PepsiCoの空売り状況は、投資家がPepsiCoの株価下落に賭けている度合いを知ることができます。空売りデータは2週間ごとに更新されます。

PepsiCo (NASDAQ:PEP) 株価情報, 空売り情報

PEPSICO INC

PepsiCo

Pepsico, Inc.

NYSE

PepsiCo is a global leader in snacks and beverages, owning well-known household brands including Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others. The company dominates the global savory snacks market and also ranks as the second-largest beverage provider in the world (behind Coca-Cola) with diversified exposure to carbonated soft drinks, or CSD, as well as water, sports, and energy drink offerings. Convenience foods account for approximately 55% of its total revenue, with beverages making up the rest. Pepsi owns the bulk of its manufacturing and distribution capacity in the US and overseas. International markets made up 40% of both total sales and operating profits in 2024.

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投資家の恐怖指数が向上250ポイントの大幅上昇を記録

PepsiCo Inc

Pepe - United States Dollar

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PEPPERLIME HEALTH ACQUISITION CORP ORD

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Parametric Equity Plus ETF

PEXIP HLDG ASA UNSP/ADR by Pexip Hldg ASA

Pexip Holding ASA

Investors with a lot of money to spend have taken a bullish stance on PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PEP, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for PepsiCo.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 30%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $109,200, and 9, calls, for a total amount of $430,560.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $90.0 to $180.0 for PepsiCo over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of PepsiCo stands at 1545.33, with a total volume reaching 1,518.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in PepsiCo, situated within the strike price corridor from $90.0 to $180.0, throughout the last 30 days.
<h3>PepsiCo 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743704092_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PEP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$18.3</td>
<td>$18.2</td>
<td>$18.2</td>
<td>$170.00</td>
<td>$109.2K</td>
<td>563</td>
<td align="right">70</td>
</tr>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$5.05</td>
<td>$4.5</td>
<td>$4.56</td>
<td>$170.00</td>
<td>$100.3K</td>
<td>4.2K</td>
<td align="right">225</td>
</tr>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/17/25</td>
<td>$65.1</td>
<td>$63.0</td>
<td>$64.0</td>
<td>$90.00</td>
<td>$64.0K</td>
<td>0</td>
<td align="right">0</td>
</tr>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/04/25</td>
<td>$5.0</td>
<td>$0.4</td>
<td>$0.89</td>
<td>$152.50</td>
<td>$52.4K</td>
<td>1.1K</td>
<td align="right">589</td>
</tr>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$3.45</td>
<td>$3.25</td>
<td>$3.25</td>
<td>$175.00</td>
<td>$50.3K</td>
<td>831</td>
<td align="right">157</td>
</tr>
</tbody>
</table>

<h3>About PepsiCo</h3>
PepsiCo is a global leader in snacks and beverages, owning well-known household brands including Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others. The company dominates the global savory snacks market and also ranks as the second-largest beverage provider in the world (behind Coca-Cola) with diversified exposure to carbonated soft drinks, or CSD, as well as water, sports, and energy drink offerings. Convenience foods account for approximately 55% of its total revenue, with beverages making up the rest. Pepsi owns the bulk of its manufacturing and distribution capacity in the US and overseas. International markets made up 40% of both total sales and operating profits in 2024.
<h3>Where Is PepsiCo Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 4,339,444, the PEP's price is up by 1.77%, now at $151.76. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 21 days.</li>
</ul>
<h3>What Analysts Are Saying About PepsiCo</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $164.67.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from Jefferies downgraded its action to Hold with a price target of $170. 
&#x2A; An analyst from Barclays has revised its rating downward to Equal-Weight, adjusting the price target to $156. 
&#x2A; Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for PepsiCo, targeting a price of $168. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for PepsiCo with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

Options

PepsiCo Unusual Options Activity For April 03

If you&#8217;ve been paying attention to the stock market recently, you must have come across a rather unexpected turn of events—value stocks are taking center stage from their flashy growth rivals. Over the course of three months, the Russell 1000 Value Index has <a href="https://www.benzinga.com/general/market-summary/25/03/44555763/value-stocks-are-crushing-growth-superstars-in-2025-is-more-to-come">beaten the Russell 1000 Growth Index </a>by a healthy 11%. That&#8217;s a far cry from this time last year, when tech and AI plays were driving the market upwards.
Also Read: <a href="https://www.benzinga.com/etfs/new-etfs/25/03/44569468/growth-or-value-allsprings-new-etfs-offer-both">Growth Or Value? Allspring&#8217;s New ETFs Offer Both</a>
With tariffs, geopolitical tensions, and recession jitters swirling, investors are flocking to the relative safety of value stocks. But is it a permanent pivot, or a temporary sidetrack? Although no one knows for sure what the market will do, history suggests that value stocks have a way of surviving rough patches.
For those looking to ride the wave, these <a href="https://www.benzinga.com/etfs">four value-based ETFs</a> are worth considering:
iShares Russell 1000 Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWD#NYSE">IWD</a>)
The first choice for most investors seeking to follow the Russell 1000 Value Index, IWD offers broad exposure to large-cap value stocks from a wide range of sectors, such as financials, healthcare, and consumer staples. Some of its holdings include stocks of JP Morgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>). With its size and liquidity, this ETF is a convenient means of achieving diversified exposure to the value sector. It carries an expense ratio of 0.19%.
Vanguard Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTV#NYSE">VTV</a>)
An affordable fund with a bottom-of-the-barrel expense ratio of 0.04%, VTV tracks the CRSP US Large Cap Value Index. Blue-chip stalwarts such as JPMorgan Chase, and Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) are overweights in this fund, which is a good bet for stability and long-term growth.
SPDR S&amp;P 500 Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPYV#NYSE">SPYV</a>)
If you desire exposure to value stocks as part of the larger S&amp;P 500, SPYV may be considered. This ETF targets S&amp;P 500 stocks that reflect strong value features in terms of low price-to-earnings and price-to-book ratios. With the valuation differential between value and growth stocks as high as it is now, this ETF is poised to profit from a possible market correction. The portfolio is similar to that of IWD and VTV, and the expense ratio is 0.04%.
Schwab U.S. Dividend Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHD#NYSE">SCHD</a>)
Dividend stocks tend to overlap with value stocks, and SCHD is a good representative of this case. Concentrating on high-grade dividend-paying businesses, this ETF not only gets investors exposed to value stocks but also provides a steady income under market uncertainty. Its portfolio carries blue-chip brands such as Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>), and Pfizer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>). This ETF comes with an expense ratio of 0.06%.
Also Read: <a href="https://www.benzinga.com/25/03/44570070/tariffs-inflation-and-tumbling-markets-these-5-etfs-thrived-amid-the-chaos-last-week">Tariffs, Inflation And Tumbling Markets: These 5 ETFs Thrived Amid Last Week&#8217;s Chaos</a>
Why Value Could Stay On Top
Last quarter&#8217;s value outperformance is more than just jitters in the market. It&#8217;s because, as BlackRock&#8217;s Global CIO of Fundamental Equities Tony DeSpirito <a href="https://www.blackrock.com/us/individual/insights/value-stocks-underweight-and-unaware?utm_source=chatgpt.com">says</a>, growth stocks now comprise almost 40% of the S&amp;P 500—more than double their long-term average of 24%. With the valuations pulled forward, investors might begin shifting into value stocks for diversification. In addition, sectors like utilities, health care, and materials—staples in value indexes—are less tariff-vulnerable and potentially even positively affected by changes in trade policy.
While growth stocks may recover over time, the current market environment has favored value stocks. For those interested in exploring this trend, these four ETFs offer examples of funds that focus on value investing.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/new-etfs/25/03/44570028/westwoods-new-bfre-etf-prioritizes-democracy-over-autocracy">Westwood&#8217;s New BFRE ETF Prioritizes Democracy Over Autocracy</a></li>
</ul>
Photo: Shutterstock

Specialty ETFs

ETFs

SCHD

SPYV

Value Stocks Gain Ground As Inflation, Recession Fears Grow: 4 ETFs To Capitalize On The Trend

