Dan Hanson, Portfolio Manager at Jarislowsky Fraser Global Investment Management, says PepsiCo, Inc. (NYSE:PEP) is being proactive in diversifying its portfolio of products to stay in line with the health interests of consumers.
Pepsi…is a business we own where they likewise have some exposure to this negative CSD volume trend, but we think management is very mindful of those issues, and so they have very proactively expanded their portfolio of beverages to include capabilities that are much more in synch with the health and wellness interests of the consumer.
And then, at the same time, they have a much more diversified portfolio relative to Coca-Cola. In Frito-Lay, they’ve got a world-class snacking business, which is really a gem of a business that we think is underappreciated. And that, in my mind, is an example of how, regardless of whether you wear the label of sustainability as an investor, having an understanding of those issues can be very helpful in illuminating both risks and opportunities.
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