PepsiCo, Inc. $PEP Shares Sold by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management cut its PepsiCo stake by 68.2% in the third quarter, selling 107,000 shares and retaining 49,880 shares valued at about $6.32 million.
• Analyst views remain mixed but lean toward Hold: 14 analysts rated the stock Hold, and the consensus price target was $143.28.
• PepsiCo’s latest quarterly results topped estimates, with EPS of $2.34 versus $2.29 expected and revenue up 5.6% year over year to $25.27 billion.

Lockheed Martin Investment Management Co. reduced its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 68.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,880 shares of the company's stock after selling 107,000 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in PepsiCo were worth $6,321,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Texas Bank & Trust Co increased its position in shares of PepsiCo by 4.1% during the 3rd quarter. Texas Bank & Trust Co now owns 7,074 shares of the company's stock valued at $896,000 after purchasing an additional 280 shares during the last quarter. Vestor Capital LLC lifted its position in PepsiCo by 185.8% in the 3rd quarter. Vestor Capital LLC now owns 2,787 shares of the company's stock worth $353,000 after buying an additional 1,812 shares during the last quarter. Kestra Investment Management LLC boosted its stake in PepsiCo by 19.0% in the third quarter. Kestra Investment Management LLC now owns 6,100 shares of the company's stock worth $773,000 after buying an additional 976 shares in the last quarter. Fulcrum Asset Management LLP boosted its stake in PepsiCo by 30.6% in the third quarter. Fulcrum Asset Management LLP now owns 1,085 shares of the company's stock worth $140,000 after buying an additional 254 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in PepsiCo by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 152,697 shares of the company's stock valued at $19,179,000 after acquiring an additional 1,457 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings downgraded shares of PepsiCo from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, September 24th. Piper Sandler cut their price objective on shares of PepsiCo from $176.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, October 9th. Freedom Broker raised shares of 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 shares of PepsiCo from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday, October 5th. Finally, BNP Paribas Exane lowered their price target on shares of PepsiCo from $161.00 to $157.00 and set an "outperform" rating for the company in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $143.28.

Key Headlines Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Consumer stocks, including the consumer-staples sector, were higher late Monday, providing a supportive backdrop for PEP. Read More.
• Positive Sentiment: PepsiCo is emphasizing zero-sugar drinks, flavored sodas and functional hydration to respond to changing preferences and pursue beverage growth. The strategy is supported by reported traction in zero-sugar offerings, though broader demand remains a question. Read More.
• Positive Sentiment: PepsiCo renewed beverage-supply agreements with KFC in eight international markets, retaining an important customer channel outside the U.S. Read More.
• Neutral Sentiment: The company is expanding holiday retail and marketing efforts, including campaigns tied to football. This could support brand visibility, but the article gives no sales impact. Read More.
• Negative Sentiment: PepsiCo plans to cut about 1,000 North American jobs as part of a turnaround and effort to streamline operations. Potential cost savings may help, but the cuts also underscore struggles in a key business region. Read More.
• Negative Sentiment: Poppi’s founders launched Jetty, a hydration brand entering a category that includes PepsiCo’s Gatorade. The new competitor may add pressure in functional beverages, although its near-term effect on PepsiCo is uncertain. Read More.

PepsiCo Trading Up 0.4%

Shares of PEP stock opened at $141.88 on Tuesday. The business has a 50-day moving average of $133.35 and a 200 day moving average of $145.72. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.94 and a quick ratio of 0.76. PepsiCo, Inc. has a 1-year low of $123.47 and a 1-year high of $171.48. The stock has a market capitalization of $193.35 billion, a PE ratio of 17.82, a P/E/G ratio of 4.24 and a beta of 0.31.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 7th. The company reported $2.34 EPS for the quarter, topping 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 business had revenue of $25.27 billion for the quarter, compared to analysts' expectations of $24.95 billion. During the same period in the previous year, the firm earned $2.29 EPS. The business's quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.42 earnings per share for the current year.

Insider Activity at PepsiCo

In other news, Director Robert C. Pohlad purchased 184,646 shares of the stock in a transaction that occurred on Wednesday, October 14th. The stock was bought at an average cost of $128.28 per share, for a total transaction of $23,686,388.88. Following the acquisition, the director directly owned 433,009 shares of the company's stock, valued at $55,546,394.52. This represents a 74.35% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ramon Laguarta sold 30,000 shares of the stock in a transaction on 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 sale, 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 currently owned by company insiders.

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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