Description
PepsiCo, Inc. is a global food, snack and beverage company founded in 1919.
The Company's brands include Quaker Oats, Tropicana, Gatorade, Lay's, Pepsi, Walkers, Gamesa and Sabritas.
Market capitalisation: $100.68bn
Approximately around 294,000 employees worldwide.
December 5th 2011 closing price: $64.40
52-week range: $58.50-$71.89
Presented By: Aaron Czerkies
Jonathan Barki
Amin Rizwan
Chris Tsoulakas
Frank Damian
December 6 !"##
PepsiCo, Inc. NYSE
EP
•
PepsiCo, Inc. is a global food, snack and beverage company
founded in !!.
•
"#e Company$s brands include %uaker &a's, "ropicana,
(a'orade, )ay$s, Pepsi, *alkers, (amesa and Sabri'as.
•
+arke' capi'alisa'ion: ,--../bn
•
0ppro1ima'ely around 2!3,--- employees 4orld4ide.
•
5ecember 6
'#
2- closing price: ,.3.3-
•
6274eek range: ,6/.6-7,8./!
In'roduc'ion
96 Year: S'ock +arke' Performance
•
;lue line < iS#ares S=P (lobal Consumer S'aples 9>?I:
•
@ed line < PepsiCo
•
(reen < S=P 6-- inde1
Ya#oo Ainance
"ec#nical 0nalysis
Ya#oo Ainance
2- and 2-- day moving average over a 67year 'ime #oriBon
Ya#oo Ainance
2- and 2-- day moving average over a 27year 'ime #oriBon
&4ners#ip
Holder Shares (millions) % Held
"#e Canguard (roup Inc. ...23 3.D!E
S'a'e S'ree' (lobal 0dvisors 6/..! D./6E
;lack@ock Aund 0dvisors 68./2 D.83E
Capi'al @esearc# (lobal Inves'ors D/..- ./DE
*elling'on +anagemen' Co. ))P D.6. ..2E
;anc of 0merica Securi'ies ))C 23.!2 ..E
Nor'#ern "rus' Inves'men's 22.!. .3DE
". @o4e Price 0ssocia'es, Inc. 2.!/ .DDE
Yack'man 0sse' +anagemen' Co., Inc /. .26E
Aideli'y +anagemen' = @esearc# Co. 6.D3 .22E
0bove - #olders comprise 22.28E of s#are#oldersF o4ners#ip.
5a'a as of D-
'#
Sep'ember, 2-, Ainancial "imes
+acroeconomic 0nalysis
Consumer spending:
•
I;IS *orld es'ima'es 2..E compound gro4'# in
consumer spending from 2- 'o 2-.
#''p:GGclien's.ibis4orld.comGbedGdefaul'.asp1HbedidID.D Image: #''p:GGclien's.ibis4orld.comGc#ar'sGbedGJJD.DJ;E5Scores.png
Indus'ry 0nalysis
Soda Production in the US:
•
K,8bn revenue, ,2.6bn profi'
Performance
•
Indus'ry #as been suffering recen'ly 4i'# an annual 8.E
decline from 2--. 'o 2-
&u'look
•
I;IS *orld proLec' a nega'ive annual gro4'# ra'e of 72.-E
for 2- 'o 2-.
+aLor Players
The Coca-Cola Company 7 +arke' S#are: 3.2E
PepsiCo Inc. 7 +arke' S#are: DD..E
r Pepper Snapple !roup Inc. 7 +arke' S#are: 6.3E
#''p:GGclien's.ibis4orld.comGindus'ryusGdefaul'.asp1HindidI2/6
Indus'ry 0nalysis 9con'.:
Snac" #ood Production in the US
•
K,2/.3bn revenue, ,6.!bn profi'
Performance
•
S'eady gro4'# 4i'# an annual ra'e of 3.2E from 2--. 'o
2-
&u'look
•
I;IS *orld proLec' an annual gro4'# ra'e of 2.E for 2-
'o 2-.
