PepsiCo, Inc. $PEP Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 139,417 shares of the company’s stock after selling 8,087 shares during the period. CENTRAL TRUST Co’s holdings in PepsiCo were worth $17,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evergreen Advisors LLC acquired a new position in PepsiCo during the 1st quarter worth about $25,000. Montgomery Financial Services LLC bought a new stake in PepsiCo during the 2nd quarter worth about $25,000. Next Level Wealth Planning LLC bought a new stake in PepsiCo during the 3rd quarter worth about $26,000. Atlatl Advisers LLC acquired a new stake in PepsiCo in the 2nd quarter valued at about $31,000. Finally, Osterweis Capital Management Inc. acquired a new stake in PepsiCo in the 2nd quarter valued at about $31,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PEP stock opened at $143.94 on Thursday. The firm’s 50 day moving average price is $133.49 and its two-hundred day moving average price is $145.71. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.76 and a current ratio of 0.94. PepsiCo, Inc. has a 52-week low of $123.47 and a 52-week high of $171.48. The stock has a market cap of $196.15 billion, a PE ratio of 18.08, a PEG ratio of 4.27 and a beta of 0.31.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 7th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.29 by $0.05. The company had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $24.95 billion. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. As a group, analysts forecast that PepsiCo, Inc. will post 8.42 EPS for the current year.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research analyst reports. Freedom Broker raised shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Piper Sandler decreased their price target on shares of PepsiCo from $176.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Wells Fargo & Company lowered their price target on shares of PepsiCo from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, October 5th. BNP Paribas Exane dropped their price objective on shares of PepsiCo from $161.00 to $157.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of PepsiCo in a report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $143.28.

Key Headlines Impacting PepsiCo

Here are a few of the latest headlines 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

Insiders Place Their Bets

In other PepsiCo news, CEO Ramon Laguarta sold 30,000 shares of the stock in a transaction dated 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 approximately $66,435,988.85. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert C. Pohlad bought 184,646 shares of PepsiCo stock in a transaction on Wednesday, October 14th. The shares were bought at an average price of $128.28 per share, for a total transaction of $23,686,388.88. Following the acquisition, the director owned 433,009 shares of the company’s stock, valued at approximately $55,546,394.52. The trade was a 74.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.12% of the stock is owned by insiders.

About PepsiCo

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.