NEW YORK (TheStreet) -- Shares of PepsiCo (PEP) - Get Report closed up 0.11% at $102.11 on Monday after the company announced it would put the artificial sweetener aspartame back in its Diet Pepsi formula.
The Purchase, NY-based beverage company dropped aspartame from its ingredient list in August of last year. Since then, sales of the drink fell 5.8% in 2015 and nearly 11% in the first quarter of 2016, Bloomberg reports.
Grappling with plunging sales and fickle customers, PepsiCo announced on Monday that it would bring aspartame back to its Diet Pepsi drinks - now branded in "retro packaging" as "Diet Pepsi Classic Sweetener" - not even a year after removing the ingredient.
But the company's primary diet cola will remain its reformulated drink without aspartame.
The stock's performance was also impacted today by intense pressure on the markets after last week's Brexit vote.
(PepsiCo is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings with a free trial.)
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins and solid stock price performance. TheStreet Ratings feels its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: PEP
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.