This year&#8217;s <a href="https://www.benzinga.com/topic/tariffs">tariff storms</a> have hit tech stocks, semiconductor stocks and even metal and mining stocks. Now, they&#8217;re starting to hit dividend stocks, too.
Ford CEO <a href="https://www.benzinga.com/topic/jim-farley">Jim Farley</a> recently stated, &#8220;If tariffs persist, it will mean billions of dollars of losses for the domestic car industry.&#8221;
That&#8217;s a problem for investors counting on Ford&#8217;s usual robust dividend yield, currently at 6.10%. That figure could easily fall as the auto manufacturer&#8217;s profitability guidance points to lower net income levels as tariffs hit the company&#8217;s investments in manufacturing in Canada and Mexico.
It&#8217;s not just about Ford, either. Other major American brands face lower dividend payouts, too, mostly due to affordability.
But three big-name dividend stocks look set to weather the tariff storm.
<h2 class="wp-block-heading">A Souring Dividend Climate </h2>
In 2024, Ford&#8217;s high dividend was supported by $5.9 billion in net income and $6.7 billion in free cash flow. The company projects the free cash flow figure will decline to between $3.5 billion and $4.5 billion in 2025, as the company figures to pay more to ship products into the US in a post-tariff shift business environment.
Consequently, analysts expect Ford to curb its dividend payout to approximately .12 cents per share, with more doubts sown daily, and the 25% tariffs remain in place.
Some market experts say companies like Ford, which may cut dividend payouts, can&#8217;t solely blame tariffs.
&#8220;Although the general impact of any additional fiscal burdening, including not only tariffs but, let&#8217;s say, tax increases, on stock dividends, is unequivocally negative, we should be able to separate apples from oranges here,&#8221; said John Murillo, chief dealing officer of B2BROKER, a global fintech solutions provider for financial institutions:
In Murillo&#8217;s view, Ford&#8217;s claim that their intention to cut dividends would be linked to the tariff situation appears unjustified. &#8220;In fact, Ford Motor Company is a gross and net beneficiary of Trump&#8217;s imposition of tariffs on European automobile imports.&#8221;
Ford isn&#8217;t the only company affected. &#8220;The tariff/dividend issue is significant,&#8221; said David Capablanca, a veteran securities trader and host of the Friendly Bear Podcast. &#8220;When tariffs are introduced, consumer spending typically decreases, which affects the entire economy and, by extension, the stock market.&#8221;
As a result, stock prices generally go down, and dividend payouts are often reduced. &#8220;This is just the nature of things,&#8221; Capablanca said. &#8220;Companies adjust their dividends based on how the company is performing, and when the market is in a downturn, dividends will reflect that.&#8221;
<h2 class="wp-block-heading">Three Good Dividend Stocks In Tough Tariff Times</h2>
Capablanca advises income-minded investors to focus on stocks with good overall performance, not just those offering a high dividend.
&#8220;Look at the stock&#8217;s chart and see if it looks bullish,&#8221; he said. &#8220;Make sure it&#8217;s trending upward or at least holding steady. If you believe in the company and its sector, it&#8217;s important to ensure the stock isn&#8217;t in a downward spiral.&#8221;
Many struggling companies will try to entice investors with high dividends. &#8220;In those cases, the stock&#8217;s performance is what&#8217;s important,&#8221; he added.
Here are three dividend-paying stocks that fit the bill.
<h2 class="wp-block-heading">UPS</h2>
UPS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) is a sold dividend stock on Capablanca&#8217;s radar screen right now, and the delivery giant is continuing to back its shareholder payouts. In a January analyst call, company CEO Carole Tome noted, &#8220;From a dividend payout perspective, we&#8217;re targeting 50% of earnings, and we&#8217;re higher than that… So (we have) plenty of liquidity to pay the dividend.&#8221;
Despite recently losing about 50% of its Amazon delivery business, UPS says it has $5.7 billion in free cash flow, plans to pay $5.5 billion in dividends and will rebuy $1 billion of stock. The stock is down 12.50% this year, far outpacing the market and presenting a buying opportunity, especially when considering the current 5.94% dividend yield.
<h2 class="wp-block-heading">PepsiCo</h2>
PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) is one of the bigger US companies that appears to be immune to the Trump tariffs, taking on fewer trading risks than its competitors, having relatively fewer products on tariff lists and being another company that values its shareholders with regularly substantial dividend payouts.
&#8220;This is a worldwide consumer staple with pricing power and a 50-plus year dividend history that is resilient even in markets filled with tariffs,&#8221; said Fei Chen, CEO of Intellectia AI and a long-time market investment strategist. The stock is down a bit this year, at -1.14%, but much less than the market&#8217;s 5% drop. It also boasts a 3.61% dividend yield.
<h2 class="wp-block-heading">Proctor &amp; Gamble</h2>
A traditional inflation-passer with worldwide brand power, Proctor &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) historically absorbs price increases while continuing to make steady payouts. &#8220;Firms like Proctor &amp; Gamble score well on pricing power and capital efficiency, the two pillars of dividend safety in volatile times,&#8221; Chen notes. It&#8217;s almost flat for the year, with a -0.30% return and a 2.40% dividend yield.
<h2 class="wp-block-heading">Don&#8217;t Make These Dividend Investing Mistakes</h2>
The most typical mistake investors make when buying high-dividend stocks is failing to diversify across sectors.
&#8220;Many investors prioritize the dividends&#8217; percentage value and payout history while playing down the essence of the companies&#8217; operations,&#8221; Murillo said. &#8220;The current turmoil beating some dividend stocks ostensibly linked to impairments caused by the U.S. import tariffs brings this omission to the forefront.&#8221;
Capablanca warns that income-minded investors should also be cautious and not buy stocks solely based on high dividend yields.
&#8220;Some companies that aren&#8217;t performing well may try to attract investors by offering high dividends, but this can be a dangerous strategy,&#8221; he said. &#8220;If the stock price is consistently falling, the dividend won&#8217;t compensate for the loss in stock value.&#8221;
For example, if you buy a $100 stock that offers a decent dividend but the price drops to $90, $80, or even $60, the dividend becomes insignificant because you&#8217;re losing money on the overall investment,&#8221; he said. &#8220;The key is to look for stocks with decent dividends and a healthy trajectory.&#8221;
<h2 class="wp-block-heading">Earnings Season Alert: Are You Ready for Volatility?</h2>
Earnings season brings major market moves—are you prepared to take advantage of them? Matt Maley, a former institutional trader with over 35 years of experience, is hosting a live session on Wednesday, April 2, at 6 PM ET to show you how to trade the volatility and make the most of Q1 earnings season. He'll share his exact approach for spotting big opportunities, managing risk, and avoiding the costly mistakes that most traders make. Markets move fast—<a href="https://events2.benzinga.com/matt-maley-webinar-wed-apr2-2025-registration">reserve your seat today</a> and get prepared for the action.
Photo: Shutterstock

Opinion

Tech

3 Dividend Giants To Buy As Tariffs Hit Stocks

WIIM

MNST

Shares of beverage and soft drink companies are trading lower after HHS Secretary RFK Jr. said he would seek to bar soda purchases using food stamps.

