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NEW YORK (AP) - PepsiCo Inc. said Wednesday it would buy back more shares and increase dividend payouts, a move to boost shareholder returns after investors had pressed the company to be more aggressive with its cash.
Goldman Sachs analyst Judy Hong said the company's announcement "should help to mollify investors that have been agitating for more aggressive use of the balance sheet."
Morgan Stanley analyst Bill Pecoriello said the move indicated the company's confidence in its business outlook while maintaining flexibility to make acquisitions.
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