PepsiCo, Inc. $PEP Shares Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 68.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 49,880 shares of the company’s stock after selling 107,000 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in PepsiCo were worth $6,321,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Evergreen Advisors LLC bought a new position in shares of PepsiCo during the first quarter valued at approximately $25,000. Montgomery Financial Services LLC purchased a new stake in PepsiCo in the second quarter worth $25,000. Next Level Wealth Planning LLC purchased a new stake in PepsiCo in the third quarter worth $26,000. Atlatl Advisers LLC bought a new stake in PepsiCo in the second quarter valued at $31,000. Finally, Osterweis Capital Management Inc. bought a new stake in PepsiCo in the second quarter valued at $31,000. 73.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PepsiCo

In other news, CEO Ramon Laguarta sold 30,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $66,435,988.85. The trade was a 5.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Pohlad bought 184,646 shares of the company’s stock in a transaction dated Wednesday, October 14th. The shares were acquired at an average price of $128.28 per share, for a total transaction of $23,686,388.88. Following the acquisition, the director owned 433,009 shares in the company, valued at approximately $55,546,394.52. This represents a 74.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.12% of the company’s stock.

Key PepsiCo News

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.

Analysts Set New Price Targets

PEP has been the topic of a number of research analyst reports. Freedom Broker raised shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Royal Bank Of Canada dropped their target price on shares of PepsiCo from $161.00 to $150.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 6th. Evercore dropped their target price on shares of PepsiCo from $150.00 to $135.00 in a research report on Wednesday, September 30th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $138.00 to $137.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Finally, TD Cowen reduced their price target on shares of PepsiCo from $145.00 to $133.00 and set a “hold” rating on the stock in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $143.28.

PepsiCo Trading Up 0.4%

PEP opened at $141.88 on Tuesday. The stock has a market cap of $193.35 billion, a PE ratio of 17.82, a PEG ratio of 4.24 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. The business has a 50 day moving average of $133.35 and a 200-day moving average of $145.72. PepsiCo, Inc. has a 52 week low of $123.47 and a 52 week high of $171.48.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, October 7th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.05. The company had revenue of $25.27 billion for the quarter, compared to analyst estimates of $24.95 billion. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 earnings per share. Equities research analysts predict 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.