<a href="https://www.washingtonpost.com/health/2025/03/28/soda-ban-food-stamps-rfk-west-virginia/" title="https://www.washingtonpost.com/health/2025/03/28/soda-ban-food-stamps-rfk-west-virginia/">https://www.washingtonpost.com/health/2025/03/28/soda-ban-food-stamps-rfk-west-virginia/</a>

Watching PepsiCo, Coca-Cola, Monster Beverage, Keurig Dr Pepper; Shares Move Lower 'RFK Jr. Pushes Ban On Soda From Being Purchased With Food Stamps' - Washington Post

NBA player Stephen Curry and&nbsp;former First Lady Michelle Obama&nbsp;have launched Plezi Hydration, a sports drink with a health-conscious twist.
What Happened: Curry and Obama unveiled Plezi Hydration under the umbrella of Obama&#8217;s public benefit firm, Plezi Nutrition. The drink is a fresh addition to the NBA player&#8217;s expanding portfolio of off-court business ventures, <a href="https://www.cnbc.com/2025/03/26/stephen-curry-teams-up-with-michelle-obama-to-launch-sports-drink-.html">reported</a> CNBC.
In 2023, Obama launched Plezi Nutrition to promote healthier eating for kids, building on her &#8220;Let&#8217;s Move!&#8221; campaign from her White House years.
Plezi Hydration steps into the highly competitive sports drink market with a distinct emphasis on health and wellness. The beverage contains no added sugars or artificial sweeteners, has lower sodium than its competitors, and provides a full day&#8217;s supply of vitamin C.
Plezi Hydration, translating to&nbsp;&#8220;fun&#8221; in Creole, will be&nbsp;available in three flavors: lemon lime,&nbsp;tropical punch, and&nbsp;orange mango twist. The beverages will be available in California at Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), Albertsons (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>), and Safeway, and nationwide on Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). Each 16.9-ounce bottle will be priced at $2.29 and contain 70 calories.
Curry said,&nbsp;&#8220;We&#8217;ve created something with smart&nbsp;ingredients and unbeatable flavor, so&nbsp;people can fuel their bodies&nbsp;the right way. No nonsense,&nbsp;no shortcuts — because the&nbsp;next generation deserves better.&#8221;
SEE ALSO: <a href="https://www.benzinga.com/markets/25/03/44508248/elon-musks-doge-service-team-member-tied-to-cybercrime-group-report">Elon Musk&#8217;s DOGE Service Team Member Tied To Cybercrime Group: Report</a>
Why It Matters: Functional beverages or healthier drinks are becoming a major part of the health and wellness market. According to NIQ research, innovation is transforming the industry, leading to 258 new product launches last year, featuring unique functions and ingredients.
The sports drink sector is dominated by three major brands: PepsiCo&#8217;s Gatorade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) with a 61% market share, Coca-Cola&#8217;s Powerade (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) at 14.5%, and BodyArmor at 11.8%, as per Euromonitor International.
The launch of Plezi Hydration comes at a time when the beverage industry is seeing a shift towards healthier options.&nbsp;Celsius Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>)&nbsp;is <a href="https://www.benzinga.com/content/44512107/healthy-energy-drinks-celsius-holdings-building-out-the-space">leading the charge</a> in creating a new category of healthy energy drinks. Meanwhile,&nbsp;PepsiCo is reportedly in talks to <a href="https://www.benzinga.com/media/25/03/44339268/pepsico-reportedly-in-talks-to-acquire-poppi-amid-rising-demand-for-probiotic-drinks">acquire Poppi</a>, a healthier soda brand, indicating a rising demand for healthier beverages. 
Plezi Hydration&#8217;s&nbsp;focus on health and wellness&nbsp;could potentially disrupt the sports drink market, currently dominated by traditional high-sugar drinks.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/media/25/03/44523216/microsoft-plans-proprietary-ai-to-power-business-software-and-reduce-openai-dependence-report">Microsoft Plans Proprietary AI To Power Business Software And Reduce OpenAI Dependence: Report</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Sports

AMZN

CELH

NBA Player Stephen Curry Joins Michelle Obama To Introduce Health-Focused Sports Drink

These ten mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Diginex Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGNX#NASDAQ">DGNX</a>) shares surged 108.29%, probably amid an overall rebound after investor uncertainty and several risk factors that led to markets entering correction territory last week.</li>
<li>NextDecade Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEXT#NASDAQ">NEXT</a>) shares escalated 25.07%. The company announced that the U.S. Court of Appeals for the D.C. Circuit Court issued a revision to the August 2024 judgment, removing vacatur risk on the Federal Energy Regulatory Commission&#8217;s order.</li>
<li>Celsius Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) stock upped 21.60%, likely reacting to news that PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) is acquiring prebiotic<a href="https://www.benzinga.com//node/44360669" target="_blank" rel="noreferrer noopener"> soda brand Poppi for $1.95 billion</a>.</li>
<li>Signet Jewelers Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) stock jumped 21.08% after it reported fourth-quarter FY25 earnings results. Several analysts <a href="https://www.benzinga.com//node/44423649" target="_blank" rel="noreferrer noopener">revised the stock&#8217;s price forecast</a>.</li>
<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) shares escalated 20.63% amid weakness in the dollar after the U.S. launched strikes on Houthi targets. Additionally, strong Chinese economic data could be lifting the demand outlook.</li>
<li>Millrose Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRP#NYSE">MRP</a>) shares jumped 16.61% after the company declared its inaugural dividend <a href="https://www.benzinga.com//node/44365712" target="_blank" rel="noreferrer noopener">and issued a 2025 outlook</a>.</li>
<li>Arcutis Biotherapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQT#NASDAQ">ARQT</a>) stock gained 16.35% last week after Health Canada approved its Zoryve cream for treating mild to moderate atopic dermatitis.</li>
<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) stock increased 15.79% after Morgan Stanley upgraded the stock <a href="https://www.benzinga.com//node/44373086" target="_blank" rel="noreferrer noopener">from Underweight to Equal-Weight</a>.</li>
<li>Catalyst Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRX#NASDAQ">CPRX</a>) stock upped 15.27%.</li>
<li>StoneCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>) shares were up 14.20% after the company reported better-than-expected <a href="https://www.benzinga.com//node/44384778" target="_blank" rel="noreferrer noopener">fourth-quarter EPS and sales</a>.</li>
</ol>
Photo by Around the World Photos on Shutterstock
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<li><a href="https://www.benzinga.com/news/large-cap/25/03/44450375/xpeng-reddit-and-nucor-are-among-top-10-large-cap-losers-last-week-mar-17-mar-21-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">XPeng, Reddit And Micron Tech Are Among Top 10 Large-Cap Losers Last Week (Mar 17-Mar 21): Are The Others In Your Portfolio?</a></li>
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Mid Cap

Movers

ARQT

CPRX

DGNX

GLNG

LCID

SBSW

STNE

Celsius, Lucid And Signet Are Among Top 10 Mid-Cap Gainers Last Week (Mar 17-Mar 21): Are The Others In Your Portfolio?

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. PepsiCo, Restaurant Brands, and Fifth Third Bancorp have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of over 3%.
PepsiCo
PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide.
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The company has increased its dividends consecutively for the past 53 years. According to its most recent dividend hike announcement on Feb. 5, PepsiCo raised the quarterly payout by 7% to $1.355, which is equal to $5.42 annually. Currently, the dividend yield on the stock stands at 3.66%.
PepsiCo's annual revenue as of Dec. 31 stood at $91.85 billion. In its Q4 2024 earnings report on Feb. 4, the company posted EPS of $1.96, beating the consensus estimate of $1.94, while revenues of $27.78 billion came in below the consensus of $27.89 billion.
How is the market feeling about PepsiCo? Check out this <a href="https://www.benzinga.com/insights/short-sellers/25/03/44260293/how-is-the-market-feeling-about-pepsico">article by Benzinga</a> to learn more.
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Restaurant Brands International
Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) operates as a quick-service restaurant company in Canada, the U.S., and internationally.
Restaurant Brands has raised its dividends every year for the last 10 years. In its most recent dividend announcement on Feb. 12, the board increased the quarterly payout from $0.58 to $0.62 per share, equaling an annual figure of $2.48 per share. The current yield on the dividend is 3.65%.
The company's annual revenue as of Dec. 31 stood at $8.41 billion. In its most recent quarterly earnings release on Feb. 12, the company posted Q4 2024 EPS of $0.81 and revenues of $2.30 billion. Both figures beat the Street estimates.
See Also: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a>
Fifth Third Bancorp
Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the U.S.
Fifth Third Bancorp has increased its dividends every year for the last nine years. In its most recent dividend hike announcement on Sept. 12, the company raised the quarterly payout from $0.35 to $0.37 per share, equal to an annual figure of $1.48 per share. Currently, the dividend yield on the stock is 3.75%.
The company&#8217;s annual revenue as of Dec. 31 stood at $8.25 billion. In its Q4 2024 earnings release on Jan. 21, Fifth Third Bancorp posted revenues of $2.17 billion, below the consensus estimate of $2.21 billion, while EPS of $0.90 beat the consensus of $0.88.
Check out this <a href="https://www.benzinga.com/insights/analyst-ratings/25/03/44151455/deep-dive-into-fifth-third-bancorp-stock-analyst-perspectives-8-ratings">article by Benzinga</a> for eight analysts&#8217; insights on Fifth Third Bancorp.
PepsiCo, Restaurant Brands, and Fifth Third Bancorp are good choices for investors seeking reliable passive income. Their dividend yields of over 3% and long history of consistent hikes make them attractive to income-focused investors.
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Personal Finance

