PepsiCo (PEP) reported earnings have left investors underwhelmed, with second-quarter results showing a decline in some of their snack segments. Nik Modi, Managing Director at RBC Capital Markets joins Market Domination to discuss his outlook on the snacking industry.
Modi notes PepsiCo’s status as “a high-quality company,” while acknowledging that the top line was the primary concern in this earnings report. He says PepsiCo’s challenges stem from broader economic trends, noting that consumers are increasingly feeling the pinch of economic pressures. Modi emphasizes, “This is not just a PepsiCo problem, this is a problem for the entire snacking industry.”
However, Modi highlights Constellation Brands (STZ) as a top pick, stating, “This company has been able to deliver exactly what they said in their beer business going back the last ten years.”
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