NEW YORK (TheStreet) -- PepsiCo (PEP) - Get Report stock is up 0.88% to $103.04 this afternoon after the company announced it would be bringing back Crystal Pepsi, a colorless cola previously launched in 1992.
Crystal Pepsi's share of the U.S. soda market hit a peak of 0.5% in 1993, far below expectations of 2%, the Wall Street Journal reports. The product is scheduled to return to U.S. shelves for a limited time on August 8.
Today's announcement follows another PepsiCo product adjustment this week aimed at winning back customers.
On Monday, the company revealed it would bring back its Diet Pepsi formula containing the artificial sweetener aspartame. Diet Pepsi sales have tanked this year after the company switched its sweetener to sucralose in August of 2015.
The original formula Diet Pepsi will be marketed in "retro packaging" in an attempt to appeal to consumer nostalgia - much like with Crystal Pepsi's upcoming return.
U.S. soda consumption in general is at a three-decade low, according to the Wall Street Journal, but PepsiCo hopes to conquer more of that market with these product changes.
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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
Recently, 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.