Rakuten Investment Management Inc. lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 10.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 363,598 shares of the company’s stock after purchasing an additional 34,092 shares during the period. Rakuten Investment Management Inc.’s holdings in PepsiCo were worth $46,791,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Core Capital Management & Research inc. purchased a new position in shares of PepsiCo in the 2nd quarter worth about $932,000. State Street Corp grew its position in PepsiCo by 1.7% during the second 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 during the period. First Nebraska Trust Co purchased a new stake in PepsiCo during the first quarter worth about $10,782,000. The Manufacturers Life Insurance Company increased its holdings in PepsiCo by 19.0% during the second 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 raised its position 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 acquiring an additional 323,278 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
More PepsiCo News
Here are the key news stories impacting PepsiCo this week:
- Positive Sentiment: PepsiCo renewed and expanded its long-term beverage partnership with Taco Bell, retaining exclusive beverage rights and broadening distribution of products including Mountain Dew Baja Blast. Plans for new functional and energy drinks could create additional opportunities across the partnership. What Is PepsiCo (PEP) Gaining From Its Expanded Beverage Partnership?
- Positive Sentiment: PepsiCo ranked 10th on a hedge-fund-based list of undervalued dividend-growth stocks, with 68 tracked funds holding bullish positions. This supports the view that some investors see value and income potential, though it is not a near-term business catalyst. PepsiCo Remains a Popular Choice for Dividend Investors
- Neutral Sentiment: Coverage of PepsiCo’s functional-food strategy signals a focus on growth beyond traditional snacks and beverages, but the article information provided does not specify initiatives or expected financial impact. Inside PepsiCo’s functional food strategy
- Neutral Sentiment: Costco has brought back a rare PepsiCo seasonal soda that fans reportedly stockpile. The return may support interest in the product, but the article details provided do not indicate a material sales impact. Costco just brought back the rare PepsiCo seasonal soda fans stockpile for emergencies
- Negative Sentiment: A comparison article focuses on Coca-Cola’s stock having outpaced PepsiCo, highlighting relative performance weakness that could weigh on investor sentiment toward PEP. How Did Coca-Cola Stock Leave PepsiCo Behind?
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Freedom Broker upgraded shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of PepsiCo in a report on Friday, October 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $165.00 price target on shares of PepsiCo in a report on Thursday, October 8th. Piper Sandler reduced their price objective on PepsiCo from $176.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Finally, Weiss Ratings downgraded PepsiCo from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target of $143.28.
Insiders Place Their Bets
In related news, CEO Ramon Laguarta sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $135.13, for a total value of $4,053,900.00. Following the completion of the sale, the chief executive officer owned 491,645 shares of the company’s stock, valued at $66,435,988.85. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Pohlad bought 184,646 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were bought at an average cost of $128.28 per share, for a total transaction of $23,686,388.88. Following the purchase, the director directly owned 433,009 shares in the company, valued at approximately $55,546,394.52. This represents a 74.35% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.12% of the company’s stock.
PepsiCo Trading Down 2.2%
Shares of PEP stock opened at $137.27 on Wednesday. The company has a market capitalization of $187.06 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 4.19 and a beta of 0.31. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.76 and a current ratio of 0.94. The business’s fifty day moving average is $133.28 and its 200 day moving average is $145.82. PepsiCo, Inc. has a 52-week low of $123.47 and a 52-week high of $171.48.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $24.95 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. PepsiCo’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.39 EPS for the current fiscal year.
About PepsiCo
PepsiCo, Inc (NASDAQ:PEP) is a global food and beverage company whose portfolio includes Pepsi-Cola, Mountain Dew, Gatorade, Lay’s, Doritos, Cheetos, Quaker, Tostitos, Fritos, and SodaStream. Its products span carbonated soft drinks, sports and energy beverages, bottled water, juices, convenient foods, snacks, and other packaged food offerings.
The company sells products through retail stores, restaurants, food-service providers, e-commerce platforms, and other distribution channels. PepsiCo serves consumers in North America and international markets across Latin America, Europe, Africa, the Middle East, and Asia-Pacific.
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