PepsiCo, Inc. $PEP Stock: Phoenix Financial Ltd. Raises Holdings

Phoenix Financial Ltd. grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 48.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,525 shares of the company’s stock after purchasing an additional 27,121 shares during the quarter. Phoenix Financial Ltd.’s holdings in PepsiCo were worth $10,596,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in 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 buying an additional 2,440,377 shares during the last quarter. State Street Corp lifted its holdings in PepsiCo by 1.7% in 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. Bank of America Corp DE boosted its position in PepsiCo by 0.6% during the first quarter. Bank of America Corp DE now owns 21,283,701 shares of the company’s stock valued at $3,305,146,000 after acquiring an additional 133,325 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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. Finally, Amundi grew 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 acquiring an additional 1,647,506 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. BNP Paribas Exane lowered their price objective on PepsiCo from $161.00 to $157.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Freedom Broker upgraded PepsiCo from a “hold” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Piper Sandler decreased their target price on PepsiCo from $176.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Evercore lowered their target price on PepsiCo from $150.00 to $135.00 in a report on Wednesday, September 30th. Finally, Jefferies Financial Group restated a “hold” rating on shares of PepsiCo in a research note on Thursday, October 8th. One investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $143.28.

PepsiCo Stock Up 2.2%

Shares of PEP traded up $3.18 during trading hours on Friday, reaching $145.44. The stock had a trading volume of 7,910,876 shares, compared to its average volume of 9,600,079. PepsiCo, Inc. has a 12 month low of $123.47 and a 12 month high of $171.48. The firm has a 50-day simple moving average of $133.64 and a 200 day simple moving average of $145.68. 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 capitalization of $198.20 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 4.23 and a beta of 0.31.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 7th. The company reported $2.34 earnings per share (EPS) 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 the consensus estimate of $24.95 billion. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. PepsiCo’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 EPS. Equities research analysts predict that PepsiCo, Inc. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ramon Laguarta sold 30,000 shares of the business’s stock in a transaction dated Wednesday, October 21st. The shares were 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert C. Pohlad bought 184,646 shares of the stock in a transaction that occurred on Wednesday, October 14th. The stock was acquired at an average price of $128.28 per share, for a total transaction of $23,686,388.88. Following the acquisition, the director directly owned 433,009 shares in the company, valued at $55,546,394.52. The trade was a 74.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.12% of the stock is currently owned by company 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.