PepsiCo, Inc. $PEP Shares Newly Acquired by TSG Advice Partners LLC

TSG Advice Partners LLC bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 4,193 shares of the company’s stock, valued at approximately $568,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Welch Group LLC boosted its stake in shares of PepsiCo by 2.1% during the 3rd quarter. Welch Group LLC now owns 353,597 shares of the company’s stock worth $44,808,000 after purchasing an additional 7,323 shares during the last quarter. True Freedom Investing LLC grew its holdings in shares of PepsiCo by 8.7% during the third quarter. True Freedom Investing LLC now owns 40,304 shares of the company’s stock worth $5,107,000 after buying an additional 3,223 shares in the last quarter. Traynor Capital Management Inc. raised its position in shares of PepsiCo by 32.9% in the third quarter. Traynor Capital Management Inc. now owns 3,052 shares of the company’s stock valued at $387,000 after buying an additional 756 shares during the last quarter. Orca Investment Management LLC raised its position in shares of PepsiCo by 589.3% in the third quarter. Orca Investment Management LLC now owns 25,406 shares of the company’s stock valued at $3,219,000 after buying an additional 21,720 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of PepsiCo by 7.7% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 191,162 shares of the company’s stock valued at $24,240,000 after buying an additional 13,607 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP opened at $140.42 on Tuesday. The company has a market cap of $191.36 billion, a P/E ratio of 17.64, a P/E/G ratio of 3.96 and a beta of 0.35. The firm’s 50 day moving average is $133.43 and its two-hundred day moving average is $145.86. PepsiCo, Inc. has a fifty-two week low of $123.47 and a fifty-two week high of $171.48. The company has a quick ratio of 0.76, a current ratio of 0.94 and a debt-to-equity ratio of 1.90.

PepsiCo (NASDAQ:PEP) last announced 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 business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.29 EPS. Analysts expect that PepsiCo, Inc. will post 8.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert Pohlad bought 184,646 shares of PepsiCo stock in a transaction that occurred on Wednesday, October 14th. The shares were 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 $55,546,394.52. The trade was a 74.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ramon Laguarta sold 30,000 shares of the business’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 sale, the chief executive officer directly owned 491,645 shares of the company’s stock, valued at approximately $66,435,988.85. This trade represents a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. BNP Paribas Exane decreased their target price on shares of PepsiCo from $161.00 to $157.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. JPMorgan Chase & Co. cut their price target on PepsiCo from $138.00 to $137.00 and set a “neutral” rating for the company in a report on Friday, October 9th. Piper Sandler reduced their price target on PepsiCo from $176.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Evercore decreased their price objective on PepsiCo from $150.00 to $135.00 in a report on Wednesday, September 30th. Finally, Morgan Stanley set a $145.00 price objective on PepsiCo in a research report on Friday, October 9th. One equities research 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $143.28.

About PepsiCo

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.