|Expense Ratio (net)||4.22%|
|Last Cap Gain||0.00|
|Morningstar Risk Rating||High|
|Beta (5Y Monthly)||1.10|
|5y Average Return||N/A|
|Average for Category||N/A|
|Inception Date||Sep 29, 2014|
PepsiCo, Inc. (NASDAQ: PEP) ("PepsiCo") today announced that David Flavell has been appointed as EVP, General Counsel and Corporate Secretary. Flavell, PepsiCo's current SVP, Deputy General Counsel and Chief Compliance & Ethics Officer, will succeed Dave Yawman, who departs PepsiCo after more than twenty-two years of dedicated service to pursue other interests. Flavell will begin his new role on March 1, with Yawman staying on in the interim to ensure a smooth and efficient transition.
Super Bowl celebrations will look different this year, but snacks will continue to be a welcome guest. According to results from Frito-Lay's latest U.S. Snack Index1, a poll focused on consumers' snacking habits – more than 40 percent of Americans are snacking more than they did last year as the Super Bowl LV broadcast is still expected to be the most-watched event of the year. With eight in 10 Americans planning to tune in, Frito-Lay estimates even more snacking – a 21 percent increase from Super Bowl LIV – during this year's game.
Shares of Beyond Meat spiked 18% after the plant-based meat pioneer formed a joint venture with PepsiCo to develop and sell snack and beverage products made from plant-based protein. PepsiCo rose 1.2% at the close on Jan. 26. Financial terms of the partnership weren’t disclosed. However, Beyond Meat (BYND) believes that the venture will provide the plant-based meat maker with access to more customers as it enters new product categories and distribution channels. For the purpose of the joint venture, Beyond Meat and PepsiCo (PEP) will create a new entity called The PLANeT Partnership, LLC (TPP). “We are thrilled to formally join forces with PepsiCo in The PLANeT Partnership, a joint venture that unites the tremendous depth and breadth of their distribution and marketing capabilities with our leading innovation in plant-based protein,” said Beyond Meat CEO Ethan Brown. “PepsiCo represents the ideal partner for us in this exciting endeavor, one of global reach and importance." The joint venture will make use of what it called positive ingredients through tools and techniques such as regenerative agriculture and net water- and carbon-neutral production plants. The partnership comes after Beyond Meat earlier this month teamed up with Yum Brands’ (YUM) subsidiary Taco Bell to develop plant-based protein. Over the past year, the company has forged partnerships to enter additional international markets, including Brazil and China, to shift its sales to retail as the coronavirus pandemic is boosting the appetite for healthier eating, while outdoor dining options are limited and consumption in supermarkets is increasing. As of Sept. 26, Beyond Meat sold products at about 122,000 retail and foodservice outlets in over 80 countries worldwide. The company’s recent deals have helped BYND’s share price surge 48% over the past month. Following the steep rally, the average analyst price target of $109 now indicates downside potential of about 42% from current levels. Oppenheimer analyst Rupesh Parikh views the PepsiCo joint venture “very favorably” and believes “this represents another attractive longer-term driver for BYND to capture more share in the expanding plant-based food ecosystem.” For now, however, Parikh remains sidelined on the stock with a Hold rating as he awaits financial details of the partnership, but suspects “this likely is not impactful to BYND's results for at least a few quarters.” “We see a tricky setup from here with challenging fundamentals amidst increasing competition at retail and difficulties at food-service. However, short interest remains quite elevated at 38.1% of float,” the analyst commented. The rest of the Street has a cautiously bearish outlook on the stock. The Moderate Sell analyst consensus shows 7 Sells, and 9 Holds, versus only 1 Buy. (See BYND stock analysis on TipRanks). Meanwhile, TipRank's hedge fund trading activity tool shows that confidence in BYND is currently very positive as 4 hedge funds increased their cumulative holdings in the stock by 30.7K shares in the last quarter. Related News: Starbucks’ Profit Outlook Disappoints; Shares Fall Crane’s 4Q Profit Falls Short Of Estimates; Street Is Bullish Kimberly-Clark Tops 4Q Estimates, Hikes Dividend By 6.5% More recent articles from Smarter Analyst: AMD's Sales Outlook Tops Estimates As 4Q Profit Jumps 63% Starbucks' Profit Outlook Disappoints; Shares Fall Microsoft's Cloud Services Fuel 2Q Sales Beat; Shares Rise Amazon Plans to Create 3,000 New Jobs in Boston Expansion