PepsiCo, Inc. $PEP Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 76,162 shares of the company’s stock after selling 5,108 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in PepsiCo were worth $9,651,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PEP. Wilkerson Advisory Group LLC raised its holdings in shares of PepsiCo by 3.3% during the first quarter. Wilkerson Advisory Group LLC now owns 2,040 shares of the company’s stock valued at $317,000 after acquiring an additional 66 shares in the last quarter. Centerpoint Advisors LLC lifted its stake in PepsiCo by 4.1% in the second quarter. Centerpoint Advisors LLC now owns 1,918 shares of the company’s stock worth $260,000 after acquiring an additional 75 shares during the period. JNBA Financial Advisors boosted its holdings in PepsiCo by 2.0% in the second quarter. JNBA Financial Advisors now owns 3,848 shares of the company’s stock valued at $521,000 after acquiring an additional 77 shares in the last quarter. 55 North Private Wealth LLC boosted its holdings in PepsiCo by 4.2% in the second quarter. 55 North Private Wealth LLC now owns 1,918 shares of the company’s stock valued at $260,000 after acquiring an additional 78 shares in the last quarter. Finally, Core Wealth Advisors Inc. boosted its holdings in PepsiCo by 3.5% in the first quarter. Core Wealth Advisors Inc. now owns 2,335 shares of the company’s stock valued at $363,000 after acquiring an additional 79 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Insider Transactions at PepsiCo

In other news, Director Robert Pohlad purchased 184,646 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The shares were bought at an average price of $128.28 per share, for a total transaction of $23,686,388.88. Following the purchase, the director directly owned 433,009 shares in the company, valued at approximately $55,546,394.52. This trade represents a 74.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $4,053,900.00. Following the sale, the chief executive officer owned 491,645 shares of the company’s stock, valued at approximately $66,435,988.85. This represents a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company’s stock.

Key PepsiCo News

Here’s some of the latest news about PEP:

• 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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PEP shares. Citigroup reissued a “buy” rating on shares of PepsiCo in a research report on Friday, October 9th. Deutsche Bank reaffirmed a “hold” rating and issued a $132.00 target price on shares of PepsiCo in a research report on Friday, October 9th. TD Cowen cut their target price on shares of PepsiCo from $145.00 to $133.00 and set a “hold” rating on the stock in a research note on Monday, September 28th. Barclays cut their target price on shares of PepsiCo from $133.00 to $126.00 and set an “equal weight” rating on the stock in a research note on Monday, October 12th. Finally, Wells Fargo & Company decreased their price target on shares of PepsiCo from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, October 5th. One 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $143.28.

PepsiCo Stock Down 1.2%

Shares of NASDAQ:PEP opened at $142.26 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.76 and a debt-to-equity ratio of 1.90. The stock has a fifty day simple moving average of $133.53 and a two-hundred day simple moving average of $145.70. PepsiCo, Inc. has a 12-month low of $123.47 and a 12-month high of $171.48. The stock has a market capitalization of $193.86 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 4.28 and a beta of 0.31.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 7th. The company reported $2.34 EPS for the quarter, topping 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 firm had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $24.95 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts anticipate that PepsiCo, Inc. will post 8.42 earnings per share for the current fiscal year.

PepsiCo Company 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.