Shares of food and beverage giant PepsiCo Inc. are showing weakness, lagging behind the broader consumer staples sector. The company’s stock has pulled back seventeen point seven percent from its fifty-two-week high of one hundred seventy-one point forty-eight dollars, and is down one point seven percent year-to-date, while the sector ETF (XLP) recorded a ten percent gain.

The company’s quotes remain under pressure: since March they have been trading below their fifty-day moving average, and since May below their two-hundred-day moving average.

A two percent decline in North American food sales reflected weaker demand for snacks and lower effective pricing following discounts on brands like Lay’s and Doritos. Investors were further concerned by rising commodity, packaging, and logistics costs, as well as high fuel prices that weighed on consumer purchasing power.

Despite second-quarter twenty twenty-six revenue rising six point four percent to twenty-four point eighteen billion dollars and core earnings per share increasing to two point twenty dollars, the company failed to inspire the market. PepsiCo left its full-year guidance unchanged, projecting organic revenue growth of two to four percent, while its primary rival, The Coca-Cola Company, saw its shares rise twenty-eight point three percent year-to-date.