Better Buy: Coca-Cola vs. PepsiCo

Coca-Cola (NYSE: KO) and PepsiCo (NASDAQ: PEP) are both considered dependable defensive stocks during bear markets. Both packaged food makers own evergreen brands, generate plenty of cash, and consistently repurchase their own shares while paying out high dividends.

Both stocks have risen more than 10% over the past 12 months as inflation, rising interest rates, the Ukrainian war, and other macroeconomic headwinds caused the S&P 500 to dip about 6%. Should investors buy either of these soda stocks to hedge against deeper market declines?

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Source Fool.com