PepsiCo, Inc. $PEP Stock Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.2% during the third quarter, HoldingsChannel reports. The firm owned 118,546 shares of the company’s stock after selling 10,555 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in PepsiCo were worth $15,022,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Keybank National Association OH increased its position in PepsiCo by 9.7% during the third quarter. Keybank National Association OH now owns 1,124,734 shares of the company’s stock valued at $142,526,000 after acquiring an additional 99,195 shares during the last quarter. Narwhal Capital Management lifted its holdings in shares of PepsiCo by 2.4% in the 3rd quarter. Narwhal Capital Management now owns 44,950 shares of the company’s stock worth $5,696,000 after acquiring an additional 1,063 shares during the last quarter. Csenge Advisory Group lifted its holdings in shares of PepsiCo by 2.2% in the 3rd quarter. Csenge Advisory Group now owns 25,259 shares of the company’s stock worth $3,201,000 after acquiring an additional 546 shares during the last quarter. D.B. Root & Company LLC boosted its stake in shares of PepsiCo by 6.0% during the 3rd quarter. D.B. Root & Company LLC now owns 4,732 shares of the company’s stock worth $600,000 after purchasing an additional 266 shares during the period. Finally, New York Life Investment Management LLC grew its holdings in PepsiCo by 1.3% during the 3rd quarter. New York Life Investment Management LLC now owns 235,957 shares of the company’s stock valued at $29,900,000 after purchasing an additional 2,941 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Key Stories Impacting PepsiCo

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

Analyst Ratings Changes

PEP has been the subject of a number of recent analyst reports. Sanford C. Bernstein reissued a “market perform” rating on shares of PepsiCo in a research note on Friday, October 9th. TD Cowen decreased their price objective on shares of PepsiCo from $145.00 to $133.00 and set a “hold” rating for the company in a report on Monday, September 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $132.00 price objective on shares of PepsiCo in a report on Friday, October 9th. Jefferies Financial Group reissued a “hold” rating on shares of PepsiCo in a research report on Thursday, October 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of PepsiCo in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $143.28.

PepsiCo Trading Up 1.2%

NASDAQ:PEP opened at $143.61 on Wednesday. The company has a market capitalization of $195.70 billion, a P/E ratio of 18.04, a PEG ratio of 4.22 and a beta of 0.31. The company has a current ratio of 0.94, a quick ratio of 0.76 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 firm has a fifty day simple moving average of $133.41 and a 200-day simple moving average of $145.72.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 7th. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.05. The firm 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%. PepsiCo’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.42 earnings per share for the current year.

Insider Activity at PepsiCo

In other news, CEO Ramon Laguarta sold 30,000 shares of the stock in a transaction 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 sale, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Pohlad bought 184,646 shares of PepsiCo stock in a transaction that occurred on Wednesday, October 14th. The shares were acquired at an average cost of $128.28 per share, with a total value of $23,686,388.88. Following the acquisition, 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. The disclosure for this purchase is available in the SEC filing. Insiders own 0.12% of the company’s stock.

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.