13,607 PepsiCo, Inc. $PEP Shares Acquired by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer increased its PepsiCo stake by 7.7% in the third quarter, purchasing 13,607 shares and bringing its holdings to 191,162 shares valued at approximately $24.24 million. Institutional investors collectively own 73.07% of PepsiCo.
• Analysts maintain a consensus “Hold” rating on PEP, with a consensus price target of $143.28 after several firms lowered their targets. PepsiCo recently exceeded quarterly expectations, reporting $2.34 in EPS and $25.27 billion in revenue, up 5.6% year over year.
• PepsiCo shares opened at $140.42, with a market capitalization of about $191.36 billion and a 52-week range of $123.47 to $171.48. CEO Ramon Laguarta sold 30,000 shares, while director Robert Pohlad purchased 184,646 shares.

Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,162 shares of the company's stock after purchasing an additional 13,607 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in PepsiCo were worth $24,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of America Corp DE acquired a new stake in PepsiCo during the second quarter worth about $2,755,509,000. Legal & General Group Plc acquired a new position in PepsiCo in the second quarter valued at approximately $1,200,274,000. Corient Private Wealth LP acquired a new position in PepsiCo in the second quarter valued at approximately $297,116,000. Canada Pension Plan Investment Board purchased a new stake in PepsiCo in the 2nd quarter worth approximately $487,558,000. Finally, Assenagon Asset Management S.A. boosted its position in PepsiCo by 952.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,715,812 shares of the company's stock worth $503,121,000 after purchasing an additional 3,362,794 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PEP shares. The Goldman Sachs Group reissued a "buy" rating and set a $165.00 price target on shares of PepsiCo in a report on Thursday, October 8th. Royal Bank Of Canada cut their price objective on shares of PepsiCo from $161.00 to $150.00 and set a "sector perform" rating for the company in a report on Tuesday, October 6th. UBS Group decreased their price objective on shares of PepsiCo from $159.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, October 2nd. Piper Sandler decreased their price objective on shares of PepsiCo from $176.00 to $140.00 and set an "overweight" rating for the company in a research report on Friday, October 9th. Finally, BNP Paribas Exane lowered their target price on shares of PepsiCo from $161.00 to $157.00 and set an "outperform" rating on the stock in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $143.28.

PepsiCo Stock Up 2.2%

NASDAQ PEP opened at $140.42 on Tuesday. The business's fifty day simple moving average is $133.43 and its 200-day simple moving average is $145.86. The company has a quick ratio of 0.76, a current ratio of 0.94 and a debt-to-equity ratio of 1.90. The firm has a market cap of $191.36 billion, a PE ratio of 15.77, a P/E/G ratio of 3.96 and a beta of 0.35. PepsiCo, Inc. has a 52 week low of $123.47 and a 52 week high of $171.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted 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 company had revenue of $25.27 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 EPS. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.39 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ramon Laguarta sold 30,000 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 491,645 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director Robert Pohlad acquired 184,646 shares of the company's stock in a transaction that occurred 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 acquisition, the director directly owned 433,009 shares of the company's stock, valued at approximately $55,546,394.52. This represents a 74.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.12% of the company's stock.

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.

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