+aLor Players
#rito $ay %orth &merica 7 +arke' S#are: 3/.3E
'ra(t #oods Inc. 7 +arke' S#are: 6.2E
!eneral )ills Inc. 7 +arke' S#are: 6.E
#''p:GGclien's.ibis4orld.comGindus'ryusGdefaul'.asp1HindidI28
Indus'ry 0nalysis 9con'.:
*uice Production in the US
•
K,28bn revenue, ,..bn profi'
Performance
•
@ecen' performance #as been s'rong 4i'# annual gro4'#
ra'es of -.3E from 2--. 'o 2-
&u'look
•
I;IS *orld proLec' an annual gro4'# ra'e of -.6E for 2-
'o 2-.
+aLor Players
PepsiCo Inc. 7 +arke' S#are: D/.3E
The Coca-Cola Company 7 +arke' S#are: 2.6E
r Pepper Snapple !roup Inc. 7 +arke' S#are: ..E
#''p:GGclien's.ibis4orld.comGindus'ryusGdefaul'.asp1HindidI2/8
Produc' Segmen's
Source: ;arclays M;"SN Consumer Conference, Sep 2-
#''p:GG444.pepsico.comG5o4nloadG;arclaysJ;"SJPresen'a'ion.pdf
2-- @evenue ;reakdo4n
Source: 0nnual @epor', 5ec 2--
(lobal +arke's E1posure
•
0bou' ,2- billion or DE of @evenue from emerging marke's in 2--
•
Aocus on gro4'# in Cen'ral 0sia and Eas'ern Europe
•
8-E gro4'# of sales in @ussia over las' 2 years
•
@obus' economic indica'ors, lo4 deb' ra'ios, good foreign e1c#ange
reserves
•
*imm7;ill75ann acOuisi'ion
?
..E a' ,D./ ; 'o'al o4ners#ip 'o 88E
?
6 0ug 2-, PsOueeBe7ou' demandF for o'#er 2DE
?
D,//D.8- @ussian rubles per s#are
Source: %D Earnings @elease, &c' 2-
Ainancial Performance
•
23E 67year C0(@
•
Qig# opera'ing margins and po'en'ial for gro4'#
•
67year Compounded 0nnual (ro4'# @a'es:
?
2E in Ne' @evenue
?
-E &pera'ing Profi'
•
,2! ; in 5ividend and S#are repurc#ases in '#e las' 6 yrs
?
!E EPS
?
/E &pera'ing Cas# Alo4
Savory Snacks
?
Ari'o )ayFs *orldFs larges' Aood ;rand ,!.3bn
?
5ori'os ,3 ;, C#ee'os ,D. ;, @uffles ,2..bn,
"osi'os ,.8bn, Ari'os ,.Dbn
•
"ransna'ional e1pansion s'ra'egy
'#roug# balance be'4een:
?
)ocaliBa'ion
?
+ain'aining consis'en' Ouali'y s'andards and
cooking processes
•
67year C0(@:
?
DE Colume
?
/E @evenue
?
/E N&P;"
Source: %D Earnings @elease, &c' 2-
;everages
Source: ;arclays M;"SN Consumer Conference, Sep 2-
#''p:GG444.pepsico.comG5o4nloadG;arclaysJ;"SJPresen'a'ion.pdf
Carbona'ed Sof' 5rinks
•
Sus'ain po4er#ouse brands
?
Sierra +is', R8E in volume
?
+oun'ain 5e4, R2.6E in volume
?
Pepsi +a1, R!DE in volume
•
Aocused adver'ising = marke'ing campaigns
?
Pepsi +a1
?
5ie' Pepsi
?
Pepsi
?
Social media e1posure
•
Con'inue innova'ing produc's
?
Pepsi Ne1'
•
5evelop &ccasion7based marke'ing
?
&n7'#e7(o @efres#men'
?
Special &ccasion and Celebra'ions
?
