Pepsi is 'priced for perfection,' as earnings beat estimates

The food and beverage giant's fiscal second-quarter earnings report topped analysts' estimates on Tuesday, showing strong sales and solid growth.

"The stock is ... kind of expensive. I know it's got nearly a 3% dividend yield, but it's expected to actually have an [earnings-per-share] decline year over year this year with low-single-digit sales growth, so it's kind of priced for perfection," Nathan said Monday on CNBC's "Options Action." "This'll be a really interesting early gauge for a lot of these defensive names, how they report and how the stock reacts [Tuesday].

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