PepsiCo, Inc. $PEP Stock: Keybank National Association OH Raises Holdings

Keybank National Association OH grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,124,734 shares of the company’s stock after purchasing an additional 99,195 shares during the quarter. Keybank National Association OH’s holdings in PepsiCo were worth $142,526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Narwhal Capital Management increased 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 period. Csenge Advisory Group lifted its position in PepsiCo by 2.2% in the 3rd quarter. Csenge Advisory Group now owns 25,259 shares of the company’s stock valued at $3,201,000 after purchasing an additional 546 shares during the last quarter. D.B. Root & Company LLC boosted its stake in PepsiCo by 6.0% during the 3rd quarter. D.B. Root & Company LLC now owns 4,732 shares of the company’s stock valued at $600,000 after purchasing an additional 266 shares during the period. New York Life Investment Management LLC boosted its stake 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 period. Finally, Gen Wealth Partners Inc boosted its stake in PepsiCo by 2.6% during the 3rd quarter. Gen Wealth Partners Inc now owns 3,294 shares of the company’s stock valued at $417,000 after purchasing an additional 82 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on PEP. Piper Sandler dropped their price target on shares of PepsiCo from $176.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Evercore cut their price target on PepsiCo from $150.00 to $135.00 in a report on Wednesday, September 30th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $138.00 to $137.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. Morgan Stanley set a $145.00 price objective on PepsiCo in a report on Friday, October 9th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of PepsiCo in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $143.28.

Insiders Place Their Bets

In other PepsiCo news, Director Robert C. Pohlad purchased 184,646 shares of the 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 completion of the acquisition, the director 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ramon Laguarta sold 30,000 shares of PepsiCo stock in a transaction dated 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 transaction, the chief executive officer directly 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. Company insiders own 0.12% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $143.61 on Wednesday. PepsiCo, Inc. has a 1 year low of $123.47 and a 1 year high of $171.48. The firm has a market cap of $195.70 billion, a P/E ratio of 18.04, a PEG ratio of 4.22 and a beta of 0.31. The stock has a fifty day moving average price of $133.41 and a two-hundred day moving average price of $145.72. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.76 and a current ratio of 0.94.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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 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 previous year, the business earned $2.29 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.42 EPS for the current fiscal year.

Key PepsiCo News

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

PepsiCo 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.