+eal7'ime and Snacking
Source: %D Earnings @elease, &c' 2-
Qydra'ion = Nouris#men'
(a'orade
•
E Sales gro4'#
•
88.DE Spor's 5rink marke' s#are
"ropicana
•
0bou' 6-E Sales ""+
gro4'#
•
,6- ++
Source: %D Earnings @elease, &c' 2-
;arclays M;"SN Consumer Conference, Sep 2-
#''p:GG444.pepsico.comG5o4nloadG;arclaysJ;"SJPresen'a'ion.pdf
Nu'ri'ion
•
"op D globally in Nu'ri'ion, aiming 'o be ,D-; business by 2-2-
•
Quge gro4'# po'en'ial, 67year double7digi' revenue C0(@
•
S'rong demograp#ic and consumer in'eres' in #eal'# and 4ellness
•
0ging popula'ion seeking #eal'#y and 'as'y foods
•
&n7'#e7(o consumers and '#eir demand for convenience
Source: %D Earnings @elease, &c' 2-
;arclays M;"SN Consumer Conference, Sep 2-
#''p:GG444.pepsico.comG5o4nloadG;arclaysJ;"SJPresen'a'ion.pdf
@ecen' C#allenges and Concerns
•
2-2 Pricing S'ra'egy
•
Commodi'y infla'ion and 5emand elas'ici'y
•
+argins = Cos' cu''ing measures
•
Currency e1posure
•
Inves'ors appealing for a spli' of Snacks and ;everages
•
S'rong gro4'# in snacks business
•
S'rong gro4'# 4i'# "ropicana and (a'orade
•
*eak CS5 s'ra'egy and cul'ure #as impac'ed PepsiCoFs overall s'ock
performance
•
*#ile Coke #as increased by abou' 6-E
•
&ver7spending in marke'ing and adver'ising
•
>raf' and Sara )ee e1ample
Source: M5onF' @ule &u' a Pepsi ;reakup Ye'N, ;arronFs, G!G2-
%D Earnings @elease, &c' 2-
"#e Po4er of &ne
•
"4o po4erful businesses 4or'# ,D; eac#
•
Consump'ion:
?
Planned 'oge'#er
?
;oug#' 'oge'#er
?
Consumed 'oge'#er
•
Synergies uniOue 'o PepsiCo '#a' lead 'o selling = service
advan'ages and efficien' opera'ions:
?
Common +erc#andising
?
Convenience S'ore C#annel
?
5emograp#ics
?
;road Price Poin's
?
Prime7'ime +erc#andising
?
5is'ribu'ion Ne'4orks
?
Ne4 NA) - Year 5eal
Source: %D Earnings @elease, &c' 2-
Public Comparable 0nalysis
•
+ua"er,%utrition
•
S*?:NESN Nes'lS S.0.
;usiness areas include Aood and ;everage, Nes'le *a'ers and Nes'le
Nu'ri'ion.
•
NYSE:>A" >raf' Aoods Inc.
+anufac'ures and marke's packaged food produc's, including biscui's,
confec'ionery, beverages, c#eese, convenien' meals and various packaged
grocery produc's.
•
NYSE:;(S ;=( Aoods Inc.
;=( Aoods, Inc. 9;=( Aoods: manufac'ures, sells and dis'ribu'es a diverse
por'folio of branded s#elf7s'able food produc's.
•
NYSE
IS (eneral +ills, Inc.
(lobal manufac'urer and marke'er of consumer foods. produc's ca'egories in
'#e TS include cereals, refrigera'ed yogur', soups, s#elf s'able and froBen
vege'ables, doug# produc's, desser' and baking mi1es, grain, frui' and savory
snacks, and a varie'y of organic produc's.
Public Comparable 0nalysis 7
%uaker
•
@ange: ...3! 'o 8D.8D
•
+edian: 8.-.
•
Price: /.D.
Public Comparable 0nalysis 9con'.:
•
So(t rin"s
•
NYSE:>& "#e Coca7Cola Company
Produce over D,6-- beverages. No'able brands include: Coca7
Cola, Po4erade, Aan'a, Spri'e, 5asani and Ci'amin *a'er
•
NYSE:C&" Co'' Corpora'ion
Produc's: @ed @oos'er, ;lue C#arge
•
NYSE:5PS 5r Pepper Snapple (roup, Inc.
Produc's: 5r Pepper, 8TP, Canada 5ry, @C Cola 5eLa ;lue
•
NasdaO(S:AIUU Na'ional ;everage Corp.
Produc's: S#as'a, Aaygo, Everfres#
Public Comparable 0nalysis < Sof'
5rinks
•
@ange: 6-2! 'o /.8!
