PepsiCo, Inc. $PEP Stock: Welch & Forbes LLC Decreases Stake

Welch & Forbes LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,837 shares of the company’s stock after selling 12,688 shares during the period. Welch & Forbes LLC’s holdings in PepsiCo were worth $49,400,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Evergreen Advisors LLC purchased a new stake in PepsiCo in the 1st quarter worth $25,000. Montgomery Financial Services LLC bought a new stake in PepsiCo during the second quarter valued at about $25,000. Next Level Wealth Planning LLC bought a new position in shares of PepsiCo in the third quarter worth about $26,000. Atlatl Advisers LLC bought a new position in PepsiCo in the 2nd quarter worth approximately $31,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of PepsiCo during the second quarter worth $31,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of a number of recent research reports. Sanford C. Bernstein reissued a “market perform” rating on shares of PepsiCo in a report on Friday, October 9th. Barclays decreased 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. The Goldman Sachs Group reissued a “buy” rating and set a $165.00 target price on shares of PepsiCo in a research note on Thursday, October 8th. 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 report on Tuesday, October 6th. Finally, TD Cowen dropped their target price on shares of PepsiCo from $145.00 to $133.00 and set a “hold” rating on the stock in a research note on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $143.28.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $141.88 on Tuesday. The company has a market capitalization of $193.35 billion, a PE ratio of 17.82, a P/E/G ratio of 4.24 and a beta of 0.31. The company has a 50-day simple moving average of $133.35 and a two-hundred day simple moving average of $145.72. PepsiCo, Inc. has a one year low of $123.47 and a one year 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.

PepsiCo (NASDAQ:PEP) last announced its earnings results 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. The company had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $24.95 billion. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. PepsiCo’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $2.29 earnings per share. Research analysts expect that PepsiCo, Inc. will post 8.42 EPS for the current fiscal year.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Consumer stocks, including the consumer-staples sector, were higher late Monday, providing a supportive backdrop for PEP. Read More.
• Positive Sentiment: PepsiCo is emphasizing zero-sugar drinks, flavored sodas and functional hydration to respond to changing preferences and pursue beverage growth. The strategy is supported by reported traction in zero-sugar offerings, though broader demand remains a question. Read More.
• Positive Sentiment: PepsiCo renewed beverage-supply agreements with KFC in eight international markets, retaining an important customer channel outside the U.S. Read More.
• Neutral Sentiment: The company is expanding holiday retail and marketing efforts, including campaigns tied to football. This could support brand visibility, but the article gives no sales impact. Read More.
• Negative Sentiment: PepsiCo plans to cut about 1,000 North American jobs as part of a turnaround and effort to streamline operations. Potential cost savings may help, but the cuts also underscore struggles in a key business region. Read More.
• Negative Sentiment: Poppi’s founders launched Jetty, a hydration brand entering a category that includes PepsiCo’s Gatorade. The new competitor may add pressure in functional beverages, although its near-term effect on PepsiCo is uncertain. Read More.

Insiders Place Their Bets

In other PepsiCo news, CEO Ramon Laguarta sold 30,000 shares of the firm’s 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 completion of the sale, the chief executive officer owned 491,645 shares of the company’s stock, valued at approximately $66,435,988.85. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert C. Pohlad purchased 184,646 shares of the stock in a transaction on Wednesday, October 14th. The stock was 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 approximately $55,546,394.52. This represents a 74.35% increase in their position. The SEC filing for this purchase provides additional information. 0.12% of the stock is owned by company 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.