Retirement Systems of Alabama Sells 114,298 Shares of PepsiCo, Inc. $PEP

Retirement Systems of Alabama lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 28.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 286,229 shares of the company’s stock after selling 114,298 shares during the quarter. Retirement Systems of Alabama’s holdings in PepsiCo were worth $36,271,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Evergreen Advisors LLC purchased a new position in shares of PepsiCo during the 1st quarter worth $25,000. Montgomery Financial Services LLC acquired a new position in shares of PepsiCo during the 2nd quarter valued at about $25,000. Next Level Wealth Planning LLC acquired a new position in shares of PepsiCo during the 3rd quarter valued at about $26,000. Atlatl Advisers LLC purchased a new stake in shares of PepsiCo in the second quarter valued at about $31,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of PepsiCo in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $143.61 on Wednesday. The firm has a market cap of $195.70 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 4.22 and a beta of 0.31. 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 52 week low of $123.47 and a 52 week high of $171.48. The business’s fifty day simple moving average is $133.41 and its 200-day simple moving average is $145.72.

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, topping analysts’ consensus estimates of $2.29 by $0.05. The firm 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 company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $2.29 EPS. Equities analysts forecast that PepsiCo, Inc. will post 8.42 earnings per share for the current year.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo plans to eliminate about 1,000 North American roles as part of a broader effort to simplify operations and improve execution. If the restructuring reduces costs, it could support margins over time. PepsiCo to cut about 1,000 jobs as North American business struggles
• Positive Sentiment: PepsiCo is emphasizing zero-sugar drinks, flavored sodas and functional hydration to address changing preferences and strengthen beverage demand. Can PepsiCo’s Zero-Sugar Strategy Strengthen Beverage Demand?
• Neutral Sentiment: The company renewed overseas beverage-supply agreements with KFC in several markets, maintaining an established distribution relationship. PepsiCo renews overseas KFC contracts
• Negative Sentiment: The layoffs come amid sluggish North American sales, volume declines and margin pressure. That points to ongoing operating challenges and could temper optimism about the potential savings, particularly as the turnaround has yet to gain traction. PepsiCo to cut over 1,000 jobs amid sluggish sales in North American market

Insider Activity

In other PepsiCo news, CEO Ramon Laguarta sold 30,000 shares of PepsiCo 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 completion of the sale, the chief executive officer directly owned 491,645 shares in the company, valued at $66,435,988.85. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Pohlad purchased 184,646 shares of PepsiCo stock in a transaction dated Wednesday, October 14th. The stock was bought 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 in the company, valued at approximately $55,546,394.52. This trade represents a 74.35% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PEP shares. Citigroup restated a “buy” rating on shares of PepsiCo in a research report on Friday, October 9th. Royal Bank Of Canada decreased their target price on shares of PepsiCo from $161.00 to $150.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 6th. BNP Paribas Exane dropped their price target on shares of PepsiCo from $161.00 to $157.00 and set an “outperform” rating for the company in a research note on Friday, October 9th. Barclays cut their price target on shares of PepsiCo from $133.00 to $126.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 price target on shares of PepsiCo in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $143.28.

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.