5 Stocks Making Moves on Quarterly Results

1. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 66

PepsiCo, Inc. (NASDAQ:PEP) recently caught investors’ attention after delivering another solid quarter. The food and beverage giant recently reported adjusted earnings of $1.79 per share for the three months ended 4 September 2021, up from $1.66 per share in the comparable period of 2020.

Revenue for the quarter rose 11.6 percent on a year-over-year basis to $20.19 billion. The results exceeded the consensus forecast of $1.73 per share for earnings and $19.39 billion for revenue. Shares of PepsiCo, Inc. (NASDAQ:PEP) rose to a one-month high following the results.

If we compare the performance of key businesses, revenue from the North American beverage segment rose 7 percent in the quarter, while revenue from Frito-Lay North America increased 6 percent. In comparison, revenue from Quaker Foods North America inched up just 1 percent in the quarter.

Looking forward, PepsiCo, Inc. (NASDAQ:PEP) expects organic revenue growth of approx. 8 percent for its fiscal year 2021, up from its previous projection for a growth of 6 percent.

Discussing the results, CEO Ramon Laguarta said in a statement:

“Our strong year-to-date results demonstrate that the investments we have made towards becoming a Faster, Stronger, and Better company are working. To further complement and enhance our strategic framework, we recently introduced PepsiCo Positive (pep+), a fundamental end-to-end transformation of what we do and how we do it to create growth and shared value with sustainability and human capital at the center.”

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