76,706 PepsiCo, Inc. $PEP Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 913,232 shares of the company’s stock after selling 76,706 shares during the quarter. Fifth Third Bancorp’s holdings in PepsiCo were worth $115,725,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Evergreen Advisors LLC acquired a new stake in shares of PepsiCo during the first quarter worth approximately $25,000. Montgomery Financial Services LLC acquired a new position in shares of PepsiCo in the 2nd quarter worth approximately $25,000. Next Level Wealth Planning LLC acquired a new position in shares of PepsiCo in the 3rd quarter worth approximately $26,000. Atlatl Advisers LLC acquired a new position in shares of PepsiCo in the 2nd quarter worth approximately $31,000. Finally, Osterweis Capital Management Inc. bought a new stake in PepsiCo during the 2nd quarter worth approximately $31,000. 73.07% of the stock is owned by institutional investors.

More PepsiCo News

Here’s some of the latest news about PEP:

• Positive Sentiment: PepsiCo has increased its dividend annually for decades, a feature that may appeal to income-focused investors. Article: 1 Overlooked Dividend Stock With a 54-Year Winning Streak Worth Buying Now
• Neutral Sentiment: Analysts remain moderately optimistic despite PEP’s underperformance versus the broader market over the past year, suggesting some confidence in its prospects but not a strong near-term catalyst. Article: PepsiCo Stock Outlook: Is Wall Street Bullish or Bearish?
• Negative Sentiment: PepsiCo plans to eliminate about 1,000 North American jobs as it streamlines operations amid sluggish sales, declining beverage volumes, and margin pressure. The cuts could reduce costs, but the demand weakness prompting them is a concern for investors, particularly as consumers shift toward healthier options. Article: PepsiCo Cuts 1,000 Jobs as North American Sales Struggle

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PEP shares. Evercore dropped their price target on PepsiCo from $150.00 to $135.00 in a report on Wednesday, September 30th. Barclays reduced their price objective on PepsiCo from $133.00 to $126.00 and set an “equal weight” rating on the stock in a research note on Monday, October 12th. BNP Paribas Exane decreased their target price on PepsiCo from $161.00 to $157.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. TD Cowen decreased their target price on PepsiCo from $145.00 to $133.00 and set a “hold” rating on the stock in a report on Monday, September 28th. Finally, Freedom Broker upgraded PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Saturday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $143.28.

PepsiCo Stock Up 0.2%

Shares of NASDAQ:PEP opened at $143.94 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.94 and a quick ratio of 0.76. The stock has a market cap of $196.15 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 4.27 and a beta of 0.31. The company has a 50 day moving average of $133.49 and a 200-day moving average of $145.71. PepsiCo, Inc. has a one year low of $123.47 and a one year high of $171.48.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.05. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The business had revenue of $25.27 billion for the quarter, compared to analyst estimates of $24.95 billion. During the same period in the prior year, the business posted $2.29 earnings per share. PepsiCo’s revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ramon Laguarta sold 30,000 shares of the stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $135.13, for a total value of $4,053,900.00. Following the transaction, the chief executive officer owned 491,645 shares of the company’s stock, valued at $66,435,988.85. This represents a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert C. Pohlad purchased 184,646 shares of PepsiCo stock in a transaction dated Wednesday, October 14th. The stock was bought at an average price of $128.28 per share, for a total transaction of $23,686,388.88. Following the completion of the transaction, the director directly owned 433,009 shares in the company, valued at $55,546,394.52. The trade was a 74.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.12% of the stock is currently owned by insiders.

PepsiCo Company Profile

PepsiCo, Inc. is a global food and beverage company that develops, manufactures, markets and distributes a broad range of products. Its portfolio includes snacks such as Lay’s, Doritos and Cheetos, as well as beverages including Pepsi, Gatorade and Mountain Dew. The company was formed in 1965 through the merger of Pepsi-Cola and Frito-Lay. Its products are sold in more than 200 countries and territories through retail, food-service and other distribution channels. PepsiCo is headquartered in Purchase, New York.