PepsiCo, Inc. $PEP Stock Bought by Phoenix Financial Ltd.

Phoenix Financial Ltd. increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 48.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,525 shares of the company’s stock after buying an additional 27,121 shares during the quarter. Phoenix Financial Ltd.’s holdings in PepsiCo were worth $10,596,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEP. BlackRock Inc. boosted its stake in shares of PepsiCo by 2.1% in the 2nd quarter. BlackRock Inc. now owns 118,281,854 shares of the company’s stock valued at $16,015,363,000 after purchasing an additional 2,440,377 shares in the last quarter. State Street Corp grew its holdings in shares of PepsiCo by 1.7% during the 2nd quarter. State Street Corp now owns 60,406,932 shares of the company’s stock valued at $8,179,099,000 after purchasing an additional 987,582 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of PepsiCo by 0.6% during the 1st quarter. Bank of America Corp DE now owns 21,283,701 shares of the company’s stock valued at $3,305,146,000 after purchasing an additional 133,325 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in PepsiCo by 4.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,817,684 shares of the company’s stock worth $1,600,114,000 after purchasing an additional 549,336 shares in the last quarter. Finally, Amundi increased its position in PepsiCo by 16.8% during the 1st quarter. Amundi now owns 11,444,671 shares of the company’s stock worth $1,777,243,000 after purchasing an additional 1,647,506 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 approximately $66,435,988.85. This represents a 5.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Pohlad acquired 184,646 shares of PepsiCo stock in a transaction that occurred on Wednesday, October 14th. The stock was acquired at an average cost of $128.28 per share, for a total transaction of $23,686,388.88. Following the purchase, the director owned 433,009 shares of the company’s stock, valued at $55,546,394.52. The trade was a 74.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup reissued a “buy” rating on shares of PepsiCo in a research note on Friday, October 9th. Evercore decreased their target price on shares of PepsiCo from $150.00 to $135.00 in a research note on Wednesday, September 30th. Sanford C. Bernstein reiterated a “market perform” rating on shares of PepsiCo in a report on Friday. BNP Paribas Exane lowered their price target 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, Weiss Ratings cut PepsiCo from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.28.

PepsiCo Trading Up 2.2%

Shares of NASDAQ:PEP traded up $3.18 during midday trading on Friday, hitting $145.44. 7,910,876 shares of the stock were exchanged, compared to its average volume of 9,600,079. The stock has a market capitalization of $198.20 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 4.23 and a beta of 0.31. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.76 and a current ratio of 0.94. The business’s 50-day moving average price is $133.64 and its 200 day moving average price is $145.68. PepsiCo, Inc. has a 12 month low of $123.47 and a 12 month high of $171.48.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.05. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. The company 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 firm posted $2.29 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.42 earnings per share for the current year.

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.