Costello Asset Management INC Sells 5,631 Shares of PepsiCo, Inc. $PEP

Costello Asset Management INC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 32.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,510 shares of the company’s stock after selling 5,631 shares during the period. Costello Asset Management INC’s holdings in PepsiCo were worth $1,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Core Capital Management & Research inc. bought a new position in shares of PepsiCo during the 2nd quarter valued at approximately $932,000. State Street Corp raised its stake 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 purchasing an additional 987,582 shares in the last quarter. First Nebraska Trust Co bought a new position in PepsiCo during the first quarter valued at $10,782,000. The Manufacturers Life Insurance Company grew its position in PepsiCo by 19.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,110,852 shares of the company’s stock worth $150,409,000 after acquiring an additional 177,468 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in PepsiCo by 157.0% during the 1st quarter. Jennison Associates LLC now owns 529,129 shares of the company’s stock valued at $82,168,000 after buying an additional 323,278 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent analyst reports. Citigroup restated a “buy” rating on shares of PepsiCo in a report on Friday, October 9th. Evercore cut their price objective on shares of PepsiCo from $150.00 to $135.00 in a report on Wednesday, September 30th. Royal Bank Of Canada lowered their target price on PepsiCo from $161.00 to $150.00 and set a “sector perform” rating for the company in a report on Tuesday, October 6th. Morgan Stanley set a $145.00 price target on PepsiCo in a report on Friday, October 9th. Finally, Freedom Broker upgraded PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Saturday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $143.28.

Insiders Place Their Bets

In related news, Director Robert Pohlad purchased 184,646 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was acquired at an average price of $128.28 per share, with a total value of $23,686,388.88. Following the completion of the acquisition, the director 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 document filed with the SEC, which is accessible through this link. Also, CEO Ramon Laguarta sold 30,000 shares of the 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 completion of the transaction, the chief executive officer directly owned 491,645 shares in the company, valued at $66,435,988.85. This represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company’s stock.

Key Stories Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo’s snack pricing and affordability measures are reportedly helping drive volume gains and stronger consumer demand. That could support sales, although higher costs and margin pressure remain challenges. Can PepsiCo’s Snack Pricing Strategy Drive Volume Growth?
• Positive Sentiment: An expanded Taco Bell beverage partnership preserves PepsiCo’s exclusive supplier role and adds distribution opportunities for products including Mountain Dew Baja Blast, with plans for new functional and energy drinks. What Is PepsiCo Gaining From Its Expanded Beverage Partnership?
• Neutral Sentiment: Investor commentary highlights PepsiCo’s dividend record and appeal to income-focused investors. Another comparison notes improving organic sales growth, but says the earnings recovery remains sluggish; these are opinions rather than new company guidance. Clorox vs. PepsiCo: Which Dividend Stock Could Make You Richer Over the Next 10 Years?
• Negative Sentiment: India’s food regulator accused PepsiCo and Monster of marketing products with an “energy drink” label to mislead consumers. The allegations could create reputational or regulatory risk, though the reports do not detail any financial impact. India says PepsiCo, Monster marketed with ‘energy drink’ label to dupe consumers

PepsiCo Stock Up 3.8%

PepsiCo stock opened at $142.42 on Thursday. 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 stock has a market capitalization of $194.08 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 4.09 and a beta of 0.31. PepsiCo, Inc. has a 1-year low of $123.47 and a 1-year high of $171.48. The business has a fifty day moving average price of $133.29 and a 200-day moving average price of $145.80.

PepsiCo (NASDAQ:PEP) last announced its 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. 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 analyst estimates of $24.95 billion. During the same period in the prior year, the company posted $2.29 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.42 EPS for the current fiscal year.

PepsiCo Company Profile

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.