Associated Banc Corp Makes New $14.48 Million Investment in PepsiCo, Inc. $PEP

Key Points

• Associated Banc Corp opened a new PepsiCo position, acquiring 114,292 shares worth approximately $14.48 million in the third quarter. Institutional investors and hedge funds collectively own 73.07% of PEP.
• PepsiCo’s latest quarterly results topped estimates: EPS was $2.34 versus $2.29 expected, and revenue of $25.27 billion rose 5.6% year over year.
• PEP shares were reported down 2.2%, while analysts’ consensus rating was Hold with an average price target of $143.28.

Associated Banc Corp acquired a new position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 114,292 shares of the company's stock, valued at approximately $14,483,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PEP. BlackRock Inc. boosted its holdings in PepsiCo by 2.1% during the second 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 in the last quarter. State Street Corp increased its holdings in PepsiCo by 1.7% in the second 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 in the last quarter. Bank of America Corp DE increased its holdings in 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 in the last quarter. Amundi lifted its position in shares of PepsiCo by 16.8% during the 1st quarter. Amundi now owns 11,444,671 shares of the company's stock valued at $1,777,243,000 after acquiring an additional 1,647,506 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of PepsiCo by 4.9% during the 2nd 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 acquiring an additional 549,336 shares during the period. Institutional investors and hedge funds own 73.07% of the company's stock.

More PepsiCo News

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 Stock Down 2.2%

PEP stock opened at $137.27 on Wednesday. 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 50 day simple moving average is $133.28 and its 200-day simple moving average is $145.82. PepsiCo, Inc. has a 12 month low of $123.47 and a 12 month high of $171.48. The firm has a market capitalization of $187.06 billion, a PE ratio of 16.70, a P/E/G ratio of 4.19 and a beta of 0.31.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Wednesday, October 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.05. PepsiCo had a return on equity of 53.08% and a net margin of 11.09%. The firm had revenue of $25.27 billion for the quarter, compared to analyst estimates of $24.95 billion. During the same quarter in the prior year, the company earned $2.29 EPS. PepsiCo's revenue was up 5.6% on a year-over-year basis. Equities analysts expect that PepsiCo, Inc. will post 8.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group restated a "hold" rating on shares of PepsiCo in a report on Thursday, October 8th. Freedom Broker raised PepsiCo from a "hold" rating to a "strong-buy" rating in a report on Saturday, October 10th. Wells Fargo & Company decreased their target price on PepsiCo from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday, October 5th. Piper Sandler lowered their target price on PepsiCo from $176.00 to $140.00 and set an "overweight" rating on the stock in a report on Friday, October 9th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of PepsiCo in a research report on Friday, October 9th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $143.28.

Insiders Place Their Bets

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

PepsiCo 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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