Bank of New York Mellon Corp Sells 1,596,854 Shares of PepsiCo, Inc. $PEP

Key Points

• Bank of New York Mellon reduced its PepsiCo stake by 12.3% in the fourth quarter, selling 1,596,854 shares and leaving it with about 11.4 million shares worth roughly $1.64 billion.
• PepsiCo continues to attract institutional ownership, with major investors like Vanguard, State Street, Geode, Norges Bank and Invesco also adjusting positions; hedge funds and other institutions now own about 73.07% of the stock.
• Operationally, PepsiCo beat quarterly expectations with EPS of $1.61 and revenue of $19.44 billion, while also announcing a higher quarterly dividend of $1.48 and a new $10 billion share buyback authorization.

Bank of New York Mellon Corp trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,433,964 shares of the company's stock after selling 1,596,854 shares during the period. Bank of New York Mellon Corp owned approximately 0.84% of PepsiCo worth $1,641,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in PepsiCo by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company's stock valued at $19,875,205,000 after purchasing an additional 1,612,652 shares in the last quarter. State Street Corp grew its stake in shares of PepsiCo by 1.8% in the 3rd quarter. State Street Corp now owns 59,499,819 shares of the company's stock worth $8,356,155,000 after buying an additional 1,079,970 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PepsiCo by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company's stock valued at $4,814,835,000 after buying an additional 360,936 shares in the last quarter. Norges Bank bought a new position in shares of PepsiCo in the 4th quarter valued at about $3,018,813,000. Finally, Invesco Ltd. grew its position in PepsiCo by 7.6% in the third quarter. Invesco Ltd. now owns 13,617,747 shares of the company's stock worth $1,912,476,000 after acquiring an additional 958,701 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on PepsiCo from $165.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Monday, May 18th. TD Cowen boosted their target price on PepsiCo from $162.00 to $165.00 and gave the company a "hold" rating in a research report on Friday, February 20th. Barclays increased their price target on PepsiCo from $154.00 to $158.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Evercore lifted their price objective on shares of PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. Finally, Argus upgraded shares of PepsiCo to a "hold" rating in a research report on Tuesday, February 17th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $170.11.

Key Stories Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo is taking steps to keep products affordable without sacrificing innovation, which could help protect volumes as consumers remain budget-conscious. How PepsiCo Is Achieving Affordability
• Positive Sentiment: The company is rolling out new products such as premium energy drink brand Adrenaline Rush and protein popcorn, signaling efforts to drive growth beyond core snacks and beverages. PepsiCo launches premium energy drink brand 'Adrenaline Rush' PepsiCo debuts protein popcorn
• Positive Sentiment: Analysts and media coverage continue to highlight PepsiCo as a long-term dividend grower with strong cash flow, which supports its defensive investment appeal. PepsiCo and P&G are long-term dividend growers Why PepsiCo (PEP) Remains a Top Dividend King Despite Industry Challenges
• Neutral Sentiment: Recent commentary suggests PepsiCo’s brand restaging and turnaround plan are improving the outlook, but investors are still waiting to see whether those efforts translate into sustained organic sales growth. Can Brand Restaging Meaningfully Lift PepsiCo's Organic Sales Outlook?
• Neutral Sentiment: Coverage questioning whether PEP can reach a new all-time high reflects uncertainty around the stock’s near-term momentum after a recent pullback. Will Pepsi Stock Hit a New All Time High in 2026?
• Negative Sentiment: PepsiCo has been underperforming lately, with shares well below recent moving averages, suggesting investors remain cautious about slower growth and consumer spending pressure. Is PepsiCo Stock Underperforming the Dow?

PepsiCo Stock Up 0.3%

Shares of PEP opened at $142.00 on Wednesday. The firm has a fifty day moving average price of $152.90 and a 200-day moving average price of $152.64. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $194.08 billion, a P/E ratio of 22.29, a P/E/G ratio of 2.56 and a beta of 0.35. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $171.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.55 by $0.06. The company had revenue of $19.44 billion for the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 3rd that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to purchase up to 4.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.48 dividend. The ex-dividend date is Friday, June 5th. This is a positive change from PepsiCo's previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.2%. PepsiCo's dividend payout ratio (DPR) is presently 89.32%.

PepsiCo Profile

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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