FITB

Why PepsiCo, Restaurant Brands, And Fifth Third Bancorp Are Winners For Passive Income

Investors with a lot of money to spend have taken a bearish stance on PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PEP, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://www.benzinga.com/pro/">Benzinga</a>'s options scanner spotted 9 uncommon options trades for PepsiCo.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 66%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $240,872, and 2 are calls, for a total amount of $70,564.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $135.0 and $155.0 for PepsiCo, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of PepsiCo stands at 1196.44, with a total volume reaching 3,206.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in PepsiCo, situated within the strike price corridor from $135.0 to $155.0, throughout the last 30 days.
<h3>PepsiCo Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1742585501_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PEP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/28/25</td>
<td>$0.78</td>
<td>$0.73</td>
<td>$0.78</td>
<td>$144.00</td>
<td>$50.1K</td>
<td>172</td>
<td>725</td>
</tr>
<tr>
<td>PEP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$5.3</td>
<td>$5.25</td>
<td>$5.3</td>
<td>$145.00</td>
<td>$44.5K</td>
<td>3.3K</td>
<td>173</td>
</tr>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/28/25</td>
<td>$0.3</td>
<td>$0.23</td>
<td>$0.23</td>
<td>$150.00</td>
<td>$35.3K</td>
<td>916</td>
<td>1.6K</td>
</tr>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$5.25</td>
<td>$5.15</td>
<td>$5.25</td>
<td>$155.00</td>
<td>$35.1K</td>
<td>1.7K</td>
<td>73</td>
</tr>
<tr>
<td>PEP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>04/04/25</td>
<td>$1.42</td>
<td>$1.31</td>
<td>$1.36</td>
<td>$144.00</td>
<td>$34.2K</td>
<td>61</td>
<td>321</td>
</tr>
</tbody>
</table>

<h3>About PepsiCo</h3>
PepsiCo is a global leader in snacks and beverages, owning well-known household brands including Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others. The company dominates the global savory snacks market and also ranks as the second-largest beverage provider in the world (behind Coca-Cola) with diversified exposure to carbonated soft drinks, or CSD, as well as water, sports, and energy drink offerings. Convenience foods account for approximately 55% of its total revenue, with beverages making up the rest. Pepsi owns the bulk of its manufacturing and distribution capacity in the US and overseas. International markets made up 40% of both total sales and operating profits in 2024.
After a thorough review of the options trading surrounding PepsiCo, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of PepsiCo</h3>
<ul>
<li>With a volume of 4,611,291, the price of PEP is down -1.13% at $145.48. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 34 days.</li>
</ul>
<h3>Professional Analyst Ratings for PepsiCo</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $164.67.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from Barclays has decided to maintain their Overweight rating on PepsiCo, which currently sits at a price target of $168. 
&#x2A; An analyst from Jefferies has revised its rating downward to Hold, adjusting the price target to $170. 
&#x2A; An analyst from Barclays downgraded its action to Equal-Weight with a price target of $156. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for PepsiCo with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

Check Out What Whales Are Doing With PEP

Investors are often driven by the pursuit of massive <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/03/44378283/ralph-laurens-prospects-of-market-share-gains-margin-expansion-turns-this-analyst-bullish">gains</a> and few assets capture this ambition better than individual stocks–like Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)–that have seen a meteoric climb.
For many, high returns from individual <a href="https://www.benzinga.com/markets/25/03/44239013/retirement-investor-with-21-600year-in-dividends-needs-2-200-more-per-month-what-high-yield-stocks-w">stocks</a> and/or options trading are irresistible because such investments can turn a modest sum of money into life-changing <a href="https://www.benzinga.com/markets/25/02/43801235/paper-mill-worker-builds-1-7-million-fortune-through-investing-top-3-stocks-that-boosted-his-wealth">wealth</a>.
This is the case of a 32-year-old ex-military who made $700,000 in options trading but is unsure of what to do next. After hitting it big, the investor is wondering whether he should double down on high-risk strategies, or pivot to more stable, long-term investments, so he&#8217;s taken to Reddit to seek advice.
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With 4,200 shares of NVDA at a cost basis of $69 and $350,000 in cash, he is at a crossroads. His end goal is to preserve and grow his wealth while minimizing risk because he thinks his options trading run may be coming to an end. Still, he isn&#8217;t sure about what to do next.
&#8220;I was in the military but I started trading options and just did that for a few years. I think my run is at the end, though. Finishing school and getting a job now in the next year. I've been waiting for a pullback, unsure when to hop in. Kinda just wanna be done with it,&#8221; he wrote.
He asked whether he should put all his money in Schwab U.S. Dividend Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHD#NYSE">SCHD</a>), which is known for its focus on high-quality dividend-oriented stocks. The community offered plenty of suggestions so let&#8217;s analyze the comments and distill the most relevant advice below.
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<h2 class="wp-block-heading">$350,000 in SCHD? Reddit Assesses His Plan and Gives Suggestions</h2>
Avoid Putting All Your Money in One Asset
One of the most prevalent advice in the comments was to avoid putting all the money into a single investment–SCHD in this case–and diversify the portfolio into several assets.
&#8220;At age 32, I think you should consider a mix of SCHD, [Schwab U.S. Large-Cap Growth ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schg#NYSE">SCHG</a>)], and perhaps [Schwab International Equity ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schf#NYSE">SCHF</a>)]. Perhaps 45/45/10 or 50/45/5,&#8221; a Redditor advised.
A commenter suggested the investor a mix of growth and dividend-paying investments, as well as international exposure.
&#8220;Personally though, I&#8217;d put $50,000 to $100,000 into ex-U.S. markets. [Vanguard International High Dividend Yield ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vymi#NASDAQ">VYMI</a>)], [Legg Mason International Low Volatility High Dividend ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lvhi#NASDAQ">LVHI</a>)], [Franklin International Core Dividend Tilt Index ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/divi#NYSE">DIVI</a>)] are a few dividend-focused options,&#8221; he said.
Recommending a mix of individual stocks, ETFs, and dividend-paying assets, this Reddit user provided a detailed illustration of how diversification can be achieved in a portfolio.
&#8220;$50,000 [Vanguard S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/voo#NYSE">VOO</a>)], $50,000 growth stocks like [Apple Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>)], NVDA, and others, $50,000 SCHD, $50,000 [JPMorgan Nasdaq Equity Premium Income ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jepq#NASDAQ">JEPQ</a>)], $50,000 [JPMorgan Equity Premium Income ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jepi#NYSE">JEPI</a>)], $50,000 [Simplify Volatility Premium ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/svol#NYSE">SVOL</a>)], $50,000 ([Pfizer Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>)], and other dividend stocks),&#8221; his suggestion reads.
&#8220;At 30, SCHG 50% VOO 50%,&#8221; another comment says.
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Consider Tax Efficiency and Long-Term Growth
Another recurring theme in the thread was the importance of tax efficiency and the possible drawbacks of focusing only on dividend income, with many Redditors suggesting that dividend-paying ETFs might not be the best option when it comes to taxes.
&#8220;Dumping $350,000 in there is a monumentally terrible idea. SCHD underperforms the S&amp;P 500 with dividends reinvested and not even counting the extra tax drag. You&#8217;d be creating more taxable income for yourself which is a terrible strategy. You want to minimize income and maximize net worth. Dumping all of your capital into something paying income is the opposite of what you should be doing,&#8221; a Reddit user wrote.
A Redditor suggested to the investor several other options that he says would yield more returns than SCHD.
&#8220;SCHD is a good fund, but is it best for you? With $350,000 invested, it will produce about $12,000 a year. Instead, $350,000 invested in [iShares Preferred and Income Securities ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pff#NASDAQ">PFF</a>)] with a 6% yield, would earn you about $21,000 a year. Or you could invest in [business development companies] using [Putnam BDC Income ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbdc#NYSE">PBDC</a>)] and earn $31,000. Or [NEOS Nasdaq-100 High Income ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqqi#NASDAQ">QQQI</a>)] with a 23% yield and earn $45,000,&#8221; the commenter said.
&#8220;SCHD 30%, VOO 20%, [Realty Income Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/o#NYSE">O</a>)] 14%, [PepsiCo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>)] 14%, [Enterprise Products Partners L.P. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epd#NYSE">EPD</a>)] 12%, [Ares Capital Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arcc#NASDAQ">ARCC</a>)] 10%,&#8221; a user recommended.
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AAPL

ARCC

DIVI

JEPI

JEPQ

LVHI

NVDA

PBDC

iShares S&P US Preferred Stock Index Fund

QQQI

SCHF

SCHG

SVOL

VYMI

32-Year-Old Investor With Massive NVDA Gains And $350K Cash Asks Reddit: 'What's Stopping Me From Putting It All In SCHD?'

