PepsiCo, Inc. $PEP Shares Sold by SVB Wealth LLC

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 disclosure with the SEC. The institutional investor owned 38,005 shares of the company’s stock after selling 6,730 shares during the period. SVB Wealth LLC’s holdings in PepsiCo were worth $4,816,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of America Corp DE purchased a new position in shares of PepsiCo in the 2nd quarter valued at $2,755,509,000. Legal & General Group Plc bought a new position in shares of PepsiCo in the 2nd quarter worth $1,200,274,000. Corient Private Wealth LP bought a new position in shares of PepsiCo in the 2nd quarter worth $297,116,000. Canada Pension Plan Investment Board purchased a new stake in shares of PepsiCo during the 2nd quarter worth $487,558,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of PepsiCo by 952.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,715,812 shares of the company’s stock worth $503,121,000 after purchasing an additional 3,362,794 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

NASDAQ:PEP opened at $142.26 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.94 and a quick ratio of 0.76. The firm has a market cap of $193.86 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 4.28 and a beta of 0.31. The company has a 50 day moving average price of $133.53 and a 200-day moving average price of $145.70. PepsiCo, Inc. has a 1-year low of $123.47 and a 1-year high of $171.48.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 EPS 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 was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 earnings per share. Equities research analysts forecast that PepsiCo, Inc. will post 8.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PEP. Royal Bank Of Canada reduced their target price on shares of PepsiCo from $161.00 to $150.00 and set a “sector perform” rating for the company in a report on Tuesday, October 6th. Morgan Stanley set a $145.00 price target on shares of PepsiCo in a report on Friday, October 9th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of PepsiCo in a research report on Friday, October 9th. Weiss Ratings lowered shares of PepsiCo from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. Finally, Piper Sandler decreased their target price on shares of PepsiCo from $176.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $143.28.

Key Headlines Impacting PepsiCo

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

• 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
• Neutral Sentiment: PepsiCo plans to eliminate about 1,000 North American jobs as part of a turnaround effort backed by activist investor Elliott. The cuts aim to simplify operations and improve productivity, but the financial benefit is not yet specified. PepsiCo plans 1,000 North America job cuts
• 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

Insiders Place Their Bets

In other news, CEO Ramon Laguarta sold 30,000 shares of the firm’s 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 transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Pohlad bought 184,646 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was acquired at an average cost of $128.28 per share, for a total transaction of $23,686,388.88. Following the completion of the purchase, the director directly owned 433,009 shares in the company, valued at approximately $55,546,394.52. This represents a 74.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.12% of the company’s stock.

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.