PepsiCo, Inc. $PEP Stock Position Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,803,382 shares of the company’s stock after selling 95,506 shares during the period. Russell Investments Group Ltd. owned 0.13% of PepsiCo worth $229,181,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Van Strum & Towne Inc. boosted its position in PepsiCo by 2.7% in the 3rd quarter. Van Strum & Towne Inc. now owns 41,866 shares of the company’s stock valued at $5,305,000 after buying an additional 1,114 shares during the last quarter. Three Bridge Wealth Advisors LLC raised its position in shares of PepsiCo by 5.2% during the third quarter. Three Bridge Wealth Advisors LLC now owns 3,650 shares of the company’s stock worth $463,000 after acquiring an additional 180 shares during the last quarter. CFM Wealth Partners LLC raised its position in shares of PepsiCo by 18.7% during the third quarter. CFM Wealth Partners LLC now owns 3,659 shares of the company’s stock worth $464,000 after acquiring an additional 576 shares during the last quarter. Bingham Private Wealth LLC lifted its stake in shares of PepsiCo by 2.9% during the third quarter. Bingham Private Wealth LLC now owns 5,317 shares of the company’s stock valued at $674,000 after acquiring an additional 152 shares during the period. Finally, Maryland State Retirement & Pension System lifted its stake in shares of PepsiCo by 13.9% during the third quarter. Maryland State Retirement & Pension System now owns 84,013 shares of the company’s stock valued at $10,646,000 after acquiring an additional 10,271 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Recent PepsiCo Headlines

Here are a few of the latest headlines 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

PepsiCo Stock Down 1.2%

Shares of PepsiCo stock opened at $142.26 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. PepsiCo, Inc. has a 12 month low of $123.47 and a 12 month high of $171.48. The business has a fifty day simple moving average of $133.53 and a 200 day simple moving average of $145.70. The stock has a market cap of $193.86 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 4.28 and a beta of 0.31.

PepsiCo (NASDAQ:PEP) last released 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. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. The business had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $24.95 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. Research analysts predict that PepsiCo, Inc. will post 8.42 EPS for the current year.

Wall Street Analyst Weigh In

PEP has been the topic of several recent research reports. Deutsche Bank reiterated a “hold” rating and issued a $132.00 price target on shares of PepsiCo in a report on Friday, October 9th. BNP Paribas Exane dropped their price objective on PepsiCo from $161.00 to $157.00 and set an “outperform” rating for the company in a report on Friday, October 9th. Jefferies Financial Group restated a “hold” rating on shares of PepsiCo in a research report on Thursday, October 8th. TD Cowen reduced 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. Finally, Weiss Ratings cut shares of PepsiCo from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, September 24th. 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 issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $143.28.

Insider Activity

In related news, Director Robert Pohlad purchased 184,646 shares of the stock in a transaction dated Wednesday, October 14th. The stock was bought at an average cost of $128.28 per share, with a total value of $23,686,388.88. Following the purchase, the director directly owned 433,009 shares in the company, valued at $55,546,394.52. The trade was a 74.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ramon Laguarta sold 30,000 shares of the company’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 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. This trade represents a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by insiders.

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.