A report on March 19, 2025 shows that Senator Tina Smith from Minnesota sale stock in PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>), valued between $200,002 and $500,000. According to the March filing, the transaction occurred on March 19, 2025.
At the time of writing, PepsiCo shares are trading down 0.34% at $147.61.
<h3>What Senator Has Been Trading Recently</h3>
In the past three years, Tina Smith made 13 stock trades totaling more than $865 thousand. The largest trades involved stocks like Medtronic and NextEra Energy. Their most notable trades made recently include key transactions: 
<ul>
<li>PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>): $100,001 - $250,000 Sale</li>
<li>General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>): $100,001 - $250,000 Sale</li>
</ul>
Here's a summary of Tina Smith's recent trades:
<table>
<thead>
<tr>
<th>Company</th>
<th>Ticker</th>
<th>Stock Type</th>
<th>Amount</th>
<th>Transaction Type</th>
<th>Transaction Date</th>
</tr>
</thead>
<tbody>
<tr>
<td>PepsiCo</td>
<td>PEP</td>
<td>STOCK</td>
<td>$100,001 - $250,000</td>
<td>S</td>
<td>2025-02-11</td>
</tr>
<tr>
<td>General Mills</td>
<td>GIS</td>
<td>STOCK</td>
<td>$100,001 - $250,000</td>
<td>S</td>
<td>2025-02-11</td>
</tr>
</tbody>
</table>
Want to keep up with Tina Smith and other congressional members' stock activities? Check out our <a href="https://www.benzinga.com/gov-trades/members/tina-smith">government trades tool</a> for real-time updates!
<h3>The Importance of Congressional Transactions</h3>
A congressional transaction is when any representative or senator either buys or sells an individual stock.
Anyone working in Congress must file a Periodic Transaction Report to inform the public of their recent transaction within 30 days of being notified of the transaction and within 45 days of the transaction date.
In April 2012, Former President Barack Obama signed the STOCK Act into law. The act prohibits members of Congress from using private information given to them by their position for personal gain such as buying or selling a stock. The act also expanded disclosure requirements for members of Congress by requiring them to file a monthly disclosure.
<h3>The Importance of Congressional Transactions</h3>
Congressional transactions shouldn't be the primary reason for an investing decision, but they can be an important factor for an investor to consider.
When a senator or representative makes a new purchase, it could be an indication they expect the stock to rise.
A sale, on the other hand, can be made for a variety of reasons, and may not necessarily mean the seller thinks the stock will go down.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Government

Politics

General

This Senator Just Sold Up To $500K In PepsiCo Stock

March Madness 2025 has arrived with the <a href="https://www.benzinga.com/topic/ncaa-mens-basketball-tournament">NCAA Men's Basketball Tournament </a>set to kick off the round of 64 games on Thursday, March 20.
For years, sports fans and non-sports fans alike have competed in office pools, online challenges and other contests to make a perfect bracket picking the winners of 63 games and ultimately always come up short.
Just how rare is a perfect bracket —&nbsp;and is it even possible? Here's a look at the odds.
Perfect Bracket Odds: The NCAA Men's Basketball Tournament expanded in 1985 to a field of 64 teams competing in 63 games. While the field has expanded to include some play-in games, the main tournament follows the same format.
A verified perfect bracket has never occurred since the field expanded in 1985, according to NCAA.com.
The closest a bracket came was in&nbsp;<a href="https://www.ncaa.com/news/basketball-men/bracketiq/2023-03-14/longest-ncaa-bracket-has-ever-stayed-perfect" target="_blank" rel="noreferrer noopener">2019</a>, when an Ohio neuropsychologist picked games correctly through the first 49 games. The bracket from&nbsp;Gregg Nigl&nbsp;marked&nbsp;the first time someone correctly predicted the games through the Sweet 16 and is the longest perfect bracket of all time.
Prior to 2019, the closest a bracket made it was 39 games in the 2017 tournament.
The closest a bracket made it in last year's March Madness tournament was <a href="https://www.nbcphiladelphia.com/news/sports/ncaab/march-madness-odds-perfect-bracket/4137216/?os=ioxa42gdub&amp;ref=app#:~:text=In%202024%2C%20No.,spoiled%20the%20final%20perfect%20bracket.">reported </a>to be to game 31, nearly giving one contestant a perfect bracket through the Sweet 16.
Read Also: <a href="https://www.benzinga.com/general/sports/25/03/44359867/robinhood-launches-march-madness-event-contracts-with-kalshi-change-the-world-of-finance-and-trading">Robinhood Launches March Madness Event Contracts With Kalshi: &#8216;Change The World Of Finance And Trading&#8217;</a>
The Odds Of A Perfect March Madness Bracket:&nbsp;The&nbsp;<a href="https://www.ncaa.com/news/basketball-men/bracketiq/2023-03-14/perfect-ncaa-bracket-absurd-odds-march-madness-dream" target="_blank" rel="noreferrer noopener">odds&nbsp;</a>to correctly predict the outcome of all 63 games during the tournament are 1 in 9.2 quintillion based on a 50-50 coin flip and all possible outcomes (that's 1 in 9,223,372,036,854,775,808 in numerical form).
Late DePaul University professor&nbsp;Jeff Bergen&nbsp;projected the odds could be 1 in 128 billion for those who know about basketball and follow seed trends.
Bergen estimated it could take 2,300 years for every person on the planet filling out a bracket every minute to fill out all 9.2 quintillion outcomes.
The DePaul professor&nbsp;<a href="https://resources.depaul.edu/newsroom/news/press-releases/Pages/march-madness-2018.aspx" target="_blank" rel="noreferrer noopener">said&nbsp;</a>that you would have a better chance of winning the Powerball and Mega Million in the same week after buying one ticket in each lottery than having a perfect bracket. The current odds to win the Mega Millions and PowerBall jackpots are 1 in 302.6 million and 1 in 292.2 million, respectively.
Here are some other similar odds from Bergen:
<ul>
<li>Predicting the winning political party for each of the next 62 presidential elections</li>
<li>Picking six people at random on the street and they all have the same birthday as you</li>
<li>An NBA player making 414 free throws in a row (the current record is 97)</li>
<li>An MLB pitcher striking out 31 batters in a row (the current record is 13)</li>
</ul>
Georgia Tech professor&nbsp;Joel Sokol&nbsp;used statistics to come up with some models for predicting the March Madness tournament. The professor sees odds of 1 in 120.2 billion for scoring a perfect bracket based on past odds and statistics.
Sokol estimates that if every person in the U.S. filled out a bracket that was around 66.7% accurate (a recent average), a perfect bracket would likely occur 366 years from today, or in the year 2385.
Here's a crazy analogy from the NCAA on the odds of a perfect bracket. If an acorn was hidden in one of the 3 trillion trees on the planet, you would have a 3 million times greater chance of finding the acorn on the first guess than picking a perfect bracket.
Big Payouts:&nbsp;With the odds of getting a perfect bracket being near impossible, several companies have taken advantage of playing the odds with huge promotional events.
BetMGM previously offered a $10-million prize for a perfect bracket.
In 2022, a contest was hosted by&nbsp;Bally's Corp&nbsp;that offered to pay out $100 million for a perfect bracket.
Back in 2014, Berkshire Hathaway Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) CEO&nbsp;Warren Buffett<a href="https://www.benzinga.com/news/14/03/4413389/warren-buffetts-basketball-bracket-madness-ends-twice" target="_blank" rel="noreferrer noopener">&nbsp;offered a $1 billion prize&nbsp;</a>in partnership with&nbsp;Yahoo Sports&nbsp;and&nbsp;Quicken Loans&nbsp;for a perfect bracket.
Buffett is mixing things up this year offering $1 million to any employee in the Berkshire Hathaway competition who <a href="https://www.benzinga.com/general/sports/25/03/44379231/warren-buffett-2025-march-madness-challenge-winner-no-longer-has-to-be-perfect-i-want-to-give-away-a-million-dollars">can correctly predict</a> 30 of the first 32 games.
&#8220;I&#8217;m getting older," Buffett&nbsp;<a href="https://www.wsj.com/sports/march-madness-tournament-bracket-warren-buffett-05f94416" target="_blank" rel="noreferrer noopener">told&nbsp;</a>The Wall Street Journal. "I want to give away a million dollars to somebody while I&#8217;m still around as chairman."
In 2024, around 65,000 of Berkshire&#8217;s 400,000 employees participated in the challenge. With the odds increasingly better to win $1 million, it will be interesting to see if more people participate.
Social media platform X is <a href="https://x.com/XBusiness/status/1900293498177552601">offering </a>a trip to Mars on a SpaceX rocket for anyone with a perfect bracket. With no perfect brackets, the top prize will be $100,000.
USA Today is offering $1 million for a perfect bracket this year, with $25,000 to the top performer if no one is perfect.
Last year, PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) had the "Zero Right Bracket Challenge" in partnership with DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) giving fans the goal of getting no games right out of the 63 possible picks. The challenge is back this year with $100,000 for a perfectly incorrect bracket.
What's Next: The Round of 64 games begin on Thursday, March 20 and will air on TruTV, TBS and TNT, which are owned by Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) and on CBS, which is owned by Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>).
Read Next:
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<li><a href="https://www.benzinga.com/general/sports-betting/24/04/38170865/uconn-wins-back-to-back-ncaa-basketball-title-heres-how-much-you-could-have-made-following" target="_blank" rel="noreferrer noopener">UConn Wins Back-To-Back NCAA Basketball Title: Here's How Much You Could Have Made Following Biden, Obama In March Madness Bracket</a></li>
</ul>
This article was previously published by Benzinga and has been updated.