•
+edian: 6..3-
•
Price: 23.--
Public Comparable 0nalysis 9con'.:
•
#rito-$ay
•
NasdaO(S
NCE Snyder$s7)ance, Inc.
+anufac'urer and dis'ribu'er of snack food produc's, including pre'Bels,
crackers, ke''le c#ips, cookies, po'a'o c#ips and 'or'illa c#ips.
•
NasdaO(S:5+N5 5iamond Aoods, Inc.
Produc's: >e''le ;rand Po'a'o C#ips,
•
NYSE:C0( Con0gra Aoods, Inc.
Consumer Aoods producer. ;rands include ;anOue', 5avid Seeds,
Egg ;ea'ers, Qeal'#y C#oice, Qebre4 Na'ional, Pam and Snack Pack.
•
NYSE:QSY Qers#ey Co.
Snacks
Public Comparable 0nalysis < Ari'o7)ay
•
@ange: 2.62 'o .8.22
•
*eig#': 66.--
•
&'#er mul'iples lo4 so used closer 'o PGE
•
Price: 6.8
Public Comparable 0nalysis 9con'.:
•
Tropicana
•
NasdaO(S:Q0NS Qansen Na'ural Corpora'ion
5evelops, sells and dis'ribu'es beverages. ;rands include +ons'er
Energy, Peace "ea, Qansen$s, Qansen$s Na'ural Sodas, Vunior
Vuice, ;lue Sky, ?7Presso +ons'er, Cidra'ion, Quber'$s, @umba,
Samba and "ango.
•
NYSE:C%; C#iOui'a ;rands In'erna'ional Inc.
Produc's: C#iOui'a Arui' Luices
Public Comparable 0nalysis 7
"ropicana
•
@ange: 8-. 'o 3/.//
•
+edian: -!.3!
•
Price: !.8/
@ecommenda'ion
•
5CA value: ,.6.!D
•
Comps value: ,.8.D
•
Curren' marke' price 92G-.G2-:: ,.3.3-
•
Curren' recommenda'ion: *a'c# )is', bu' 4ould love 'o buy on a
pullback belo4 ,.-
doc_626365839.ppt
PepsiCo, Inc. is a global food, snack and beverage company founded in 1919.
The Company's brands include Quaker Oats, Tropicana, Gatorade, Lay's, Pepsi, Walkers, Gamesa and Sabritas.
Market capitalisation: $100.68bn
Approximately around 294,000 employees worldwide.
December 5th 2011 closing price: $64.40
52-week range: $58.50-$71.89
Presented By: Aaron Czerkies
Jonathan Barki
Amin Rizwan
Chris Tsoulakas
Frank Damian
December 6 !"##
PepsiCo, Inc. NYSE
EP•
PepsiCo, Inc. is a global food, snack and beverage company
founded in !!.
•
"#e Company$s brands include %uaker &a's, "ropicana,
(a'orade, )ay$s, Pepsi, *alkers, (amesa and Sabri'as.
•
+arke' capi'alisa'ion: ,--../bn
•
0ppro1ima'ely around 2!3,--- employees 4orld4ide.
•
5ecember 6
'#
2- closing price: ,.3.3-
•
6274eek range: ,6/.6-7,8./!
In'roduc'ion
96 Year: S'ock +arke' Performance
•
;lue line < iS#ares S=P (lobal Consumer S'aples 9>?I:
•
@ed line < PepsiCo
•
(reen < S=P 6-- inde1
Ya#oo Ainance
"ec#nical 0nalysis
Ya#oo Ainance
2- and 2-- day moving average over a 67year 'ime #oriBon
Ya#oo Ainance
2- and 2-- day moving average over a 27year 'ime #oriBon
&4ners#ip
Holder Shares (millions) % Held
"#e Canguard (roup Inc. ...23 3.D!E
S'a'e S'ree' (lobal 0dvisors 6/..! D./6E
;lack@ock Aund 0dvisors 68./2 D.83E
Capi'al @esearc# (lobal Inves'ors D/..- ./DE
*elling'on +anagemen' Co. ))P D.6. ..2E
;anc of 0merica Securi'ies ))C 23.!2 ..E
Nor'#ern "rus' Inves'men's 22.!. .3DE
". @o4e Price 0ssocia'es, Inc. 2.!/ .DDE
Yack'man 0sse' +anagemen' Co., Inc /. .26E
Aideli'y +anagemen' = @esearc# Co. 6.D3 .22E
0bove - #olders comprise 22.28E of s#are#oldersF o4ners#ip.
