PepsiCo, Inc. $PEP Stake Trimmed by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.7% during the third quarter, Holdings Channel.com reports. 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’s holdings in PepsiCo were worth $90,737,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Evergreen Advisors LLC bought a new position in shares of PepsiCo during the first quarter valued at approximately $25,000. Montgomery Financial Services LLC bought a new stake in PepsiCo in the second quarter valued at $25,000. Next Level Wealth Planning LLC purchased a new position in PepsiCo during the 3rd quarter valued at $26,000. Atlatl Advisers LLC purchased a new position in PepsiCo during the 2nd quarter valued at $31,000. Finally, Osterweis Capital Management Inc. bought a new position in PepsiCo in the 2nd quarter worth $31,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP opened at $143.94 on Thursday. The stock has a fifty day simple moving average of $133.49 and a two-hundred day simple 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. The company has a market cap of $196.15 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 4.27 and a beta of 0.31. PepsiCo, Inc. has a 12-month low of $123.47 and a 12-month high of $171.48.

PepsiCo (NASDAQ:PEP) last announced 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. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The firm had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $24.95 billion. During the same quarter in the previous year, the business posted $2.29 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Research analysts predict that PepsiCo, Inc. will post 8.42 earnings per share for the current fiscal year.

Top PepsiCo Stories

These are some of the PEP stories 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

Insider Activity

In other PepsiCo news, Director Robert C. Pohlad acquired 184,646 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The shares were acquired at an average price of $128.28 per share, with a total value of $23,686,388.88. Following the completion of the purchase, the director directly owned 433,009 shares of the company’s stock, valued at approximately $55,546,394.52. The trade was a 74.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ramon Laguarta sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 491,645 shares in the company, valued at approximately $66,435,988.85. This trade represents a 5.75% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of PepsiCo in a research report on Thursday, October 8th. Evercore reduced their price target on shares of PepsiCo from $150.00 to $135.00 in a research report on Wednesday, September 30th. TD Cowen decreased their price target on shares of PepsiCo from $145.00 to $133.00 and set a “hold” rating for the company in a research note on Monday, September 28th. BNP Paribas Exane lowered their price objective 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, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of PepsiCo in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company 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.