PepsiCo’s (PEP) Stock Price Pulls Back from Annual High

On April 23, PepsiCo’s highly anticipated first-quarter report was released.


The setback occurred when the FDA recalled over 40 Quaker Oats products in December 2023 due to potential salmonella contamination, resulting in a 22% drop in Quaker Food sales volume for the quarter.

However, the report exceeded expectations:

→ Earnings per share: Actual = $1.16, Expected = $1.518;

→ Gross revenue: Actual = $18.25 billion, Expected = $18.08 billion.

By April 25, PepsiCo’s (PEP) stock price reached its annual peak, surpassing $180.

Then, on May 13, PepsiCo’s (PEP) stock price hit a new yearly high, exceeding $181.

FXOpen graph

Technical analysis of the PEP stock chart shows:

→ The price is within a long-term upward channel (blue);

→ Since March, a short-term, steeper ascending channel has formed (green).

The price of PEP stock has risen by about 10% since early March, potentially prompting shareholders to consider profits. David Flavell, Vice President, General Counsel, and Secretary of PepsiCo, sold over 6,000 shares on May 10.

Therefore, the PEP stock market may be vulnerable to a retracement, with potential resistance levels at $180 and the median line of the blue channel.

If a correction occurs, a decline towards the lower boundary of the green channel is possible.

Analysts forecast an average price target of $190 for PEP stock within the next 12 months (TipRanks).

FXOpen offers spreads from 0.0 pips and commissions from $1.50 per lot. Enjoy trading on MT4, MT5, TickTrader or TradingView trading platforms!

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

Read this next


Unlocking Investment Potential: Introducing MoonBag Presale, the Cryptocurrency Set to Surpass ApeCoin and Bitbot

Discover MoonBag Presale, the cryptocurrency set to surpass ApeCoin and Bitbot. Unlock your investment potential now!


Playtech sees promising growth despite dispute with Caliplay

Gambling technology group Playtech plc (LSE: PTEC) reported solid financial results for the four months to April 30 as B2B growth and Snaitech’s record performance pushed it towards large gains in revenue.


Multipool Launches LBP on Fjord Foundry Raising $200k in 24 Hours

Multipool, a leading innovator in the blockchain and cryptocurrency industry, launched their Fjord Foundry LBP on May 21st, raising $200k in the first 24 hours.


$BEER, a New Solana-Based Memecoin completes Pre-Sale of 30,000 SOL this week

The Liquid Gold, $BEER, has become the most discussed topic on Solana over the past two weeks. $BEER has skyrocketed into Twitter trends across Europe & Asia, captivating beer lovers worldwide.

Digital Assets

Hong Kong regulator orders Worldcoin to cease operations over privacy concerns

Hong Kong’s privacy regulator has ordered Worldcoin Foundation to cease all operations of its cryptocurrency project in the city, citing risks to privacy and personal data.

Inside View

MT4 vs MT5: Which Should You Choose for Crypto Trading?

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two sophisticated trading platforms developed by MetaQuotes Software. Although MT4 is the more widely adopted choice, traders must determine which platform is better suited for them and understand the reasons behind this choice. Here’s everything you need to know.

Digital Assets Launches Intent-Centric Architecture and Marketplace

Discover how, formerly Kiroboflow, is revolutionizing blockchain interactions with its Intent-Centric Architecture and new marketplace for intent-based strategies.

Digital Assets

Crypto ETFs, retail trading spike as Bitcoin nears record highs

BlackRock’s spot bitcoin exchange-traded fund (ETF), which trades under the ticker IBIT on Nasdaq, saw a record amount of cash injection after a quiet few weeks of net outflows. The healthy metrics came as bitcoin briefly traded above the $71,000 level for the first time in a month.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: FOMC Minutes, UK Inflation Data, USD, May 22 ,2024

FOMC minutes reveal Fed’s stance on inflation and rates. Hawkish hints could raise USD as investors seek higher returns. Dovish tones might weaken the dollar.