5a'a as of D-
'#
Sep'ember, 2-, Ainancial "imes
+acroeconomic 0nalysis
Consumer spending:
•
I;IS *orld es'ima'es 2..E compound gro4'# in
consumer spending from 2- 'o 2-.
#''p:GGclien's.ibis4orld.comGbedGdefaul'.asp1HbedidID.D Image: #''p:GGclien's.ibis4orld.comGc#ar'sGbedGJJD.DJ;E5Scores.png
Indus'ry 0nalysis
Soda Production in the US:
•
K,8bn revenue, ,2.6bn profi'
Performance
•
Indus'ry #as been suffering recen'ly 4i'# an annual 8.E
decline from 2--. 'o 2-
&u'look
•
I;IS *orld proLec' a nega'ive annual gro4'# ra'e of 72.-E
for 2- 'o 2-.
+aLor Players
The Coca-Cola Company 7 +arke' S#are: 3.2E
PepsiCo Inc. 7 +arke' S#are: DD..E
r Pepper Snapple !roup Inc. 7 +arke' S#are: 6.3E
#''p:GGclien's.ibis4orld.comGindus'ryusGdefaul'.asp1HindidI2/6
Indus'ry 0nalysis 9con'.:
Snac" #ood Production in the US
•
K,2/.3bn revenue, ,6.!bn profi'
Performance
•
S'eady gro4'# 4i'# an annual ra'e of 3.2E from 2--. 'o
2-
&u'look
•
I;IS *orld proLec' an annual gro4'# ra'e of 2.E for 2-
'o 2-.
+aLor Players
#rito $ay %orth &merica 7 +arke' S#are: 3/.3E
'ra(t #oods Inc. 7 +arke' S#are: 6.2E
!eneral )ills Inc. 7 +arke' S#are: 6.E
#''p:GGclien's.ibis4orld.comGindus'ryusGdefaul'.asp1HindidI28
Indus'ry 0nalysis 9con'.:
*uice Production in the US
•
K,28bn revenue, ,..bn profi'
Performance
•
@ecen' performance #as been s'rong 4i'# annual gro4'#
ra'es of -.3E from 2--. 'o 2-
&u'look
•
I;IS *orld proLec' an annual gro4'# ra'e of -.6E for 2-
'o 2-.
+aLor Players
PepsiCo Inc. 7 +arke' S#are: D/.3E
The Coca-Cola Company 7 +arke' S#are: 2.6E
r Pepper Snapple !roup Inc. 7 +arke' S#are: ..E
#''p:GGclien's.ibis4orld.comGindus'ryusGdefaul'.asp1HindidI2/8
Produc' Segmen's
Source: ;arclays M;"SN Consumer Conference, Sep 2-
#''p:GG444.pepsico.comG5o4nloadG;arclaysJ;"SJPresen'a'ion.pdf
2-- @evenue ;reakdo4n
Source: 0nnual @epor', 5ec 2--
(lobal +arke's E1posure
•
0bou' ,2- billion or DE of @evenue from emerging marke's in 2--
•
Aocus on gro4'# in Cen'ral 0sia and Eas'ern Europe
•
8-E gro4'# of sales in @ussia over las' 2 years
•
@obus' economic indica'ors, lo4 deb' ra'ios, good foreign e1c#ange
reserves
•
*imm7;ill75ann acOuisi'ion
?
..E a' ,D./ ; 'o'al o4ners#ip 'o 88E
?
6 0ug 2-, PsOueeBe7ou' demandF for o'#er 2DE
?
D,//D.8- @ussian rubles per s#are
Source: %D Earnings @elease, &c' 2-
Ainancial Performance
•
23E 67year C0(@
•
Qig# opera'ing margins and po'en'ial for gro4'#
•
67year Compounded 0nnual (ro4'# @a'es:
?
2E in Ne' @evenue
?
