PepsiCo, Inc. $PEP Stake Increased by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co Wealth Management increased its PepsiCo stake by 11.8% in the third quarter, adding 8,799 shares to hold 83,533 shares valued at approximately $10.6 million. Institutional investors collectively own 73.07% of PepsiCo.
• PepsiCo reported quarterly earnings of $2.34 per share, exceeding estimates of $2.29, while revenue rose 5.6% year over year to $25.27 billion.
• PEP shares opened at $140.42, while analysts maintain a consensus “Hold” rating and an average price target of $143.28. Recent insider activity was mixed: the CEO sold 30,000 shares, while a director purchased 184,646 shares.

GRIMES & Co WEALTH MANAGEMENT LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 83,533 shares of the company's stock after purchasing an additional 8,799 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in PepsiCo were worth $10,585,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PEP. Wilkerson Advisory Group LLC lifted its holdings in shares of PepsiCo by 3.3% during the 1st quarter. Wilkerson Advisory Group LLC now owns 2,040 shares of the company's stock valued at $317,000 after acquiring an additional 66 shares in the last quarter. Pittenger & Anderson Inc. lifted its stake in shares of PepsiCo by 0.3% during the first quarter. Pittenger & Anderson Inc. now owns 24,895 shares of the company's stock worth $3,866,000 after purchasing an additional 69 shares in the last quarter. Cohen Investment Advisors LLC boosted its position in shares of PepsiCo by 1.9% in the first quarter. Cohen Investment Advisors LLC now owns 3,770 shares of the company's stock worth $585,000 after buying an additional 71 shares during the period. Bogart Wealth LLC boosted its position in shares of PepsiCo by 2.1% in the first quarter. Bogart Wealth LLC now owns 3,526 shares of the company's stock worth $548,000 after buying an additional 72 shares during the period. Finally, Centerpoint Advisors LLC grew its stake in shares of PepsiCo by 4.1% in the second quarter. Centerpoint Advisors LLC now owns 1,918 shares of the company's stock valued at $260,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Insider Buying and Selling at PepsiCo

In related news, CEO Ramon Laguarta sold 30,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 491,645 shares of the company's stock, valued at $66,435,988.85. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Pohlad acquired 184,646 shares of PepsiCo stock in a transaction dated Wednesday, October 14th. The shares were bought at an average cost of $128.28 per share, with a total value of $23,686,388.88. Following the completion of the purchase, the director owned 433,009 shares in the company, valued at approximately $55,546,394.52. This represents a 74.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.12% of the stock is currently owned by company insiders.

PepsiCo Stock Performance

Shares of PEP stock opened at $140.42 on Tuesday. The firm has a market capitalization of $191.36 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 3.96 and a beta of 0.35. 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 12-month low of $123.47 and a 12-month high of $171.48. The business has a 50 day simple moving average of $133.43 and a 200 day simple moving average of $145.86.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.05. The business had revenue of $25.27 billion for 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 company's revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.29 earnings per share. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler dropped their target price on PepsiCo from $176.00 to $140.00 and set an "overweight" rating on the stock in a report on Friday, October 9th. Morgan Stanley set a $145.00 price target on PepsiCo in a report on Friday, October 9th. Wells Fargo & Company lowered their price objective on shares of PepsiCo from $140.00 to $135.00 and set an "equal weight" rating for the company in a research report on Monday, October 5th. Freedom Broker raised shares of PepsiCo from a "hold" rating to a "strong-buy" rating in a research report on Saturday, October 10th. Finally, Weiss Ratings lowered PepsiCo from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, September 24th. One equities 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $143.28.

PepsiCo Profile

PepsiCo, Inc NASDAQ: PEP is a global food and beverage company whose portfolio includes Pepsi-Cola, Mountain Dew, Gatorade, Lay's, Doritos, Cheetos, Quaker, Tostitos, Fritos, and SodaStream. Its products span carbonated soft drinks, sports and energy beverages, bottled water, juices, convenient foods, snacks, and other packaged food offerings.

The company sells products through retail stores, restaurants, food-service providers, e-commerce platforms, and other distribution channels. PepsiCo serves consumers in North America and international markets across Latin America, Europe, Africa, the Middle East, and Asia-Pacific.

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