Photo: Shutterstock

Sports Betting

Education

DKNG

PARA

PARAA

March Madness Perfect Bracket's Near Impossible Odds: Among The Big Payouts Is The X Offer For Trip To Mars

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Barclays analyst Lauren Lieberman downgraded the rating for PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) from Overweight to Equal-Weight and lowered the price target from $168 to $156. PepsiCo shares closed at $151.34 on Monday. <a href="https://www.benzinga.com/quote/pep/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Guggenheim analyst Michael Schmidt downgraded Incyte Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>) from Buy to Neutral and maintained the price target of $92. Incyte shares closed at $62.01 on Monday. <a href="https://www.benzinga.com/quote/INCY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Julien Dumoulin-Smith downgraded TPI Composites, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPIC#NASDAQ">TPIC</a>) from Hold to Underperform and lowered the price target from $2.3 to $0.5. TPI Composites shares closed at $1.20 on Monday. <a href="https://www.benzinga.com/quote/TPIC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS analyst Steven Fisher downgraded PACCAR Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCAR#NASDAQ">PCAR</a>) from Buy to Neutral and announced a $108 price target. PACCAR shares closed at $101.17 on Monday. <a href="https://www.benzinga.com/quote/PCAR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>William Blair analyst Y Katherine Xu downgraded the rating for Incyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>) from Outperform to Market Perform. Incyte shares closed at $62.01 on Monday. &nbsp;<a href="https://www.benzinga.com/quote/ONCY/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying PEP stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="571" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18120202/image-151-1024x571.png" alt="" class="wp-image-829930" style="width:592px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18120202/image-151-1024x571.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18120202/image-151-300x167.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18120202/image-151-768x428.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18120202/image-151.png 1135w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/markets/25/03/44355158/jim-cramer-says-this-tech-stock-is-a-meme-stock-recommends-buying-accenture">Jim Cramer Calls This Stock A &#8216;Meme Stock,&#8217; Recommends Buying Accenture</a></li>
</ul>
Photo: Shutterstock

Downgrades

Analyst Ratings

INCY

PCAR

TPIC

This PepsiCo Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Tuesday

Barclays analyst Lauren Lieberman downgrades PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) from Overweight to Equal-Weight and lowers the price target from $168 to $156.

Price Target

Barclays Downgrades PepsiCo to Equal-Weight, Lowers Price Target to $156

"Shark Tank" is full of success stories and failures with investors like Kevin O'Leary and Mark Cuban investing in companies that appear on the popular investment <a href="https://www.benzinga.com/general/entertainment/24/10/41271567/mark-cuban-reflects-on-shark-tanks-enduring-success-the-american-dream-is-alive-and-well">pitch show for entrepreneurs.</a>
A $1.9 billion acquisition by PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) announced Monday traces its roots back to an appearance on "Shark Tank" and both Cuban and O'Leary passed on investing in the company.
"Shark Tank" Success Story: On Monday, PepsiCo<a href="https://www.benzinga.com/news/large-cap/25/03/44358047/pepsico-bets-big-on-prebiotic-sodas-with-1-95-billion-poppi-acquisition-details"> announced the $1.9 billion acquisition</a> of fast-growing prebiotic soda company poppi.
The company has grown over the years and grew increased national attention with <a href="https://www.benzinga.com/25/02/43598736/super-bowl-commercials-2025-complete-list-of-super-bowl-lix-ads-and-companies-behind-them">Super Bowl commercials</a> in both 2024 and 2025.
Monday's acquisition put a spotlight back on the company's 2018 <a href="https://x.com/darrenrovell/status/1901625038542966893">appearance </a>on "Shark Tank," when the company was then known as Mother Beverage.
Husband and wife co-founders Stephen and Allison Ellsworth appeared on the "Shark Tank" episode seeking $400,000 for a 10% stake in their company.
The duo may have scared away early interest having the sharks take shots of an undisclosed beverage, which turned out to be apple cider vinegar. The taste test was done to highlight how Allison had concocted beverages that included apple cider vinegar and tasted good.
While the sharks agreed that many of the samples tasted good, they quickly exited and left only one guest shark to make an offer.
Guest shark Bethenny Frankel said it was a disaster to manufacture the beverages themselves and couldn't believe they didn't have a partner.
"You're still in the kitchen," Frankel said before she said she was out on any deal.
O'Leary said every beverage company comes into "Shark Tank" and says the future is so bright that you have to wear shades.
"The valuation is insane," O'Leary said, announcing he was out on the deal.
 Cuban told the couple his fear was they would have to raise a lot more money.
"As much as I would like to help a Dallas company, I'm out," Cuban said.
Shark Lori Greiner also exited telling the couple that she would be a customer, but not a partner.
The last remaining shark was guest shark Rohan Oza, who had experience in the consumer products sector.
"Beverage is savage," Oza said.
The investor said the mathematics for a company that's done $250,000 in sales in three months would have to have a different equity stake that they probably wouldn't like.
"For $400k for me to get interested, it's got to be like 25% stake," Oza said.
The other sharks encouraged the couple to take the deal.
"We'd love to do business with you," Stephen Ellsworth said.
You may not be a billionaire like Mark Cuban, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/trading-ideas/25/03/44209284/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-56">check out five stocks flying under the radar that deserve your attention.</a>
Fast Growth: Allison Ellsworth told a portion of her <a href="https://drinkpoppi.com/pages/our-story?srsltid=AfmBOoqQPkfTVvBqH9eS4MEuCrBYS-LRe34A1luWJg5ZzUoPvYEAahsV">story </a>of struggling with weight and turning to apple cider vinegar during their "Shark Tank" pitch. She mixed fruit juices with apple cider vinegar in her Dallas kitchen to create tasty products.
The products were later bottled up and sold at local farmers' markets. At the market, a Whole Foods buyer helped them land a regional deal with the retailer.
While on "Shark Tank," the couple also said they had signed a national deal with Albertson's.
A "Shark Tank" <a href="https://www.sharktankblog.com/business/mother/">update </a>on the company revealed that since their episode aired, the team scrapped the idea of a bottling plant and went with co-packers, a strategy that would likely make Frankel proud. The company also launched cans alongside their bottles.
In 2000, the company was in over 2,000 stores including Walmart and Whole Foods, alongside online sales on Amazon.
After appearing on "Shark Tank," the couple took part in a rebrand to poppi. The brand eventually landed more nationwide retail space and was able to partner with some top celebrity names such as Post Malone, Hailey Bieber, Kylie Jenner, Billie Eilish, Russell Westbrook, Jennifer Lopez, Olivia Munn and more.
As of April 2024, the company had annual revenue of $50 million. Oza said over the years that poppi would become "Shark Tank's" first billion-dollar brand.
Pepsi Acquisition: A <a href="https://x.com/darrenrovell/status/1901625038542966893">tweet </a>from Darren Rovell says Oza's VC CAVU Consumer Partners put in $25 million over the years before the sale to Pepsi.
The appearance on "Shark Tank" gets credit in the deal <a href="https://www.pepsico.com/our-stories/press-release/pepsico-to-acquire-poppi03172025">announcement </a>by Pepsi Monday saying the brand was "discovered" on the show by Oza and funded by CAVU Consumer Partners "from their initial seed round to today."
"poppi is a true testament to the American Dream! From the kitchen to Shark Tank to becoming an iconic brand, this couldn't have been done without the amazing founders Allison and Stephen Ellsworth, the incredible team in place led by CEO Chris Hall, the unmatched support of CAVU's Uncommon team led by Stevie Clements, and the extraordinary poppi community," Oza said.
Oza said the PepsiCo partnership will help even more consumers around the world enjoy poppi.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/23/11/35988212/mark-cuban-to-exit-shark-tank-reflects-on-his-worst-deal-and-surprise-success-shared-with-benzinga">Mark Cuban To Exit Shark Tank: Reflects On His Worst Deal And Surprise Success Shared With Benzinga</a></li>
</ul>
Photo: Nicole Kandi via Shutterstock

