PepsiCo, Inc. $PEP Position Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 716,040 shares of the company’s stock after selling 51,038 shares during the quarter. King Luther Capital Management Corp owned about 0.05% of PepsiCo worth $90,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Core Capital Management & Research inc. bought a new position in shares of PepsiCo during the 2nd quarter valued at about $932,000. State Street Corp raised 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 buying an additional 987,582 shares in the last quarter. First Nebraska Trust Co bought a new stake in PepsiCo in the 1st quarter worth approximately $10,782,000. The Manufacturers Life Insurance Company lifted its position in PepsiCo by 19.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,110,852 shares of the company’s stock worth $150,409,000 after buying an additional 177,468 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in PepsiCo by 157.0% in the first quarter. Jennison Associates LLC now owns 529,129 shares of the company’s stock worth $82,168,000 after buying an additional 323,278 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent research reports. BNP Paribas Exane reduced their price target on shares of PepsiCo from $161.00 to $157.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. The Goldman Sachs Group reissued a “buy” rating and set a $165.00 price target on shares of PepsiCo in a research note on Thursday, October 8th. Piper Sandler lowered their price objective on shares of PepsiCo from $176.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Deutsche Bank reaffirmed a “hold” rating and issued a $132.00 price objective on shares of PepsiCo in a research note on Friday, October 9th. Finally, Evercore reduced their target price on shares of PepsiCo from $150.00 to $135.00 in a report on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given 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, the company has a consensus rating of “Hold” and a consensus target price of $143.28.

Key PepsiCo News

These are some of the PEP news items that stood out recently:

• Positive Sentiment: PepsiCo has increased its dividend annually for decades, a feature that may appeal to income-focused investors. Article: 1 Overlooked Dividend Stock With a 54-Year Winning Streak Worth Buying Now
• Neutral Sentiment: Analysts remain moderately optimistic despite PEP’s underperformance versus the broader market over the past year, suggesting some confidence in its prospects but not a strong near-term catalyst. Article: PepsiCo Stock Outlook: Is Wall Street Bullish or Bearish?
• Negative Sentiment: PepsiCo plans to eliminate about 1,000 North American jobs as it streamlines operations amid sluggish sales, declining beverage volumes, and margin pressure. The cuts could reduce costs, but the demand weakness prompting them is a concern for investors, particularly as consumers shift toward healthier options. Article: PepsiCo Cuts 1,000 Jobs as North American Sales Struggle

PepsiCo Trading Up 0.2%

NASDAQ PEP opened at $143.94 on Thursday. The firm has a market cap of $196.15 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 4.27 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 stock has a 50-day moving average of $133.49 and a 200-day moving average of $145.71. 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 (NASDAQ:PEP) last announced its quarterly 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. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. The business had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $24.95 billion. During the same period in the previous year, the firm earned $2.29 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.42 EPS for the current year.

Insider Activity at PepsiCo

In other news, Director Robert C. Pohlad purchased 184,646 shares of the stock in a transaction that occurred on 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 acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $4,053,900.00. Following the sale, the chief executive officer directly owned 491,645 shares of the company’s stock, valued at $66,435,988.85. The trade was a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by company insiders.

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.