Pepsi’s growth trajectory is not without risk, as the company faces secular headwinds such as shifts in consumer behavior. Additionally, changing go-to-market dynamics, such as online commerce that ...

Consistent brand investments ($5 billion, 6.0% of sales), similar to the level of spending by wide-moat peers Mondelez and Kellogg (5.2% and 5.5% of sales, respectively) have reinforced the image of ...