Maryland State Retirement & Pension System boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 13.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 84,013 shares of the company’s stock after buying an additional 10,271 shares during the quarter. Maryland State Retirement & Pension System’s holdings in PepsiCo were worth $10,646,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. UNIVEST FINANCIAL Corp grew its holdings in PepsiCo by 6.5% during the third quarter. UNIVEST FINANCIAL Corp now owns 30,050 shares of the company’s stock valued at $3,808,000 after purchasing an additional 1,827 shares during the period. NBH Bank raised its stake in shares of PepsiCo by 2.0% in the third quarter. NBH Bank now owns 8,276 shares of the company’s stock worth $1,049,000 after buying an additional 166 shares during the period. Joel Isaacson & Co. LLC lifted its position in shares of PepsiCo by 3.2% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 15,973 shares of the company’s stock valued at $2,024,000 after buying an additional 489 shares in the last quarter. Jacobi Capital Management LLC grew its stake in shares of PepsiCo by 3.1% during the 3rd quarter. Jacobi Capital Management LLC now owns 55,656 shares of the company’s stock valued at $7,053,000 after acquiring an additional 1,664 shares during the period. Finally, Jefferies Financial Group Inc. grew its stake in shares of PepsiCo by 237.2% during the 3rd quarter. Jefferies Financial Group Inc. now owns 59,086 shares of the company’s stock valued at $7,487,000 after acquiring an additional 41,565 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at PepsiCo
In other news, Director Robert C. Pohlad acquired 184,646 shares of PepsiCo stock in a transaction that occurred on Wednesday, October 14th. The shares were bought at an average cost of $128.28 per share, with a total value of $23,686,388.88. Following the transaction, the director directly owned 433,009 shares of the company’s stock, valued at $55,546,394.52. This trade represents a 74.35% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $4,053,900.00. Following the completion of the sale, the chief executive officer directly owned 491,645 shares of the company’s stock, valued at approximately $66,435,988.85. The trade was a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.12% of the company’s stock.
PepsiCo Stock Up 0.2%
Shares of PEP opened at $143.94 on Thursday. The business’s 50 day moving average is $133.49 and its 200 day moving average is $145.71. The company has a market capitalization of $196.15 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 4.27 and a beta of 0.31. PepsiCo, Inc. has a 12-month low of $123.47 and a 12-month high of $171.48. The company has a current ratio of 0.94, a quick ratio of 0.76 and a debt-to-equity ratio of 1.90.
PepsiCo (NASDAQ:PEP – Get Free Report) last posted its quarterly earnings results on Wednesday, October 7th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.05. The business had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $24.95 billion. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 EPS. Research analysts expect that PepsiCo, Inc. will post 8.42 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
PEP has been the topic of several analyst reports. Deutsche Bank reaffirmed a “hold” rating and set a $132.00 price target 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 on the stock in a research report on Monday, October 12th. Royal Bank Of Canada lowered their target price on shares of PepsiCo from $161.00 to $150.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 6th. BNP Paribas Exane dropped their target price on shares of PepsiCo from $161.00 to $157.00 and set an “outperform” rating for the company in a report on Friday, October 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of PepsiCo in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.28.
Read Our Latest Report on PepsiCo
Recent PepsiCo Headlines
Here are a few of the latest headlines 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
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.
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