PepsiCo, Inc. $PEP Stock Position Cut by Machina Capital S.A.S.

Machina Capital S.A.S. reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 82.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,579 shares of the company’s stock after selling 35,638 shares during the quarter. Machina Capital S.A.S.’s holdings in PepsiCo were worth $960,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in PepsiCo by 2.1% during the 2nd 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 period. State Street Corp grew its position 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 valued at $8,179,099,000 after buying an additional 987,582 shares during the last quarter. Bank of America Corp DE increased its stake 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 valued at $3,305,146,000 after buying an additional 133,325 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of PepsiCo by 4.9% in 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 buying an additional 549,336 shares during the period. Finally, Amundi raised its position in shares of PepsiCo by 16.8% during 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 last quarter. Institutional investors own 73.07% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ramon Laguarta sold 30,000 shares of PepsiCo stock in a transaction on 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 sale, the chief executive officer owned 491,645 shares in the company, valued at $66,435,988.85. The trade was a 5.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert C. Pohlad bought 184,646 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The shares were bought at an average price of $128.28 per share, for a total transaction of $23,686,388.88. Following the transaction, the director directly owned 433,009 shares in the company, valued at $55,546,394.52. This trade represents a 74.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.12% of the stock is currently owned by corporate insiders.

PepsiCo Stock Down 1.2%

Shares of NASDAQ:PEP opened at $142.26 on Friday. The company has a market capitalization of $193.86 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 4.28 and a beta of 0.31. 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 business’s 50-day moving average is $133.53 and its 200-day moving average is $145.70. PepsiCo, Inc. has a 1 year low of $123.47 and a 1 year high of $171.48.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on PEP shares. Deutsche Bank reaffirmed a “hold” rating and issued a $132.00 price objective on shares of PepsiCo in a research note on Friday, October 9th. Piper Sandler lowered their price target on shares of PepsiCo from $176.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, October 9th. UBS Group dropped their price target on shares of PepsiCo from $159.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. Citigroup reaffirmed a “buy” rating on shares of PepsiCo in a research note on Friday, October 9th. Finally, Wells Fargo & Company decreased their price objective on shares of PepsiCo from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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

PepsiCo Company 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.