PepsiCo, Inc. $PEP Stock: Beutel Goodman & Co Ltd. Raises Stake

Beutel Goodman & Co Ltd. increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9,926.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,279,847 shares of the company’s stock after purchasing an additional 2,257,108 shares during the quarter. PepsiCo accounts for 2.3% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 13th largest position. Beutel Goodman & Co Ltd. owned about 0.17% of PepsiCo worth $288,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Bank of America Corp DE bought a new position in shares of PepsiCo during the 2nd quarter valued at $2,755,509,000. Legal & General Group Plc purchased a new position in shares of PepsiCo in the 2nd quarter worth $1,200,274,000. Corient Private Wealth LP bought a new stake in shares of PepsiCo in the second quarter worth $297,116,000. Canada Pension Plan Investment Board bought a new stake in shares of PepsiCo in the second quarter worth $487,558,000. Finally, Assenagon Asset Management S.A. increased its position in PepsiCo by 952.6% during the second quarter. Assenagon Asset Management S.A. now owns 3,715,812 shares of the company’s stock valued at $503,121,000 after acquiring an additional 3,362,794 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEP. Morgan Stanley set a $145.00 target price on PepsiCo in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $132.00 target price on shares of PepsiCo in a research report on Friday, October 9th. Weiss Ratings downgraded PepsiCo from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. Jefferies Financial Group reaffirmed a “hold” rating on shares of PepsiCo in a research report on Thursday, October 8th. Finally, Citigroup reiterated a “buy” rating on shares of PepsiCo in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $143.28.

Trending Headlines about PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Consumer stocks, including the consumer-staples sector, were higher late Monday, providing a supportive backdrop for PEP. Read More.
• Positive Sentiment: PepsiCo is emphasizing zero-sugar drinks, flavored sodas and functional hydration to respond to changing preferences and pursue beverage growth. The strategy is supported by reported traction in zero-sugar offerings, though broader demand remains a question. Read More.
• Positive Sentiment: PepsiCo renewed beverage-supply agreements with KFC in eight international markets, retaining an important customer channel outside the U.S. Read More.
• Neutral Sentiment: The company is expanding holiday retail and marketing efforts, including campaigns tied to football. This could support brand visibility, but the article gives no sales impact. Read More.
• Negative Sentiment: PepsiCo plans to cut about 1,000 North American jobs as part of a turnaround and effort to streamline operations. Potential cost savings may help, but the cuts also underscore struggles in a key business region. Read More.
• Negative Sentiment: Poppi’s founders launched Jetty, a hydration brand entering a category that includes PepsiCo’s Gatorade. The new competitor may add pressure in functional beverages, although its near-term effect on PepsiCo is uncertain. Read More.

PepsiCo Trading Up 0.4%

Shares of PEP stock opened at $141.88 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.94 and a quick ratio of 0.76. The company has a market cap of $193.35 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 4.24 and a beta of 0.31. PepsiCo, Inc. has a 1 year low of $123.47 and a 1 year high of $171.48. The firm has a fifty day moving average price of $133.35 and a 200-day moving average price of $145.72.

PepsiCo (NASDAQ:PEP) last announced 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. The company had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $24.95 billion. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. PepsiCo’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. As a group, equities analysts predict that PepsiCo, Inc. will post 8.42 earnings per share for the current year.

Insider Transactions at PepsiCo

In other PepsiCo news, CEO Ramon Laguarta sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 491,645 shares in the company, valued at $66,435,988.85. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert C. Pohlad bought 184,646 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The shares were acquired at an average price 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 represents a 74.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.12% of the company’s stock.

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.