Snack on this

If you’re looking for a resilient investment during this pandemic, consider PepsiCo (NASDAQ: PEP). It’s not simply a beverage company, as many people assume; it also owns the Frito-Lay family of snacks and the Quaker Foods business. In fiscal 2019, PepsiCo generated 46 percent of its revenue from beverages and 54 percent from foods. It’s also very much a global company, with 42 percent of revenue coming from outside the U.S. in fiscal 2019. To grasp just how dominant PepsiCo is in the food and beverage business, check out some of its brands: Pepsi-Cola, Lay’s, Doritos, Aquafina, Mountain Dew, Gatorade, Pure Leaf, Tropicana, Quaker Oats, Brisk, Smartfood, Ruffles, Cheetos, Fritos, Tostitos, Rold Gold, Funyuns, Life cereal, Cracker Jack, Rice-A-Roni, Sierra Mist, 7UP, Naked, Near East, and Walkers. Fully 23 of its brands each generate more than $1 billion in annual revenue. PepsiCo isn’t resting on its laurels. It’s boosting its popular energy-drink offerings, and it’s building a direct-to-consumer revenue channel via its PantryShop.com and Snacks.com websites. PepsiCo’s dividend recently yielded almost 3 percent, and that payout has been increased annually for 48 consecutive years. (The most recent increase was 7 percent.) The company’s market value was recently around $190 billion, and its forward-looking price-toearnings (P/E) ratio was recently in the mid-20s; these suggest that it’s not a screaming bargain, but it’s not wildly overpriced, either.