PepsiCo, Inc. $PEP Holdings Lessened by Carnegie Lake Advisors LLC

Key Points

• Carnegie Lake Advisors cut its PepsiCo stake by 81.5% in the third quarter, selling 9,515 shares and ending the period with 2,159 shares valued at about $274,000. Other major institutional investors reported increasing their holdings.
• Insider trading was mixed: Director Robert Pohlad bought 184,646 shares, while CEO Ramon Laguarta sold 30,000 shares.
• PepsiCo beat quarterly earnings and revenue estimates, with revenue up 5.6% year over year, but the article reports the company lowered its 2026 EPS growth outlook amid North American margin pressure. Analysts’ consensus rating is Hold.

Carnegie Lake Advisors LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 81.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,159 shares of the company's stock after selling 9,515 shares during the period. Carnegie Lake Advisors LLC's holdings in PepsiCo were worth $274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. BlackRock Inc. raised its position in PepsiCo by 2.1% during the second quarter. BlackRock Inc. now owns 118,281,854 shares of the company's stock valued at $16,015,363,000 after purchasing an additional 2,440,377 shares during the period. State Street Corp increased its position in shares of PepsiCo by 1.7% during the 2nd quarter. State Street Corp now owns 60,406,932 shares of the company's stock valued at $8,179,099,000 after purchasing an additional 987,582 shares during the last quarter. Bank of America Corp DE raised its holdings in PepsiCo by 0.6% during the 1st 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 during the period. Amundi raised its holdings in 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 buying an additional 1,647,506 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in PepsiCo by 4.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,817,684 shares of the company's stock worth $1,600,114,000 after buying an additional 549,336 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

Insider Activity at PepsiCo

In other news, Director Robert Pohlad purchased 184,646 shares of the 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 completion of the acquisition, the director owned 433,009 shares of the company's stock, valued at approximately $55,546,394.52. This trade represents a 74.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ramon Laguarta sold 30,000 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 491,645 shares in the company, valued at $66,435,988.85. The trade was a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.12% of the company's stock.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo renewed its beverage partnership with KFC across eight international markets. The deal extends a longstanding relationship and could support sales and distribution as KFC expands internationally. PepsiCo Secures Renewal Across Select KFC International Markets
• Neutral Sentiment: A valuation analysis argues PEP could be undervalued, citing the KFC renewal and recent share performance. That is an analyst view, not a change to the company’s financial results. PepsiCo (PEP) Could Be 29% Undervalued Following Its KFC Deal Renewal
• Negative Sentiment: PepsiCo lowered its 2026 EPS growth outlook as North American margin pressures persist. Strong international growth and productivity savings may help offset the weakness, but the guidance cut is a potential drag on investor expectations. PepsiCo Lowers 2026 EPS Outlook as North America Pressures Margins
• Negative Sentiment: PepsiCo’s CEO reportedly sold shares after the guidance reduction, which could add to investor concerns about the weaker outlook. These 3 Underperforming Stocks Are Seeing Notable CEO Insider Trades
• Negative Sentiment: India’s food regulator has challenged PepsiCo’s energy-drink labeling, alleging the branding could mislead consumers. The dispute introduces potential regulatory and reputational risk, though the articles do not specify any financial penalty. PepsiCo, Monster face FSSAI pushback over energy drink labelling

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEP. Jefferies Financial Group reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, October 8th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of PepsiCo in a research note on Friday, October 9th. Morgan Stanley set a $145.00 price target on shares of PepsiCo in a report on Friday, October 9th. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $138.00 to $137.00 and set a "neutral" rating on the stock in a research report on Friday, October 9th. Finally, TD Cowen decreased their price objective on shares of PepsiCo from $145.00 to $133.00 and set a "hold" rating for the company in a research note on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, PepsiCo has a consensus rating of "Hold" and an average target price of $143.28.

PepsiCo Stock Performance

NASDAQ PEP opened at $141.34 on Monday. The stock has a market cap of $192.61 billion, a PE ratio of 17.76, a PEG ratio of 4.21 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 company's 50-day moving average price is $133.33 and its 200-day moving average price is $145.75. 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 released its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.05. The company had revenue of $25.27 billion during the quarter, compared to analysts' expectations of $24.95 billion. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The firm's quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 8.42 earnings per share for the current year.

PepsiCo Profile

PepsiCo, Inc is a global food and beverage company that develops, manufactures, markets and distributes a broad range of products. Its portfolio includes snacks such as Lay's, Doritos and Cheetos, as well as beverages including Pepsi, Gatorade and Mountain Dew.

The company was formed in 1965 through the merger of Pepsi-Cola and Frito-Lay. Its products are sold in more than 200 countries and territories through retail, food-service and other distribution channels.

PepsiCo is headquartered in Purchase, New York.

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