Villere ST Denis J & Co. LLC Sells 13,763 Shares of PepsiCo, Inc. $PEP

Key Points

• Villere ST Denis J & Co. cut its PepsiCo stake by 11.1% in the third quarter, selling 13,763 shares; it still held 110,737 shares valued at about $14.0 million.
• PepsiCo beat quarterly estimates, reporting earnings of $2.34 per share and revenue of $25.27 billion, up 5.6% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $143.28; the company also faces pressure in North America, including planned job cuts and new competition in hydration drinks.

Villere ST Denis J & Co. LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,737 shares of the company's stock after selling 13,763 shares during the period. Villere ST Denis J & Co. LLC's holdings in PepsiCo were worth $14,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Wilkerson Advisory Group LLC increased its stake in PepsiCo by 3.3% during the first quarter. Wilkerson Advisory Group LLC now owns 2,040 shares of the company's stock worth $317,000 after acquiring an additional 66 shares during the last quarter. Centerpoint Advisors LLC lifted its stake in shares of PepsiCo by 4.1% in the 2nd quarter. Centerpoint Advisors LLC now owns 1,918 shares of the company's stock valued at $260,000 after purchasing an additional 75 shares during the last quarter. JNBA Financial Advisors boosted its holdings in shares of PepsiCo by 2.0% in the 2nd quarter. JNBA Financial Advisors now owns 3,848 shares of the company's stock worth $521,000 after purchasing an additional 77 shares during the period. 55 North Private Wealth LLC boosted its holdings in shares of PepsiCo by 4.2% in the 2nd quarter. 55 North Private Wealth LLC now owns 1,918 shares of the company's stock worth $260,000 after purchasing an additional 78 shares during the period. Finally, Core Wealth Advisors Inc. increased its position in shares of PepsiCo by 3.5% during the 1st quarter. Core Wealth Advisors Inc. now owns 2,335 shares of the company's stock valued at $363,000 after purchasing an additional 79 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of PEP stock opened at $141.88 on Tuesday. The stock has a 50 day moving average price of $133.35 and a 200 day moving average price of $145.72. PepsiCo, Inc. has a 52-week low of $123.47 and a 52-week high of $171.48. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.76 and a current ratio of 0.94. The firm has a market capitalization of $193.35 billion, a P/E 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 released its earnings results on Wednesday, October 7th. The company reported $2.34 earnings per share 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 analyst estimates of $24.95 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The business's revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.42 earnings per share for the current year.

Key Stories 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.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PEP shares. TD Cowen decreased their price target on PepsiCo from $145.00 to $133.00 and set a "hold" rating on the stock in a report on Monday, September 28th. BNP Paribas Exane dropped their price objective 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. The Goldman Sachs Group reiterated a "buy" rating and set a $165.00 price objective on shares of PepsiCo in a research report on Thursday, October 8th. Evercore reduced their target price on shares of PepsiCo from $150.00 to $135.00 in a research note on Wednesday, September 30th. Finally, Jefferies Financial Group restated a "hold" rating on shares of PepsiCo in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $143.28.

Insider Activity

In other PepsiCo news, CEO Ramon Laguarta sold 30,000 shares of the company's stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $135.13, for a total value of $4,053,900.00. Following the transaction, the chief executive officer directly owned 491,645 shares in the company, valued at $66,435,988.85. This represents a 5.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert C. Pohlad bought 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, for a total transaction of $23,686,388.88. Following the completion of the transaction, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.12% of the company's stock.

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.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.