4,875 PepsiCo, Inc. $PEP Shares Purchased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 1,108.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,315 shares of the company’s stock after purchasing an additional 4,875 shares during the period. Provenance Wealth Advisors LLC’s holdings in PepsiCo were worth $674,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Core Capital Management & Research inc. bought a new stake in shares of PepsiCo during the second quarter worth $932,000. State Street Corp raised its holdings in shares of PepsiCo by 1.7% during the second quarter. State Street Corp now owns 60,406,932 shares of the company’s stock worth $8,179,099,000 after acquiring an additional 987,582 shares during the period. First Nebraska Trust Co bought a new stake in PepsiCo in the 1st quarter valued at $10,782,000. The Manufacturers Life Insurance Company lifted its position in PepsiCo by 19.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,110,852 shares of the company’s stock valued at $150,409,000 after acquiring an additional 177,468 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in PepsiCo by 157.0% in the 1st quarter. Jennison Associates LLC now owns 529,129 shares of the company’s stock worth $82,168,000 after purchasing an additional 323,278 shares during the period. 73.07% of the stock is owned by institutional investors.

Insider Transactions at PepsiCo

In related news, Director Robert Pohlad bought 184,646 shares of the stock in a transaction that occurred on Wednesday, October 14th. The shares were acquired at an average price of $128.28 per share, with a total value of $23,686,388.88. Following the completion of the transaction, the director owned 433,009 shares in the company, valued at $55,546,394.52. The trade was a 74.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ramon Laguarta sold 30,000 shares of the company’s stock in a transaction dated 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by insiders.

PepsiCo Stock Performance

Shares of PEP opened at $142.42 on Thursday. PepsiCo, Inc. has a 12 month low of $123.47 and a 12 month high of $171.48. The firm has a fifty day simple moving average of $133.29 and a 200 day simple moving average of $145.80. The stock has a market capitalization of $194.08 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 4.09 and a beta of 0.31. 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) last released its earnings results 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. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The business had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $24.95 billion. During the same quarter last year, the firm earned $2.29 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.42 EPS for the current fiscal year.

Key Stories Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo’s snack pricing and affordability measures are reportedly helping drive volume gains and stronger consumer demand. That could support sales, although higher costs and margin pressure remain challenges. Can PepsiCo’s Snack Pricing Strategy Drive Volume Growth?
• Positive Sentiment: An expanded Taco Bell beverage partnership preserves PepsiCo’s exclusive supplier role and adds distribution opportunities for products including Mountain Dew Baja Blast, with plans for new functional and energy drinks. What Is PepsiCo Gaining From Its Expanded Beverage Partnership?
• Neutral Sentiment: Investor commentary highlights PepsiCo’s dividend record and appeal to income-focused investors. Another comparison notes improving organic sales growth, but says the earnings recovery remains sluggish; these are opinions rather than new company guidance. Clorox vs. PepsiCo: Which Dividend Stock Could Make You Richer Over the Next 10 Years?
• Negative Sentiment: India’s food regulator accused PepsiCo and Monster of marketing products with an “energy drink” label to mislead consumers. The allegations could create reputational or regulatory risk, though the reports do not detail any financial impact. India says PepsiCo, Monster marketed with ‘energy drink’ label to dupe consumers

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PEP shares. Wells Fargo & Company lowered their target price on PepsiCo from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, October 5th. Piper Sandler cut their price target on PepsiCo from $176.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, October 9th. BNP Paribas Exane cut their price target on PepsiCo from $161.00 to $157.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of PepsiCo in a research report on Thursday, October 8th. Finally, Barclays decreased their price objective on PepsiCo from $133.00 to $126.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.