Jennison Associates LLC Has $29.54 Million Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• Jennison Associates LLC cut its stake in PepsiCo by 32.8% in Q4, selling 100,538 shares and retaining 205,851 shares valued at about $29.54 million.
• PepsiCo beat quarterly estimates with $1.61 EPS (vs. $1.55 est.) and $19.44B revenue, set FY2026 guidance of 8.465–8.628 EPS, and the board approved a $10 billion share repurchase while paying a $1.4225 quarterly dividend (annualized $5.69, ~3.6% yield).
• Institutional ownership is high at 73.07%, with large funds like Vanguard, State Street and Invesco increasing positions, reflecting strong institutional backing despite Jennison's reduction.

Jennison Associates LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 32.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 205,851 shares of the company's stock after selling 100,538 shares during the period. Jennison Associates LLC's holdings in PepsiCo were worth $29,544,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position 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 during the last quarter. State Street Corp boosted its position in PepsiCo by 1.8% during the third quarter. State Street Corp now owns 59,499,819 shares of the company's stock valued at $8,356,155,000 after purchasing an additional 1,079,970 shares during the last quarter. Invesco Ltd. boosted its position in PepsiCo by 7.6% during the third quarter. Invesco Ltd. now owns 13,617,747 shares of the company's stock valued at $1,912,476,000 after purchasing an additional 958,701 shares during the last quarter. Legal & General Group Plc boosted its position in PepsiCo by 1.3% during the third quarter. Legal & General Group Plc now owns 8,902,664 shares of the company's stock valued at $1,250,290,000 after purchasing an additional 118,286 shares during the last quarter. Finally, Amundi boosted its position in PepsiCo by 30.0% during the third quarter. Amundi now owns 8,641,588 shares of the company's stock valued at $1,207,230,000 after purchasing an additional 1,995,362 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Price Performance

NASDAQ PEP opened at $157.39 on Friday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The stock's 50-day moving average is $157.96 and its two-hundred day moving average is $152.40. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The firm has a market cap of $215.11 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 2.90 and a beta of 0.38.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The company reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.06. The business had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share. PepsiCo has set its FY 2026 guidance at 8.465-8.628 EPS. On average, analysts anticipate that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th were paid a $1.4225 dividend. The ex-dividend date was Friday, March 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.6%. PepsiCo's payout ratio is presently 89.32%.

PepsiCo declared that its board has approved a share repurchase program on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Key Stories Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo signed a 10‑year virtual power purchase agreement with Statkraft to cut ~32,000 metric tons of CO2 annually across Europe — supports sustainability targets and may lower long‑term energy costs. PepsiCo inks 10-year renewable energy deal to cut emissions across Europe
• Positive Sentiment: Zacks Research raised multiple near‑ and medium‑term EPS estimates (including FY2027 and FY2028), signaling improved analyst expectations for profitability. PepsiCo (PEP) analyst note (MarketBeat summary)
• Positive Sentiment: PepsiCo is expanding electrification of distribution with a 50 electric delivery truck rollout in Fresno — incremental cost and emissions benefits and supports supply‑chain decarbonization narrative. Fresno PepsiCo rolls out 50 electric delivery trucks, aims to reduce emissions
• Positive Sentiment: Company announced a 2026 growth plan focused on cost cuts and product innovation — potential margin improvement and revenue growth tailwinds if execution holds. PepsiCo sets 2026 growth plan with cost cuts, innovation push
• Neutral Sentiment: Analyst and media pieces comparing Coca‑Cola vs. PepsiCo provide context for relative valuation and may drive short‑term trading but contain no new company‑specific catalysts. Coca-Cola vs. PepsiCo: Which Stock Is the Better Buy?
• Neutral Sentiment: PepsiCo plans to end its bottling/distribution partnership with Royal Unibrew in parts of Northern Europe by 2028 — strategic operational change that will require new local arrangements (potential short‑term costs, long‑term control). PepsiCo Bottling Shift In Northern Europe And What It Means For Valuation
• Negative Sentiment: PepsiCo apologised to South African consumers and pulled its ProNutro formula from shelves after a backlash — immediate reputational damage, potential regulatory scrutiny and lost sales in the market; this appears to be the most direct near‑term negative catalyst. PepsiCo apologises to South Africans and pulls ProNutro from shelves over formula backlash
• Negative Sentiment: PepsiCo is named in a consumer lawsuit alleging ultraprocessed foods can be addictive — legal risk and reputational headlines that could pressure longer‑term consumer perception and marketing costs. Food giants hit with consumer lawsuit calling ultraprocessed ingredients addictive
• Negative Sentiment: Erste Group trimmed FY2026/27 EPS estimates slightly — a small downward analyst revision that marginally reduces near‑term analyst sentiment. Erste Group Bank analyst note (MarketBeat summary)

Analysts Set New Price Targets

A number of analysts recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft lifted their price objective on PepsiCo from $169.00 to $173.00 and gave the company a "buy" rating in a research report on Friday, April 17th. Royal Bank Of Canada cut their target price on PepsiCo from $165.00 to $163.00 and set a "sector perform" rating on the stock in a report on Thursday, April 9th. TD Cowen raised their target price on PepsiCo from $162.00 to $165.00 and gave the company a "hold" rating in a report on Friday, February 20th. Wells Fargo & Company raised their target price on PepsiCo from $154.00 to $165.00 and gave the company an "equal weight" rating in a report on Wednesday, February 4th. Finally, Argus upgraded PepsiCo to a "hold" rating in a report on Tuesday, February 17th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $170.26.

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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