as innovation offsets pressure |
Latest beats and misses
Who reports nextBeat on EPS
- COSTFY2026 Q4 · September 24, 2026+3.2% EPS+2.9% move
- SNXFY2026 Q3 · September 24, 2026+20.9% EPS-9.9% move
- DRIFY2027 Q1 · September 24, 20260.0% EPS-3.0% move
- CTASFY2027 Q1 · September 23, 2026+3.0% EPS-3.4% move
- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
Get the PEP recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-29T15:10:59.767125+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-29T15:10:59.763977+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-29. For educational purposes only; not investment advice.