PepsiCo, Inc. $PEP Stock Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,162 shares of the company’s stock after selling 5,108 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in PepsiCo were worth $9,651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in PepsiCo by 2.1% during the 2nd quarter. BlackRock Inc. now owns 118,281,854 shares of the company’s stock valued at $16,015,363,000 after buying an additional 2,440,377 shares during the last quarter. State Street Corp boosted its stake in shares of PepsiCo by 1.7% in the 2nd quarter. State Street Corp now owns 60,406,932 shares of the company’s stock worth $8,179,099,000 after buying an additional 987,582 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of PepsiCo by 0.6% in the first quarter. Bank of America Corp DE now owns 21,283,701 shares of the company’s stock worth $3,305,146,000 after acquiring an additional 133,325 shares during the period. Amundi grew its holdings in shares of PepsiCo by 16.8% in the first quarter. Amundi now owns 11,444,671 shares of the company’s stock worth $1,777,243,000 after acquiring an additional 1,647,506 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in PepsiCo by 4.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,817,684 shares of the company’s stock valued at $1,600,114,000 after acquiring an additional 549,336 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.2%

NASDAQ:PEP opened at $142.26 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.94 and a quick ratio of 0.76. The firm has a market capitalization of $193.86 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 4.28 and a beta of 0.31. PepsiCo, Inc. has a one year low of $123.47 and a one year high of $171.48. The business has a fifty day moving average price of $133.53 and a 200-day moving average price of $145.70.

PepsiCo (NASDAQ:PEP) last announced its 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. The company had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $24.95 billion. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. PepsiCo’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. Sell-side analysts forecast that PepsiCo, Inc. will post 8.42 EPS for the current year.

Insider Transactions at PepsiCo

In other news, CEO Ramon Laguarta sold 30,000 shares of PepsiCo 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 transaction, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert C. Pohlad acquired 184,646 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The shares were bought 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 owned 433,009 shares in the company, valued at $55,546,394.52. This trade represents a 74.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

PEP has been the topic of a number of recent research reports. Freedom Broker raised PepsiCo from a “hold” rating to a “strong-buy” rating in a report on Saturday, October 10th. Evercore cut their price target on PepsiCo from $150.00 to $135.00 in a research note on Wednesday, September 30th. TD Cowen reduced their price target on shares of PepsiCo from $145.00 to $133.00 and set a “hold” rating for the company in a research report on Monday, September 28th. Sanford C. Bernstein reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, October 9th. Finally, Barclays dropped their price objective on shares of PepsiCo from $133.00 to $126.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $143.28.

Recent PepsiCo Headlines

Here are a few of the latest headlines about PEP:

• Positive Sentiment: New seasonal flavors for Lay’s, Doritos, Cheetos and Pepsi could help refresh the product lineup and attract holiday shoppers, though the article provides no sales outlook. PepsiCo launches new holiday flavors
• Neutral Sentiment: PepsiCo plans to eliminate about 1,000 North American jobs as part of a turnaround effort backed by activist investor Elliott. The cuts aim to simplify operations and improve productivity, but the financial benefit is not yet specified. PepsiCo plans 1,000 North America job cuts
• Negative Sentiment: The workforce reduction comes amid sluggish North American sales and declining beverage volumes, with consumers shifting away from sugary sodas. That suggests the company’s challenges are not limited to costs and may require a turnaround in demand. PepsiCo to cut about 1,000 North American jobs

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.