PepsiCo has been stuck in a rut lately. The stock keeps drifting lower, and every time I check, it is a little worse than before. They reported solid earnings, but the real story is what is happening with the snack business. People are buying fewer bags of chips and bottles of soda. The company is even cutting prices to try and get shoppers back, which tells you something about demand. Some analysts keep lowering their targets, others still like it for the dividend, which just got raised again. But a stock that keeps sliding while the company cuts prices to move products does not feel like growth anymore.
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