PepsiCo, Inc. $PEP Stock Sold by CENTRAL TRUST Co

CENTRAL TRUST Co decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,417 shares of the company’s stock after selling 8,087 shares during the period. CENTRAL TRUST Co’s holdings in PepsiCo were worth $17,667,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PEP. BlackRock Inc. boosted its holdings in PepsiCo by 2.1% in the 2nd quarter. BlackRock Inc. now owns 118,281,854 shares of the company’s stock valued at $16,015,363,000 after purchasing an additional 2,440,377 shares during the period. State Street Corp increased its holdings in shares of PepsiCo by 1.7% during the 2nd 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 during the period. Bank of America Corp DE increased its holdings in shares of PepsiCo by 0.6% during the 1st 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PepsiCo by 4.9% during 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 valued at $1,600,114,000 after buying an additional 549,336 shares during the last quarter. Finally, Amundi raised its position in shares of PepsiCo by 16.8% during the first quarter. Amundi now owns 11,444,671 shares of the company’s stock valued at $1,777,243,000 after buying an additional 1,647,506 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Insider Activity

In other PepsiCo news, CEO Ramon Laguarta sold 30,000 shares of the business’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 in the company, valued at $66,435,988.85. The trade was a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert C. Pohlad acquired 184,646 shares of the firm’s stock in a transaction on Wednesday, October 14th. The shares were purchased 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 of the company’s stock, valued at approximately $55,546,394.52. The trade was a 74.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.12% of the stock is currently owned by corporate insiders.

PepsiCo News Summary

Here’s some of the latest news about PEP:

• 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

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $143.94 on Thursday. The business’s fifty day moving average price is $133.49 and its two-hundred day moving average price is $145.71. PepsiCo, Inc. has a fifty-two week low of $123.47 and a fifty-two week high of $171.48. The stock has a market capitalization of $196.15 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 4.27 and a beta of 0.31. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.94 and a quick ratio of 0.76.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 earnings per share (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 company had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $24.95 billion. During the same period last year, the business earned $2.29 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. As a group, analysts predict that PepsiCo, Inc. will post 8.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PEP. Citigroup reiterated a “buy” rating on shares of PepsiCo in a research note on Friday, October 9th. Weiss Ratings cut PepsiCo from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 24th. TD Cowen cut their price target on PepsiCo from $145.00 to $133.00 and set a “hold” rating for the company in a report on Monday, September 28th. Freedom Broker upgraded PepsiCo from a “hold” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of PepsiCo in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $143.28.

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.