PepsiCo Suspends Soda Sales in Russia

Year-over-year, PEP is up 20%

Digital Content Manager
Mar 9, 2022 at 9:56 AM
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PepsiCo, Inc. (NASDAQ:PEPannounced yesterday it suspended soda sales in Russia, amid the country's invasion of Ukraine. The company said it will continue to sell daily items, though, including milk, dairy products, baby formula, and food. The Wall Street Journal also reported that PepsiCo is considering writing off the value of its Russian unit. At last check, PEP was up 0.2% to trade at $158.23.

On the charts, PepsiCo stock lost long-time support at the 80-day moving average in mid-February, after pulling back from a Jan. 21, all-time high of $177.24. The shares appear to have found a floor at the $158 area, though they are still trading at their lowest level since late November. Year-over-year, PEP sports a 20% lead.

Analysts remain bullish towards the equity, with nine of the 11 in question calling it a "strong buy," while two say "hold." What's more, the 12-month consensus target price of $180.05 is a 13.5% premium to current levels.

At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), PepsiCo stock sports a 10-day put/call volume ratio of 0.87 that sits higher than 84% of readings from the past year. So, while calls outnumbered puts on an overall basis, the latter have been picked up at a much quicker-than-usual clip over the last two weeks.




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