10,271 PepsiCo, Inc. $PEP Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,013 shares of the company’s stock after purchasing an additional 10,271 shares during the quarter. Maryland State Retirement & Pension System’s holdings in PepsiCo were worth $10,646,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PEP. Evergreen Advisors LLC purchased a new stake in shares of PepsiCo during the first quarter valued at approximately $25,000. Montgomery Financial Services LLC bought a new stake in shares of PepsiCo during the second quarter valued at approximately $25,000. Next Level Wealth Planning LLC bought a new stake in shares of PepsiCo during the third quarter valued at approximately $26,000. Atlatl Advisers LLC purchased a new position in PepsiCo in the 2nd quarter worth approximately $31,000. Finally, Osterweis Capital Management Inc. purchased a new position in PepsiCo in the 2nd quarter worth approximately $31,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Ramon Laguarta sold 30,000 shares of the stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $135.13, for a total transaction of $4,053,900.00. Following the transaction, the chief executive officer directly owned 491,645 shares of the company’s stock, valued at $66,435,988.85. This represents a 5.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert C. Pohlad purchased 184,646 shares of the company’s stock in a transaction dated Wednesday, October 14th. The stock was purchased at an average price of $128.28 per share, for a total transaction of $23,686,388.88. Following the completion of the purchase, the director owned 433,009 shares in the company, valued at approximately $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.

Recent PepsiCo Headlines

Here are a few of the latest headlines about PEP:

• 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 Stock Performance

Shares of PEP stock opened at $143.94 on Thursday. 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 company has a 50 day moving average price of $133.49 and a 200-day moving average price of $145.71. PepsiCo, Inc. has a 52 week low of $123.47 and a 52 week high of $171.48. The firm has a market capitalization of $196.15 billion, a PE ratio of 18.08, a P/E/G ratio of 4.27 and a beta of 0.31.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.05. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The company had revenue of $25.27 billion for the quarter, compared to the consensus estimate of $24.95 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore lowered their price objective on PepsiCo from $150.00 to $135.00 in a research report on Wednesday, September 30th. Citigroup reissued a “buy” rating on shares of PepsiCo in a report on Friday, October 9th. Piper Sandler decreased their price target on PepsiCo from $176.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. BNP Paribas Exane lowered their price target on PepsiCo from $161.00 to $157.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Finally, TD Cowen dropped their price objective on PepsiCo from $145.00 to $133.00 and set a “hold” rating on the stock in a research report on Monday, September 28th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $143.28.

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.