PepsiCo, Inc. $PEP Stock Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 83.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,149 shares of the company’s stock after selling 31,808 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in PepsiCo were worth $779,000 as of its most recent filing with the SEC.

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

Trending Headlines about PepsiCo

Investors following PEP have been watching these headlines:

• Positive Sentiment: Wall Street analysts remain moderately optimistic about PepsiCo’s prospects despite its underperformance over the past year, offering some support for the longer-term outlook. PepsiCo Stock Outlook: Is Wall Street Bullish or Bearish?
• 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

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $142.26 on Friday. 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 stock has a 50 day moving average price of $133.53 and a 200 day moving average price of $145.70. The stock has a market capitalization of $193.86 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 4.28 and a beta of 0.31. PepsiCo, Inc. has a 52 week low of $123.47 and a 52 week high of $171.48.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 7th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.05. The business had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $24.95 billion. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $2.29 earnings per share. Analysts predict that PepsiCo, Inc. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research reports. Jefferies Financial Group restated a “hold” rating on shares of PepsiCo in a report on Thursday, October 8th. UBS Group dropped their target price on PepsiCo from $159.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. Wells Fargo & Company cut their target price on PepsiCo from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, October 5th. Barclays reduced their price target on PepsiCo from $133.00 to $126.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. Finally, BNP Paribas Exane decreased their price target on shares of PepsiCo from $161.00 to $157.00 and set an “outperform” rating for the company in a research note on Friday, October 9th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $143.28.

Insider Activity at PepsiCo

In other PepsiCo news, Director Robert Pohlad acquired 184,646 shares of the business’s stock in a transaction dated Wednesday, October 14th. The stock was bought at an average cost of $128.28 per share, with a total value of $23,686,388.88. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ramon Laguarta sold 30,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 491,645 shares in the company, valued at $66,435,988.85. The trade was a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by corporate insiders.

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.