-E &pera'ing Profi'
•
,2! ; in 5ividend and S#are repurc#ases in '#e las' 6 yrs
?
!E EPS
?
/E &pera'ing Cas# Alo4
Savory Snacks
?
Ari'o )ayFs *orldFs larges' Aood ;rand ,!.3bn
?
5ori'os ,3 ;, C#ee'os ,D. ;, @uffles ,2..bn,
"osi'os ,.8bn, Ari'os ,.Dbn
•
"ransna'ional e1pansion s'ra'egy
'#roug# balance be'4een:
?
)ocaliBa'ion
?
+ain'aining consis'en' Ouali'y s'andards and
cooking processes
•
67year C0(@:
?
DE Colume
?
/E @evenue
?
/E N&P;"
Source: %D Earnings @elease, &c' 2-
;everages
Source: ;arclays M;"SN Consumer Conference, Sep 2-
#''p:GG444.pepsico.comG5o4nloadG;arclaysJ;"SJPresen'a'ion.pdf
Carbona'ed Sof' 5rinks
•
Sus'ain po4er#ouse brands
?
Sierra +is', R8E in volume
?
+oun'ain 5e4, R2.6E in volume
?
Pepsi +a1, R!DE in volume
•
Aocused adver'ising = marke'ing campaigns
?
Pepsi +a1
?
5ie' Pepsi
?
Pepsi
?
Social media e1posure
•
Con'inue innova'ing produc's
?
Pepsi Ne1'
•
5evelop &ccasion7based marke'ing
?
&n7'#e7(o @efres#men'
?
Special &ccasion and Celebra'ions
?
+eal7'ime and Snacking
Source: %D Earnings @elease, &c' 2-
Qydra'ion = Nouris#men'
(a'orade
•
E Sales gro4'#
•
88.DE Spor's 5rink marke' s#are
"ropicana
•
0bou' 6-E Sales ""+
gro4'#
•
,6- ++
Source: %D Earnings @elease, &c' 2-
;arclays M;"SN Consumer Conference, Sep 2-
#''p:GG444.pepsico.comG5o4nloadG;arclaysJ;"SJPresen'a'ion.pdf
Nu'ri'ion
•
"op D globally in Nu'ri'ion, aiming 'o be ,D-; business by 2-2-
•
Quge gro4'# po'en'ial, 67year double7digi' revenue C0(@
•
S'rong demograp#ic and consumer in'eres' in #eal'# and 4ellness
•
0ging popula'ion seeking #eal'#y and 'as'y foods
•
&n7'#e7(o consumers and '#eir demand for convenience
Source: %D Earnings @elease, &c' 2-
;arclays M;"SN Consumer Conference, Sep 2-
#''p:GG444.pepsico.comG5o4nloadG;arclaysJ;"SJPresen'a'ion.pdf
@ecen' C#allenges and Concerns
•
2-2 Pricing S'ra'egy
•
Commodi'y infla'ion and 5emand elas'ici'y
•
+argins = Cos' cu''ing measures
•
Currency e1posure
•
Inves'ors appealing for a spli' of Snacks and ;everages
•
S'rong gro4'# in snacks business
•
S'rong gro4'# 4i'# "ropicana and (a'orade
•
*eak CS5 s'ra'egy and cul'ure #as impac'ed PepsiCoFs overall s'ock
performance
•
*#ile Coke #as increased by abou' 6-E
•
&ver7spending in marke'ing and adver'ising
•
>raf' and Sara )ee e1ample
Source: M5onF' @ule &u' a Pepsi ;reakup Ye'N, ;arronFs, G!G2-
%D Earnings @elease, &c' 2-
"#e Po4er of &ne
•
"4o po4erful businesses 4or'# ,D; eac#
•
Consump'ion:
?
Planned 'oge'#er
?
;oug#' 'oge'#er
?
Consumed 'oge'#er
•
Synergies uniOue 'o PepsiCo '#a' lead 'o selling = service
advan'ages and efficien' opera'ions:
?
Common +erc#andising
?
Convenience S'ore C#annel
?
5emograp#ics
?
;road Price Poin's
?
Prime7'ime +erc#andising
?
5is'ribu'ion Ne'4orks
?
