PepsiCo, Inc. $PEP Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 913,232 shares of the company’s stock after selling 76,706 shares during the period. Fifth Third Bancorp owned 0.07% of PepsiCo worth $115,725,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PEP. Core Capital Management & Research inc. acquired a new stake in PepsiCo in the 2nd quarter valued at approximately $932,000. State Street Corp increased its position in PepsiCo by 1.7% in the 2nd quarter. State Street Corp now owns 60,406,932 shares of the company’s stock worth $8,179,099,000 after buying an additional 987,582 shares during the period. First Nebraska Trust Co acquired a new position in shares of PepsiCo during the first quarter worth approximately $10,782,000. The Manufacturers Life Insurance Company lifted its holdings in shares of PepsiCo by 19.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,110,852 shares of the company’s stock worth $150,409,000 after buying an additional 177,468 shares during the last quarter. Finally, Bell Bank boosted its position in shares of PepsiCo by 23.3% in the third quarter. Bell Bank now owns 83,997 shares of the company’s stock valued at $10,644,000 after acquiring an additional 15,858 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $143.94 on Thursday. 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 firm’s 50-day simple moving average is $133.49 and its 200-day simple moving average is $145.71. PepsiCo, Inc. has a twelve month low of $123.47 and a twelve month high of $171.48. The firm has a market cap of $196.15 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 4.27 and a beta of 0.31.

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

Recent PepsiCo Headlines

Investors following PEP have been watching these headlines:

• 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

Insider Activity at PepsiCo

In other news, CEO Ramon Laguarta sold 30,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 491,645 shares in the company, valued at approximately $66,435,988.85. This represents a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Pohlad bought 184,646 shares of the company’s stock in a transaction dated Wednesday, October 14th. The stock was bought at an average cost of $128.28 per share, with a total value of $23,686,388.88. Following the completion of the acquisition, the director owned 433,009 shares in the company, valued at $55,546,394.52. This represents a 74.35% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PEP. Freedom Broker upgraded shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Saturday, October 10th. UBS Group cut 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 reiterated a “buy” rating and set a $165.00 target price on shares of PepsiCo in a research note on Thursday, October 8th. Sanford C. Bernstein reissued a “market perform” rating on shares of PepsiCo in a report on Friday, October 9th. Finally, BNP Paribas Exane decreased their price target on shares of PepsiCo from $161.00 to $157.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $143.28.

PepsiCo 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.