PEPSICO INC. $97 (New York symbol PEP; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 1.5 billion; Market cap: $145.5 billion; Price-to-sales ratio: 2.2; Dividend yield: 3.1%; TSINetwork Rating: Above Average; www. pepsico.com) has replaced rival Coca-Cola (New York symbol KO) as the official soft drink sponsor of the National Basketball Association.
Coca-Cola still has marketing deals with some NBA teams and players, but this new multi-year agreement will let PepsiCo promote a wider range of products, such as Gatorade sports drinks and Frito-Lay snack foods, on NBA television broadcasts and other league events.
PepsiCo is a hold.