Investors might be looking at a great opportunity to buy (NASDAQ: PEP) stock on the cheap right now. The beverage and snack giant has not participated in the 2023 rally so far, and shares remain about where they were when the year began.

That underperformance has come even though Pepsi has announced strong sales and earnings trends in recent quarters. Management even raised its 2023 outlook in late April after demand held up across its packaged foods portfolio.

With that big picture in mind, let's look at a few reasons why investors should consider buying this stock.

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Source Fool.com