TSG Advice Partners LLC Purchases 4,193 Shares of PepsiCo, Inc. $PEP

TSG Advice Partners LLC acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,193 shares of the company’s stock, valued at approximately $568,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Bank of America Corp DE purchased a new stake in shares of PepsiCo in the second quarter valued at approximately $2,755,509,000. Legal & General Group Plc acquired a new position in PepsiCo during the second quarter worth $1,200,274,000. Corient Private Wealth LP purchased a new position in PepsiCo in the second quarter worth $297,116,000. Canada Pension Plan Investment Board purchased a new position in PepsiCo in the second quarter worth $487,558,000. Finally, Assenagon Asset Management S.A. lifted its holdings in PepsiCo by 952.6% in the second quarter. Assenagon Asset Management S.A. now owns 3,715,812 shares of the company’s stock valued at $503,121,000 after acquiring an additional 3,362,794 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 2.2%

PEP opened at $140.42 on Tuesday. 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 cap of $191.36 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 3.96 and a beta of 0.35. PepsiCo, Inc. has a one year low of $123.47 and a one year high of $171.48. The business’s fifty day moving average is $133.43 and its two-hundred day moving average is $145.86.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 7th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.05. The business had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $24.95 billion. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $2.29 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.39 EPS for the current fiscal year.

Insider Transactions at PepsiCo

In related news, CEO Ramon Laguarta sold 30,000 shares of the stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $135.13, for a total value of $4,053,900.00. Following the sale, the chief executive officer directly owned 491,645 shares of the company’s stock, valued at approximately $66,435,988.85. This represents a 5.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Pohlad bought 184,646 shares of the company’s stock in a transaction on Wednesday, October 14th. The shares were acquired at an average price of $128.28 per share, with a total value of $23,686,388.88. Following the completion of the acquisition, the director directly owned 433,009 shares in the company, valued at $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. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on PEP. The Goldman Sachs Group restated a “buy” rating and set a $165.00 target price on shares of PepsiCo in a research report on Thursday, October 8th. Piper Sandler reduced their price objective on shares of PepsiCo from $176.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Barclays reduced their price objective on shares of PepsiCo from $133.00 to $126.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. Wells Fargo & Company lowered their target price on shares of PepsiCo from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, October 5th. Finally, Weiss Ratings lowered shares of PepsiCo from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $143.28.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ:PEP) is a global food and beverage company whose portfolio includes Pepsi-Cola, Mountain Dew, Gatorade, Lay’s, Doritos, Cheetos, Quaker, Tostitos, Fritos, and SodaStream. Its products span carbonated soft drinks, sports and energy beverages, bottled water, juices, convenient foods, snacks, and other packaged food offerings.

The company sells products through retail stores, restaurants, food-service providers, e-commerce platforms, and other distribution channels. PepsiCo serves consumers in North America and international markets across Latin America, Europe, Africa, the Middle East, and Asia-Pacific.