Entertainment

Entrepreneurship

Success Stories

Media

Mark Cuban, Kevin O'Leary Rejected Poppi On Shark Tank, Pepsi Just Paid $1.9 Billion To Acquire Company

Conventional wisdom dictates that if an investor is reading about a major business event, the underlying opportunity has already passed. In that context, food-and-beverage giant PepsiCo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) might not seem like an alluring idea, given that the company <a href="https://www.benzinga.com/news/large-cap/25/03/44358047/pepsico-bets-big-on-prebiotic-sodas-with-1-95-billion-poppi-acquisition-details">recently acquired prebiotic soda brand</a> Poppi. Nevertheless, there may be a lot more to PEP stock than a buyout.
To be sure, PepsiCo's acquisition of Poppi — a deal worth $1.95 billion — is a significant move. Fundamentally, <a href="https://www.benzinga.com/media/25/03/44339268/pepsico-reportedly-in-talks-to-acquire-poppi-amid-rising-demand-for-probiotic-drinks">demand for prebiotic beverages is rising</a>. In 2023, the global market for probiotic sodas reached $242.1 million in 2023. Analysts project that by 2031, the sector could be worth $422.4 million, implying a compound annual growth rate of 7.1%. To <a href="https://www.mayoclinic.org/healthy-lifestyle/nutrition-and-healthy-eating/expert-answers/probiotics/faq-20058065#:~:text=Answer%20From%20Katherine%20Zeratsky%2C%20R.D.,as%20food%20for%20human%20microflora.">note</a>, probiotics refer to live microorganisms while prebiotics help maintain the balance of these microorganisms.
Politically, PepsiCo's acquisition also helps align the company with the Trump administration's broader public health policy, as framed by Robert F. Kennedy, Jr. who will lead the Department of Health and Human Services (HHS). Throughout the 2024 campaign trail, Kennedy promoted the drive to enact stricter health and nutrition regulations.
On a more cynical level, though, PEP stock could potentially rise based on <a href="https://www.benzinga.com/media/25/03/44347282/recession-fears-gold-records-and-trade-wars-this-week-in-economics">current economic challenges</a>. It's no secret that households have been struggling under the weight of accelerating prices and growing uncertainty amid escalating trade wars. Subsequently, headlines such as soaring gold prices and recession fears have dominated the business news cycle.
Because consumers are struggling, PepsiCo could benefit from the trade-down effect. Essentially, households may steadily reduce discretionary expenditures by redirecting toward cheaper alternatives. For instance, families could choose to eat out less, thereby increasing trips to the grocery store. That could benefit PepsiCo as one of the leaders of mass-produced, low-cost beverages.
<h2 class="wp-block-heading">Bullish Sentiment Could Be Returning To PEP Stock</h2>
Of course, anyone can wax poetic about a blue-chip brand like Pepsi. At the end of the day, an investment is only viable if it actually delivers positive results — a painfully obvious point. In that regard, PEP stock is compelling as the market has essentially drawn a line in the sand.
From a technical perspective, PEP has charted what appears to be a double-bottom formation. Earlier this year, the bears attempted to drive the price below the $142 level. However, the bulls moved in, sending the equity above $155. Another distinctively bearish effort emerged, which saw PEP fall to around $143. After some tight negotiations, the security resolved upward again.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="597" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17145127/PEP-stock-technical-chart-1024x597.jpg" alt="" class="wp-image-828005" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17145127/PEP-stock-technical-chart-1024x597.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17145127/PEP-stock-technical-chart-300x175.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17145127/PEP-stock-technical-chart-768x448.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17145127/PEP-stock-technical-chart.jpg 1032w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by TradingView</figcaption></figure>
Looking at a longer-term chart, the main target for the bulls appears to be the $160 level, where strong resistance lies. Keep in mind that <a href="https://www.benzinga.com/quote/PEP/analyst-ratings">analysts from a consensus view</a> are forecasting that PEP stock will reach $174. Therefore, $160 would seem a rational target.
It must be said, though, that as a blue chip, PEP might not benefit from substantial kinesis as one might expect from a high-flying tech stock. For swing traders, lowering the expected price target could be more effective. Fortunately, PEP enjoys an upward bias, making speculation with options a more comfortable approach, relatively speaking.
Using pricing data from January 2019, a long position held for an eight-week period statistically has a 57.59% chance of being profitable. That's a solid baseline to bank on. Even better, there's evidence that investors appreciate modest dips.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17145216/PEP-stock-probability-gambit-1024x576.jpg" alt="" class="wp-image-828006" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17145216/PEP-stock-probability-gambit-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17145216/PEP-stock-probability-gambit-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17145216/PEP-stock-probability-gambit-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17145216/PEP-stock-probability-gambit.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>
Last week, PEP stock fell 4.7%. Following a one-week loss of up to 5%, an eight-week long position has a 59.56% chance of rising, slightly better than the baseline. Also, the long odds peak at 67.65% four weeks following modest volatility, which is rather conspicuous.
<h2 class="wp-block-heading">Plotting A Bullish Strategy For PepsiCo Speculators</h2>
Based on the market intelligence above, optimistic traders may consider the 150/155 bull call spread for the options chain expiring April 25. This trade assumes that PEP stock will slightly exceed the short strike price at expiration, thus triggering the maximum payout.
Transactionally, the speculator would buy the $150 call (at a time-of-writing ask of $560) and simultaneously sell the $155 call (at a bid of $284). The credit received from the short call would partially offset the debit paid of the long call, resulting in a net cash outlay of $276. Should the trade go as planned, the max reward is $224, or a payout of about 81.2%.
The reason for the late April expiration date is that historically, PEP stock, while it may benefit from a higher likelihood of upside, does not benefit from magnitude of growth. Still, traders can choose to take the risk of a shorter route to expiration for the possibility of greater rewards.
For example, if a trader wants to play the fourth-week probability boost mentioned earlier, the 150/155 bull spread for the April 11 expiration date is available. This trade bumps the payout to 99.2%. Statistically, though, PEP stock would be projected to reach just under $153 at expiration, which would only make this spread partially profitable.
Photo: Shutterstock

