SVB Wealth LLC Sells 6,730 Shares of PepsiCo, Inc. $PEP

SVB Wealth LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,005 shares of the company’s stock after selling 6,730 shares during the quarter. SVB Wealth LLC’s holdings in PepsiCo were worth $4,816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of PepsiCo by 2.1% in the second quarter. BlackRock Inc. now owns 118,281,854 shares of the company’s stock valued at $16,015,363,000 after acquiring an additional 2,440,377 shares in the last quarter. State Street Corp grew its stake in PepsiCo by 1.7% during the 2nd quarter. State Street Corp now owns 60,406,932 shares of the company’s stock worth $8,179,099,000 after purchasing an additional 987,582 shares in the last quarter. Bank of America Corp DE grew its stake in PepsiCo by 0.6% during the 1st quarter. Bank of America Corp DE now owns 21,283,701 shares of the company’s stock worth $3,305,146,000 after purchasing an additional 133,325 shares in the last quarter. Amundi increased its holdings in PepsiCo by 16.8% during the 1st quarter. Amundi now owns 11,444,671 shares of the company’s stock worth $1,777,243,000 after purchasing an additional 1,647,506 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in PepsiCo by 4.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,817,684 shares of the company’s stock worth $1,600,114,000 after purchasing an additional 549,336 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Top PepsiCo Stories

These are some of the PEP stories that stood out recently:

• Positive Sentiment: Wall Street analysts remain moderately optimistic about PepsiCo’s prospects despite its underperformance over the past year, offering some support for the longer-term outlook. PepsiCo Stock Outlook: Is Wall Street Bullish or Bearish?
• Positive Sentiment: New seasonal flavors for Lay’s, Doritos, Cheetos and Pepsi could help refresh the product lineup and attract holiday shoppers, though the article provides no sales outlook. PepsiCo launches new holiday flavors
• Negative Sentiment: The workforce reduction comes amid sluggish North American sales and declining beverage volumes, with consumers shifting away from sugary sodas. That suggests the company’s challenges are not limited to costs and may require a turnaround in demand. PepsiCo to cut about 1,000 North American jobs

PepsiCo Stock Down 1.2%

PepsiCo stock opened at $142.26 on Friday. PepsiCo, Inc. has a fifty-two week low of $123.47 and a fifty-two week high of $171.48. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.76 and a current ratio of 0.94. The company has a market capitalization of $193.86 billion, a P/E ratio of 17.87, a PEG ratio of 4.28 and a beta of 0.31. The stock has a 50-day simple moving average of $133.53 and a 200-day simple moving average of $145.70.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, October 7th. The company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the firm posted $2.29 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PEP shares. Morgan Stanley set a $145.00 price objective on PepsiCo in a research note on Friday, October 9th. Deutsche Bank reissued a “hold” rating and set a $132.00 price objective on shares of PepsiCo in a research report on Friday, October 9th. Evercore cut their target price on shares of PepsiCo from $150.00 to $135.00 in a research note on Wednesday, September 30th. Freedom Broker raised shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a report on Saturday, October 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $138.00 to $137.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. One equities research 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $143.28.

Insider Buying and Selling at PepsiCo

In other news, CEO Ramon Laguarta sold 30,000 shares of the business’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $135.13, for a total transaction of $4,053,900.00. Following the transaction, the chief executive officer directly owned 491,645 shares in the company, valued at $66,435,988.85. The trade was a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Pohlad bought 184,646 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were acquired at an average cost of $128.28 per share, with a total value of $23,686,388.88. Following the completion of the purchase, the director owned 433,009 shares in the company, valued at approximately $55,546,394.52. This represents a 74.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.12% of the company’s stock.

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.