71,701 Shares of PepsiCo, Inc. $PEP Purchased by First Nebraska Trust Co

Key Points

• First Nebraska Trust Co. initiated a PepsiCo position, buying 71,701 shares worth about $9.1 million in the third quarter; PEP represents 0.7% of the fund’s holdings.
• Analysts’ consensus rating is Hold, with an average price target of $143.28. Several firms recently lowered their targets, including RBC to $150 and Barclays to $126.
• PepsiCo beat quarterly estimates, reporting EPS of $2.34 and revenue of $25.27 billion, up 5.6% year over year. Director Robert Pohlad also bought shares, while CEO Ramon Laguarta sold 30,000.

First Nebraska Trust Co bought a new position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 71,701 shares of the company's stock, valued at approximately $9,086,000. PepsiCo makes up 0.7% of First Nebraska Trust Co's holdings, making the stock its 29th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Torray Investment Partners LLC raised its position in shares of PepsiCo by 11.6% during the 3rd quarter. Torray Investment Partners LLC now owns 163,262 shares of the company's stock valued at $20,689,000 after buying an additional 16,994 shares in the last quarter. Legacy Wealth Management LLC MS purchased a new position in PepsiCo in the third quarter worth about $275,000. Eads & Heald Wealth Management grew its position in PepsiCo by 2.1% in the third quarter. Eads & Heald Wealth Management now owns 14,451 shares of the company's stock worth $1,831,000 after acquiring an additional 295 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its stake in PepsiCo by 30.5% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,754 shares of the company's stock worth $349,000 after acquiring an additional 644 shares during the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC increased its stake in PepsiCo by 11.8% during the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 83,533 shares of the company's stock worth $10,585,000 after acquiring an additional 8,799 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PEP shares. Jefferies Financial Group restated a "hold" rating on shares of PepsiCo in a research report on Thursday, October 8th. Royal Bank Of Canada dropped 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. Piper Sandler cut their target price on PepsiCo from $176.00 to $140.00 and set an "overweight" rating on the stock in a research report on Friday, October 9th. TD Cowen cut their target price on PepsiCo from $145.00 to $133.00 and set a "hold" rating on the stock in a research report on Monday, September 28th. Finally, Barclays decreased their price target on PepsiCo from $133.00 to $126.00 and set an "equal weight" rating on the stock in a report on Monday, October 12th. One equities research 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 company. Based on data from MarketBeat, PepsiCo presently has a consensus rating of "Hold" and a consensus target price of $143.28.

Insider Activity at PepsiCo

In other PepsiCo news, Director Robert Pohlad purchased 184,646 shares of PepsiCo stock in a transaction dated Wednesday, October 14th. The shares were purchased at an average cost of $128.28 per share, for a total transaction of $23,686,388.88. Following the completion of the acquisition, the director owned 433,009 shares in the company, valued at $55,546,394.52. This represents a 74.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ramon Laguarta sold 30,000 shares of the firm's stock in a transaction that occurred 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 directly owned 491,645 shares of the company's stock, 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. Corporate insiders own 0.12% of the company's stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $137.27 on Wednesday. The company has a market capitalization of $187.06 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 4.19 and a beta of 0.31. PepsiCo, Inc. has a 12 month low of $123.47 and a 12 month high of $171.48. The firm's 50-day moving average is $133.28 and its 200 day moving average is $145.82. The company has a current ratio of 0.94, a quick ratio of 0.76 and a debt-to-equity ratio of 1.90.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 earnings per share 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 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 revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts predict that PepsiCo, Inc. will post 8.39 EPS for the current year.

Key Stories Impacting PepsiCo

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 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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