PEP · News · 20260929N

North America Demand Trends

PEPSICO INC · 2026-09-29 · Importance 26 · Surprise 24

JPMorgan downgraded PepsiCo after citing weaker-than-expected North American trends and a stalled recovery in Frito-Lay. The commentary indicates subdued demand and execution challenges across PepsiCo’s North American food business. Analysts also expect higher costs to offset productivity savings, increasing pressure on the North American turnaround.

Key facts

• One report stated that PepsiCo's North American business turnaround is stalled, rising costs are present, and there is growing uncertainty over the company's strategy. source
• PepsiCo is at -8.20% year to date. source
• PepsiCo shares PEP fell on Tuesday and the stock slipped about 0.47%. source
• IndustryWeek's 2026 U.S. 500 list noted that PepsiCo remains the top performer among the listed food and beverage manufacturers. source