New York, Feb 13, 2026, 15:51 EST — Regular session.
- PepsiCo shares were down about 0.9% in afternoon trade, lagging the consumer-staples group.
- A regulatory filing detailed a €2.5 billion multi-tranche euro senior notes offering, with proceeds set to repay commercial paper.
- Investors’ next checkpoint is PepsiCo’s Feb. 18 CAGNY presentation for updates on pricing and demand.
PepsiCo shares fell 0.9% to $165.76 on Friday afternoon, underperforming the consumer-staples sector even as the broader market edged only slightly lower. Consumer-staples ETF XLP was up about 0.2%, while the S&P 500-tracking SPY was down about 0.2%. Coca-Cola shares dipped, while Mondelez traded higher.
That matters because PepsiCo stock has been trading near the top of its 52-week range, leaving it more sensitive to small shifts in rate expectations, funding moves and any hint of softer demand. The stock’s 52-week high stands at $171.48, according to MarketWatch data. (MarketWatch)
A Feb. 11 SEC filing showed PepsiCo completed a €2.5 billion euro-denominated senior notes offering, spanning floating-rate debt due 2028 and fixed-rate tranches out to 2047. PepsiCo said it received about €2,482 million in net proceeds and plans to use the money for general corporate purposes, including repaying commercial paper — short-term borrowing companies use to fund day-to-day needs.
The stock closed down 1.15% on Thursday at $167.20, as a broader selloff hit U.S. equities, MarketWatch data showed. (MarketWatch)
PepsiCo’s Friday move also comes after a sharp early-February run that pushed the stock toward its highs, leaving less room for disappointment on execution.
Earlier this month, PepsiCo said it would cut U.S. prices on core snack brands such as Lay’s and Doritos by up to 15% after consumer pushback on price hikes. “We’ve spent the past year listening closely to consumers, and they’ve told us they’re feeling the strain,” Rachel Ferdinando, CEO of PepsiCo Foods U.S., told Reuters. David Wagner, head of equity and portfolio manager at Aptus Capital Advisors, said: “The quarter was pretty strong and likely signals that trends may be headed in a better direction for Pepsi.” (Reuters)
That pricing reset is a balancing act for investors: it can help volumes, but it can also squeeze margins if costs stay sticky or shoppers do not come back in force.
But there is another overhang. Big beverage and snack groups are trying to adapt to changing consumption patterns tied to low-sugar preferences and the growing use of weight-loss treatments, themes Coca-Cola has highlighted as it pushes faster innovation. (Reuters)
Investors will also watch whether PepsiCo’s new long-dated euro funding signals a wider turn toward locking in capital, or simply refinancing short-term paper while it leans into promotions.
The next clear catalyst is Feb. 18, when PepsiCo is scheduled to present at the Consumer Analyst Group of New York (CAGNY) conference — an annual investor-heavy meeting for consumer companies — with a webcast slated for 9 a.m. ET. (Pepsico)