Ne4 NA) - Year 5eal
Source: %D Earnings @elease, &c' 2-
Public Comparable 0nalysis
•
+ua"er,%utrition
•
S*?:NESN Nes'lS S.0.
;usiness areas include Aood and ;everage, Nes'le *a'ers and Nes'le
Nu'ri'ion.
•
NYSE:>A" >raf' Aoods Inc.
+anufac'ures and marke's packaged food produc's, including biscui's,
confec'ionery, beverages, c#eese, convenien' meals and various packaged
grocery produc's.
•
NYSE:;(S ;=( Aoods Inc.
;=( Aoods, Inc. 9;=( Aoods: manufac'ures, sells and dis'ribu'es a diverse
por'folio of branded s#elf7s'able food produc's.
•
NYSE
IS (eneral +ills, Inc.(lobal manufac'urer and marke'er of consumer foods. produc's ca'egories in
'#e TS include cereals, refrigera'ed yogur', soups, s#elf s'able and froBen
vege'ables, doug# produc's, desser' and baking mi1es, grain, frui' and savory
snacks, and a varie'y of organic produc's.
Public Comparable 0nalysis 7
%uaker
•
@ange: ...3! 'o 8D.8D
•
+edian: 8.-.
•
Price: /.D.
Public Comparable 0nalysis 9con'.:
•
So(t rin"s
•
NYSE:>& "#e Coca7Cola Company
Produce over D,6-- beverages. No'able brands include: Coca7
Cola, Po4erade, Aan'a, Spri'e, 5asani and Ci'amin *a'er
•
NYSE:C&" Co'' Corpora'ion
Produc's: @ed @oos'er, ;lue C#arge
•
NYSE:5PS 5r Pepper Snapple (roup, Inc.
Produc's: 5r Pepper, 8TP, Canada 5ry, @C Cola 5eLa ;lue
•
NasdaO(S:AIUU Na'ional ;everage Corp.
Produc's: S#as'a, Aaygo, Everfres#
Public Comparable 0nalysis < Sof'
5rinks
•
@ange: 6-2! 'o /.8!
•
+edian: 6..3-
•
Price: 23.--
Public Comparable 0nalysis 9con'.:
•
#rito-$ay
•
NasdaO(S
NCE Snyder$s7)ance, Inc.+anufac'urer and dis'ribu'er of snack food produc's, including pre'Bels,
crackers, ke''le c#ips, cookies, po'a'o c#ips and 'or'illa c#ips.
•
NasdaO(S:5+N5 5iamond Aoods, Inc.
Produc's: >e''le ;rand Po'a'o C#ips,
•
NYSE:C0( Con0gra Aoods, Inc.
Consumer Aoods producer. ;rands include ;anOue', 5avid Seeds,
Egg ;ea'ers, Qeal'#y C#oice, Qebre4 Na'ional, Pam and Snack Pack.
•
NYSE:QSY Qers#ey Co.
Snacks
Public Comparable 0nalysis < Ari'o7)ay
•
@ange: 2.62 'o .8.22
•
*eig#': 66.--
•
&'#er mul'iples lo4 so used closer 'o PGE
•
Price: 6.8
Public Comparable 0nalysis 9con'.:
•
Tropicana
•
NasdaO(S:Q0NS Qansen Na'ural Corpora'ion
5evelops, sells and dis'ribu'es beverages. ;rands include +ons'er
Energy, Peace "ea, Qansen$s, Qansen$s Na'ural Sodas, Vunior
Vuice, ;lue Sky, ?7Presso +ons'er, Cidra'ion, Quber'$s, @umba,
Samba and "ango.
•
NYSE:C%; C#iOui'a ;rands In'erna'ional Inc.
Produc's: C#iOui'a Arui' Luices
Public Comparable 0nalysis 7
"ropicana
•
@ange: 8-. 'o 3/.//
•
+edian: -!.3!
•
Price: !.8/
@ecommenda'ion
•
5CA value: ,.6.!D
•
Comps value: ,.8.D
•
Curren' marke' price 92G-.G2-:: ,.3.3-
•
Curren' recommenda'ion: *a'c# )is', bu' 4ould love 'o buy on a
pullback belo4 ,.-
doc_626365839.ppt