92,157 PepsiCo, Inc. $PEP Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 307,178 shares of the company’s stock after selling 92,157 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in PepsiCo were worth $38,991,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Van Strum & Towne Inc. raised its stake in PepsiCo by 2.7% during the 3rd quarter. Van Strum & Towne Inc. now owns 41,866 shares of the company’s stock valued at $5,305,000 after acquiring an additional 1,114 shares in the last quarter. Three Bridge Wealth Advisors LLC grew its stake in shares of PepsiCo by 5.2% in the third quarter. Three Bridge Wealth Advisors LLC now owns 3,650 shares of the company’s stock worth $463,000 after purchasing an additional 180 shares in the last quarter. CFM Wealth Partners LLC grew its stake in shares of PepsiCo by 18.7% in the third quarter. CFM Wealth Partners LLC now owns 3,659 shares of the company’s stock worth $464,000 after purchasing an additional 576 shares in the last quarter. Bingham Private Wealth LLC increased its holdings in shares of PepsiCo by 2.9% during the third quarter. Bingham Private Wealth LLC now owns 5,317 shares of the company’s stock valued at $674,000 after purchasing an additional 152 shares during the period. Finally, Maryland State Retirement & Pension System increased its holdings in shares of PepsiCo by 13.9% during the third quarter. Maryland State Retirement & Pension System now owns 84,013 shares of the company’s stock valued at $10,646,000 after purchasing an additional 10,271 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Insider Activity at PepsiCo

In other PepsiCo news, CEO Ramon Laguarta sold 30,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer owned 491,645 shares of the company’s stock, valued at approximately $66,435,988.85. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Pohlad acquired 184,646 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were bought at an average price of $128.28 per share, with a total value of $23,686,388.88. Following the transaction, the director directly owned 433,009 shares in the company, valued at approximately $55,546,394.52. The trade was a 74.35% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PEP shares. Royal Bank Of Canada reduced their price objective on shares of PepsiCo from $161.00 to $150.00 and set a “sector perform” rating for the company in a report on Tuesday, October 6th. TD Cowen lowered their target price on shares of PepsiCo from $145.00 to $133.00 and set a “hold” rating on the stock in a research note on Monday, September 28th. