Keybank National Association OH Has $148.95 Million Stake in PepsiCo, Inc. $PEP

Key Points

• KeyBank National Association OH increased its holding in PepsiCo by 11.7% in Q4 to 1,037,841 shares—about $148.95 million, roughly 0.08% of the company per its SEC filing.
• PepsiCo posted a Q1 beat ($1.61 EPS vs. $1.55 est.) with revenue of $19.44B (up 8.5% YoY), set FY2026 EPS guidance of 8.465–8.628, authorized a $10 billion buyback (~4.7% of shares) and yields 3.6% via its dividend.

Keybank National Association OH boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,037,841 shares of the company's stock after buying an additional 108,702 shares during the period. Keybank National Association OH owned approximately 0.08% of PepsiCo worth $148,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Aries Wealth Management lifted its stake in PepsiCo by 0.5% in the fourth quarter. Aries Wealth Management now owns 15,379 shares of the company's stock valued at $2,207,000 after buying an additional 77 shares during the period. Westhampton Capital LLC grew its position in shares of PepsiCo by 0.3% during the 4th quarter. Westhampton Capital LLC now owns 29,185 shares of the company's stock worth $4,189,000 after buying an additional 90 shares during the period. Cadence Bank increased its stake in shares of PepsiCo by 3.9% in the 4th quarter. Cadence Bank now owns 106,439 shares of the company's stock valued at $15,276,000 after acquiring an additional 4,006 shares during the last quarter. Oakworth Capital Inc. raised its position in shares of PepsiCo by 2.0% in the 4th quarter. Oakworth Capital Inc. now owns 9,023 shares of the company's stock valued at $1,295,000 after acquiring an additional 173 shares during the period. Finally, Flossbach Von Storch SE boosted its stake in PepsiCo by 3.9% during the 4th quarter. Flossbach Von Storch SE now owns 6,107,676 shares of the company's stock worth $876,574,000 after acquiring an additional 228,783 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent analyst reports. Barclays upped their target price on shares of PepsiCo from $154.00 to $158.00 and gave the company an "equal weight" rating in a research note on Monday, April 20th. Wells Fargo & Company boosted their price target on shares of PepsiCo from $154.00 to $165.00 and gave the company an "equal weight" rating in a report on Wednesday, February 4th. The Goldman Sachs Group upped their price objective on shares of PepsiCo from $180.00 to $183.00 and gave the company a "buy" rating in a research report on Friday, April 17th. Evercore raised their price objective on PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. Finally, UBS Group decreased their target price on PepsiCo from $190.00 to $186.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $170.26.

PepsiCo Stock Performance

Shares of PEP opened at $156.29 on Wednesday. The stock has a market capitalization of $213.61 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.82 and a beta of 0.40. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $171.48. The firm has a fifty day simple moving average of $158.26 and a 200 day simple moving average of $152.34. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98.

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

PepsiCo declared that its board has authorized a stock buyback program on Tuesday, February 3rd that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 6th were issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, March 6th. PepsiCo's dividend payout ratio is presently 89.32%.

Key Headlines Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Signed a 10‑year Virtual Power Purchase Agreement with Givaudan, Smurfit WestRock and Statkraft to source wind power in Spain—strengthens decarbonization progress, locks energy supply/pricing and supports ESG targets that institutional investors value. PepsiCo VPPA announcement
• Positive Sentiment: CMO signals Walmart Connect is being used as “launch media,” indicating stronger retail-media activation and faster new-product rollouts at a major retail partner—could improve promotional ROI and speed to shelf for new SKUs. PepsiCo CMO / Walmart Connect
• Positive Sentiment: Continuing product innovation with a protein push (Quaker Protein Rice Crisps and a MUG Root Beer “Brotein” bundle) to capture higher‑growth, health‑oriented occasions—helps diversify mix and supports margin expansion over time. PepsiCo protein push
• Positive Sentiment: Reinforced income story—named among elite “Dividend Kings” and featured on lists highlighting stable sales and dividend growth, supporting demand from yield‑focused investors. Dividend king recognition
• Positive Sentiment: Analyst/market commentary remains constructive—recent bullish write‑ups highlight upside at current multiples given stable cash flow and product pipeline. Bullish analysis
• Neutral Sentiment: Global marketing push: Mirinda relaunched with a “Smile Please” platform—brand-building activity that supports long‑term awareness but is unlikely to move near‑term results materially. Mirinda global launch
• Negative Sentiment: Peer pressure from Coca‑Cola’s stronger Q1 print (KO jumped) could shift investor attention and valuation multiple dynamics in the beverage space, creating short‑term relative weakness risk for PepsiCo. Coca‑Cola Q1 beat

PepsiCo Company 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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