In the latest trading session, PepsiCo (PEP) closed at $129.35, marking a +1.52% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.58%. Meanwhile, the Dow gained 0.45%, and the Nasdaq, a tech-heavy index, added 1.13%.Heading into today, shares of the food and beverage company had gained 4.08% over the past month, outpacing the Consumer Staples sector's gain of 1.02% and the S&P 500's loss of 2.34% in that time.PEP will be looking to display strength as it nears its next earnings release, which is expected to be July 9, 2019. On that day, PEP is projected to report earnings of $1.50 per share, which would represent a year-over-year decline of 6.83%. Our most recent consensus estimate is calling for quarterly revenue of $16.42 billion, up 2.08% from the year-ago period.PEP's full-year Zacks Consensus Estimates are calling for earnings of $5.51 per share and revenue of $66.52 billion. These results would represent year-over-year changes of -2.65% and +2.88%, respectively.Investors might also notice recent changes to analyst estimates for PEP. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.22% higher. PEP is currently sporting a Zacks Rank of #2 (Buy).Digging into valuation, PEP currently has a Forward P/E ratio of 23.12. For comparison, its industry has an average Forward P/E of 23.12, which means PEP is trading at a no noticeable deviation to the group.Meanwhile, PEP's PEG ratio is currently 3.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Beverages - Soft drinks industry currently had an average PEG ratio of 2.11 as of yesterday's close.The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 111, putting it in the top 44% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pepsico, Inc. (PEP): Free Stock Analysis Report To read this article on Zacks.com click here.