Long Ideas

Options Corner: PepsiCo Popped But There's Still More Fizz In The Can

Celsius Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) shares are trading higher Monday likely reacting to news that PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) is acquiring prebiotic soda brand <a href="https://www.benzinga.com/news/large-cap/25/03/44358047/pepsico-bets-big-on-prebiotic-sodas-with-1-95-billion-poppi-acquisition-details">Poppi for $1.95 billion</a>.
What To Know: According to <a href="https://www.wsj.com/business/retail/pepsico-to-acquire-prebiotic-soda-brand-poppi-for-1-95-billion-94b8f773">The Wall Street Journal</a>, PepsiCo's acquisition includes $300 million in anticipated cash tax benefits, lowering the net purchase price to around $1.65 billion. The company also disclosed that the transaction could involve additional earnout payments if Poppi meets certain performance milestones within a set timeframe. Other terms, including the expected closing date, were not disclosed.
"As we look to reorient our portfolio offerings to address white space consumer needs, the Poppi brand's unique intersection with wellness and culture is a perfect addition to our portfolio," said Ram Krishnan, CEO of PepsiCo Beverages U.S.
Unlike probiotic beverages such as kombucha, which introduce new microbes to the gut, prebiotic sodas like Poppi contain dietary fibers that support existing gut bacteria. The brand uses inulin fiber, typically sourced from agave or chicory root.
CELH Price Action: Celsius Holdings shares were up 9.42% at $29.63 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2"><img loading="lazy" decoding="async" width="1024" height="525" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17124610/Screenshot-2025-03-17-at-12.45.50-1024x525.png" alt="" class="wp-image-827746" style="width:418px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17124610/Screenshot-2025-03-17-at-12.45.50-1024x525.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17124610/Screenshot-2025-03-17-at-12.45.50-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17124610/Screenshot-2025-03-17-at-12.45.50-768x394.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/17124610/Screenshot-2025-03-17-at-12.45.50.png 1529w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Image Via Shutterstock.

Celsius Holdings Shares Climb As PepsiCo Acquires Prebiotic Soda Brand Poppi: What's Going On?

On Monday, PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) announced its plan to acquire the popular prebiotic soda brand, Poppi, in a <a href="https://www.benzinga.com/pressreleases/25/03/n44354698/pepsico-to-acquire-poppi" target="_blank" rel="noreferrer noopener">deal worth $1.95 billion.</a>
This includes $300 million in expected tax benefits, reducing the net purchase price to $1.65 billion. The acquisition also comes with an additional earnout consideration based on achieving specific performance goals after the transaction&#8217;s closure.
&#8220;More than ever, consumers are looking for convenient and great-tasting options that fit their lifestyles and respond to their growing interest in health and wellness. poppi is a great complement to our portfolio transformation efforts to meet these needs,&#8221; said Chairman and CEO Ramon Laguarta.
Poppi&#8217;s acquisition comes as the rapidly growing functional soda brand has achieved notable success thanks to its distinctive mix of prebiotics, fruit juice, and apple cider vinegar.
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The product, renowned for its low calorie count and no more than five grams of sugar per serving, has built a dedicated and enthusiastic following.
Founded by Allison and Stephen Ellsworth, Poppi gained further visibility after being featured on Shark Tank, and secured backing from Rohan Oza and CAVU Consumer Partners, cementing its place as a leader in the beverage market.
&#8220;Allison and the poppi team have built a magnetic brand that&#8217;s ahead of the trends, with a loyal consumer base and a demonstrated capacity for growth. We are big fans of the poppi brand movement and believe this incredible brand paired with our commercial capabilities will drive continued growth and innovation for years to come,&#8221; said CEO, PepsiCo Beverages U.S., Ram Krishnan.
With the transaction now subject to regulatory approval and other standard conditions, the deal is expected to further expand PepsiCo&#8217;s presence in the functional beverage market.
The exact terms of the deal beyond the financial aspects have not been disclosed. PepsiCo held $8.5 billion in cash and equivalents as of December 28.
Price Action: PEP shares traded higher by 1.86% at $151.35 at last check Monday.
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Photo via Shutterstock.

Large Cap

PepsiCo Bets Big On Prebiotic Sodas With $1.95 Billion Poppi Acquisition: Details

PepsiCo To Acquire poppi For $1.95B, Net Purchase Price $1.65B

PepsiCo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) is <a href="https://www.benzinga.com/topic/pepsico" target="_blank" rel="noreferrer noopener">discussing a deal</a> to acquire the healthier soda brand Poppi for over $1.5 billion, Bloomberg reported on Friday, citing unnamed sources familiar with the matter.
The &#8220;functional soda&#8221; includes prebiotics, probiotics, and added fiber, which companies market as digestive health boosters.
PepsiCo had <a href="https://www.bloomberg.com/news/articles/2025-03-14/pepsico-is-said-near-1-5-billion-plus-deal-for-soda-brand-poppi?sref=TBDibEcD">previously </a>abandoned its plans to launch its functional soda under the Soulboost brand.
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Allison Ellsworth and Stephen Ellsworth co-founded Poppi.
The <a target="_blank" href="https://www.benzinga.com/content/40160612/probiotic-soda-market-projected-to-achieve-significant-cagr-of-7-1-by-2031-datam-intelligence" rel="noreferrer noopener">global&nbsp;probiotic soda market</a>&nbsp;reached&nbsp;$242.1 million in 2023&nbsp;and is projected to reach $422.4 million by 2031, at a&nbsp;CAGR of 7.1%&nbsp;from 2024 to 2031, driven by rising health consciousness and the increasing popularity of gut-friendly products.&nbsp;
PepsiCo held $8.5 billion in cash and equivalents <a href="https://www.benzinga.com/25/02/43460249/pepsicos-q4-sales-miss-estimates-on-downcast-performance-in-north-america-stock-dives" target="_blank" rel="noreferrer noopener">as of Dec. 28</a>.
It reported a fourth-quarter sales decline of 0.2% to $27.78 billion, missing the analyst&nbsp;consensus estimate of $27.89 billion. Adjusted EPS of $1.96&nbsp;beat the consensus estimate of $1.94.
PepsiCo expects&nbsp;a low-single-digit increase in organic revenue for fiscal 2025 and a mid-single-digit increase in core constant currency EPS.
Piper Sandler&#8217;s Michael Lavery <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42858329/why-pepsico-is-an-opportunity-for-investors-with-a-long-term-time-horizon" rel="noreferrer noopener">noted how PepsiCo&#8217;s</a> aggressive promotional strategy failed to bear fruit due to weak U.S. consumer spending. However, the analyst highlighted it as a buying opportunity for investors with a long-term time horizon despite the business challenges and negative investor sentiment.
Coca-Cola Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) Chair and CEO James Quincey highlighted in the fourth-quarter report how the company acquired a <a href="https://www.benzinga.com/25/02/43647586/coca-cola-won-overall-share-from-pepsi-maaza-crosses-1-billion-milestone-analyst-says-never-seen-fundamentals-this-good-amid-strong-2025-outlook" target="_blank" rel="noreferrer noopener">significant market share</a> from PepsiCo.
Last November, then President-elect Donald Trump announced Robert F. Kennedy Jr. <a href="https://www.benzinga.com/news/24/11/42015164/why-pepsi-stock-is-falling" target="_blank" rel="noreferrer noopener">as his nominee</a> to lead the Department of Health and Human Services (HHS). PepsiCo&#8217;s shift toward health-conscious products coincided with Kennedy&#8217;s stricter health and nutrition regulations.
PepsiCo stock lost close to 10% in the last 12 months.
Kennedy met PepsiCo and <a target="_blank" href="https://www.benzinga.com/markets/equities/25/03/44209953/rfk-jr-takes-on-food-giants-calls-meeting-with-pepsico-and-general-mills" rel="noreferrer noopener">other company executives</a> this week to address health concerns linked to processed foods and additives.
Price Action: PEP stock is down 0.03% at $148.29 at last check Friday.
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Photo Courtesy: ZikG on Shutterstock.com

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