PepsiCo, Inc. (PEP, Financial)
While known for their namesake soda, PepsiCo has a wide variety of offerings in the drink and snack markets including 23 brands with at least $1 billion in annual sales and is the second largest food company, behind Nestle, based on net revenue. With over half its revenue coming from the United States, PepsiCo had a tough macroeconomic environment with lockdowns for COVID-19. However, they still managed to increase core earnings in 2020 by 2% due in part to a 4.3% increase in core organic revenue. Earlier this year PepsiCo announced a 5% dividend increase to $4.30 per year effective June 2021. This marks the 49th consecutive year PepsiCo has increased their dividend.
From Jeff Auxier (Trades, Portfolio)'s Auxier Asset Management first-quarter 2021 commentary.
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