Elliott Investment Management has taken a $4 billion stake in PepsiCo as the activist hedge fund led by billionaire Paul Singer presses for changes to boost the company’s stock price.The Wall Street Journal first broke the news on Tuesday of Elliott’s position, now one of the soda maker’s biggest-ever investors, that helped lift shares in PepsiCo as high as 6%. The stock was recently up 1.9% at $151.43. 3 Elliott sent a letter to the PepsiCo board in which it laid out its aim of boosting the firm’s share ...

Coca-Cola and PepsiCo are the only two beverage makers that wear those crowns. Coca-Cola and PepsiCo are both Dividend Kings that have raised their payouts annually for at least 50 consecutive years. They're also the only two beverage makers in that elite club. Coca-Cola, which pays a forward yield of 2.95%, has raised its payout annually for 63 years. PepsiCo, which pays a forward yield of 3.91%, has increased its payments for 52 straight years. Those consistent dividend hikes reflect their ability to grow ...

Core Insights - PepsiCo reported quarterly earnings and revenue that exceeded analysts' expectations despite weaker demand in North America [1][2] - The company's shares rose approximately 1% in premarket trading following the earnings report [1] Financial Performance - Net income attributable to the company for the second quarter was $1.26 billion, or 92 cents per share, a decrease from $3.08 billion, or $2.23 per share, a year earlier [1] - Excluding restructuring and impairment charges, the adjusted earnings per share were $2.12, surpassing the expected $2.03 [2][4] - Net sales increased by 1% to $22.73 billion, exceeding the expected $22.27 billion [2][4] - Organic revenue, which excludes acquisitions, divestitures, and foreign currency effects, grew by 2.1% during the quarter [2] Demand Trends - Worldwide volume for Pepsi's food products fell by 1.5%, while the volume for drinks remained flat [2] - The company is experiencing softer demand for its products, which is reflected in the volume metrics that exclude pricing and foreign exchange changes [2] Future Outlook - PepsiCo reiterated its full-year outlook, expecting core constant currency earnings per share to remain roughly unchanged from the previous year [3] - The company anticipates organic revenue growth in the low-single digit percentage range [3] - Last quarter, PepsiCo had cut its earnings forecast due to new tariffs, economic volatility, and a more cautious consumer [3]