92,157 PepsiCo, Inc. $PEP Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 23.1% in the third quarter, Holdings Channel.com reports. The firm owned 307,178 shares of the company’s stock after selling 92,157 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in PepsiCo were worth $38,991,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. grew its stake in PepsiCo by 2.1% during the 2nd quarter. BlackRock Inc. now owns 118,281,854 shares of the company’s stock valued at $16,015,363,000 after acquiring an additional 2,440,377 shares in the last quarter. State Street Corp lifted its position in shares of PepsiCo by 1.7% in the second quarter. State Street Corp now owns 60,406,932 shares of the company’s stock worth $8,179,099,000 after purchasing an additional 987,582 shares in the last quarter. Bank of America Corp DE lifted its position in shares of PepsiCo by 0.6% in the first quarter. Bank of America Corp DE now owns 21,283,701 shares of the company’s stock worth $3,305,146,000 after purchasing an additional 133,325 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of PepsiCo by 4.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,817,684 shares of the company’s stock worth $1,600,114,000 after purchasing an additional 549,336 shares in the last quarter. Finally, Amundi boosted its holdings in shares of PepsiCo by 16.8% during the first quarter. Amundi now owns 11,444,671 shares of the company’s stock worth $1,777,243,000 after purchasing an additional 1,647,506 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Insider Activity at PepsiCo

In other news, CEO Ramon Laguarta sold 30,000 shares of the business’s 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 completion of the sale, the chief executive officer directly owned 491,645 shares in the company, valued at approximately $66,435,988.85. The trade was a 5.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert C. Pohlad acquired 184,646 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The shares were purchased 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 trade represents a 74.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PEP shares. Evercore lowered their price objective on shares of PepsiCo from $150.00 to $135.00 in a research report on Wednesday, September 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $165.00 target price on shares of PepsiCo in a research report on Thursday, October 8th. TD Cowen decreased their target price on shares of PepsiCo from $145.00 to $133.00 and set a “hold” rating for the company in a research note on Monday, September 28th. Weiss Ratings cut shares of PepsiCo from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 24th. Finally, Wells Fargo & Company dropped their price target on shares of PepsiCo from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $143.28.

PepsiCo Price Performance

NASDAQ PEP opened at $145.44 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.94 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $198.20 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 4.23 and a beta of 0.31. The company has a 50 day moving average price of $133.64 and a two-hundred day moving average price of $145.68. PepsiCo, Inc. has a 12-month low of $123.47 and a 12-month high of $171.48.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, October 7th. The company reported $2.34 EPS for the quarter, topping 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%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 earnings per share. As a group, equities analysts predict that PepsiCo, Inc. will post 8.42 earnings per share for the current fiscal year.

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.