16,994 PepsiCo, Inc. $PEP Shares Bought by Torray Investment Partners LLC

Key Points

• Torray Investment Partners increased its PepsiCo stake by 11.6%, buying 16,994 shares in the third quarter to hold 163,262 shares valued at about $20.7 million.
• PepsiCo beat quarterly earnings and revenue estimates, reporting EPS of $2.34 and revenue of $25.27 billion; revenue rose 5.6% year over year.
• Shares were reported down 2.2%, while analysts’ consensus rating was Hold with an average price target of $143.28.

Torray Investment Partners LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 163,262 shares of the company's stock after buying an additional 16,994 shares during the quarter. PepsiCo comprises 2.7% of Torray Investment Partners LLC's investment portfolio, making the stock its 16th largest holding. Torray Investment Partners LLC's holdings in PepsiCo were worth $20,689,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wilkerson Advisory Group LLC raised its stake in PepsiCo by 3.3% during the 1st quarter. Wilkerson Advisory Group LLC now owns 2,040 shares of the company's stock valued at $317,000 after purchasing an additional 66 shares during the last quarter. Pittenger & Anderson Inc. grew its position in PepsiCo by 0.3% in the 1st quarter. Pittenger & Anderson Inc. now owns 24,895 shares of the company's stock worth $3,866,000 after purchasing an additional 69 shares during the last quarter. Cohen Investment Advisors LLC increased its holdings in shares of PepsiCo by 1.9% during the 1st quarter. Cohen Investment Advisors LLC now owns 3,770 shares of the company's stock worth $585,000 after purchasing an additional 71 shares during the period. Bogart Wealth LLC increased its holdings in shares of PepsiCo by 2.1% during the 1st quarter. Bogart Wealth LLC now owns 3,526 shares of the company's stock worth $548,000 after purchasing an additional 72 shares during the period. Finally, Centerpoint Advisors LLC raised its position in shares of PepsiCo by 4.1% during the second quarter. Centerpoint Advisors LLC now owns 1,918 shares of the company's stock valued at $260,000 after buying an additional 75 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo News Summary

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo renewed and expanded its long-term beverage partnership with Taco Bell, retaining exclusive beverage rights and broadening distribution of products including Mountain Dew Baja Blast. Plans for new functional and energy drinks could create additional opportunities across the partnership. What Is PepsiCo (PEP) Gaining From Its Expanded Beverage Partnership?
• Positive Sentiment: PepsiCo ranked 10th on a hedge-fund-based list of undervalued dividend-growth stocks, with 68 tracked funds holding bullish positions. This supports the view that some investors see value and income potential, though it is not a near-term business catalyst. PepsiCo Remains a Popular Choice for Dividend Investors
• Neutral Sentiment: Coverage of PepsiCo’s functional-food strategy signals a focus on growth beyond traditional snacks and beverages, but the article information provided does not specify initiatives or expected financial impact. Inside PepsiCo’s functional food strategy
• Neutral Sentiment: Costco has brought back a rare PepsiCo seasonal soda that fans reportedly stockpile. The return may support interest in the product, but the article details provided do not indicate a material sales impact. Costco just brought back the rare PepsiCo seasonal soda fans stockpile for emergencies
• Negative Sentiment: A comparison article focuses on Coca-Cola’s stock having outpaced PepsiCo, highlighting relative performance weakness that could weigh on investor sentiment toward PEP. How Did Coca-Cola Stock Leave PepsiCo Behind?

PepsiCo Trading Down 2.2%

Shares of PepsiCo stock opened at $137.27 on Wednesday. PepsiCo, Inc. has a 52-week low of $123.47 and a 52-week high of $171.48. The firm has a market capitalization of $187.06 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 4.19 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 company's fifty day moving average price is $133.28 and its two-hundred day moving average price is $145.82.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.05. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The company had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $24.95 billion. During the same period last year, the firm earned $2.29 EPS. The firm's revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts expect that PepsiCo, Inc. will post 8.39 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup reiterated a "buy" rating on shares of PepsiCo in a research note on Friday, October 9th. Barclays lowered their price target on PepsiCo from $133.00 to $126.00 and set an "equal weight" rating on the stock in a research note on Monday, October 12th. JPMorgan Chase & Co. cut their price target on PepsiCo from $138.00 to $137.00 and set a "neutral" rating for the company in a report on Friday, October 9th. Jefferies Financial Group reaffirmed a "hold" rating on shares of PepsiCo in a report on Thursday, October 8th. Finally, Evercore reduced their price objective on PepsiCo from $150.00 to $135.00 in a research report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $143.28.

Insider Activity

In other PepsiCo news, CEO Ramon Laguarta sold 30,000 shares of PepsiCo stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $135.13, for a total transaction of $4,053,900.00. Following the sale, the chief executive officer directly owned 491,645 shares of the company's stock, valued at approximately $66,435,988.85. The trade was a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert C. Pohlad acquired 184,646 shares of the stock in a transaction dated Wednesday, October 14th. The stock was bought at an average price of $128.28 per share, for a total transaction of $23,686,388.88. Following the completion of the purchase, the director owned 433,009 shares in the company, valued at approximately $55,546,394.52. This trade represents a 74.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.12% of the company's stock.

About PepsiCo

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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