PepsiCo, Inc. $PEP Stock: Illinois Municipal Retirement Fund Increases Holdings

Illinois Municipal Retirement Fund grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,016 shares of the company’s stock after purchasing an additional 10,017 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in PepsiCo were worth $33,710,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wilkerson Advisory Group LLC raised its stake in PepsiCo by 3.3% in the first quarter. Wilkerson Advisory Group LLC now owns 2,040 shares of the company’s stock valued at $317,000 after buying an additional 66 shares during the last quarter. Centerpoint Advisors LLC grew its stake in shares of PepsiCo by 4.1% during the second quarter. Centerpoint Advisors LLC now owns 1,918 shares of the company’s stock worth $260,000 after acquiring an additional 75 shares during the last quarter. JNBA Financial Advisors grew its stake in shares of PepsiCo by 2.0% during the second quarter. JNBA Financial Advisors now owns 3,848 shares of the company’s stock worth $521,000 after acquiring an additional 77 shares during the last quarter. 55 North Private Wealth LLC increased its holdings in shares of PepsiCo by 4.2% during the second quarter. 55 North Private Wealth LLC now owns 1,918 shares of the company’s stock valued at $260,000 after acquiring an additional 78 shares in the last quarter. Finally, Core Wealth Advisors Inc. increased its holdings in shares of PepsiCo by 3.5% during the first quarter. Core Wealth Advisors Inc. now owns 2,335 shares of the company’s stock valued at $363,000 after acquiring an additional 79 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo News Summary

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo plans to eliminate about 1,000 North American roles as part of a broader effort to simplify operations and improve execution. If the restructuring reduces costs, it could support margins over time. PepsiCo to cut about 1,000 jobs as North American business struggles
• Positive Sentiment: PepsiCo is emphasizing zero-sugar drinks, flavored sodas and functional hydration to address changing preferences and strengthen beverage demand. Can PepsiCo’s Zero-Sugar Strategy Strengthen Beverage Demand?
• Neutral Sentiment: The company renewed overseas beverage-supply agreements with KFC in several markets, maintaining an established distribution relationship. PepsiCo renews overseas KFC contracts
• Negative Sentiment: The layoffs come amid sluggish North American sales, volume declines and margin pressure. That points to ongoing operating challenges and could temper optimism about the potential savings, particularly as the turnaround has yet to gain traction. PepsiCo to cut over 1,000 jobs amid sluggish sales in North American market

Analyst Ratings Changes

PEP has been the subject of a number of recent analyst reports. UBS Group lowered their target price on shares of PepsiCo from $159.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $165.00 price target on shares of PepsiCo in a report on Thursday, October 8th. Freedom Broker upgraded shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Royal Bank Of Canada lowered their price objective on shares of PepsiCo from $161.00 to $150.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 6th. Finally, BNP Paribas Exane dropped their price objective on shares of PepsiCo from $161.00 to $157.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. One 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 MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $143.28.

PepsiCo Trading Up 1.2%

PepsiCo stock opened at $143.61 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.94 and a debt-to-equity ratio of 1.90. PepsiCo, Inc. has a 52 week low of $123.47 and a 52 week high of $171.48. The company has a market capitalization of $195.70 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 4.22 and a beta of 0.31. The stock has a 50-day moving average price of $133.41 and a 200 day moving average price of $145.72.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 7th. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.05. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. The firm had revenue of $25.27 billion for the quarter, compared to analyst estimates of $24.95 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. PepsiCo’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.42 EPS for the current year.

Insider Activity at PepsiCo

In other news, CEO Ramon Laguarta sold 30,000 shares of the stock in a transaction on 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 owned 491,645 shares in the company, valued at $66,435,988.85. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Pohlad bought 184,646 shares of PepsiCo stock in a transaction that occurred on 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 acquisition, the director owned 433,009 shares of the company’s stock, 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. Insiders own 0.12% of the company’s stock.

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.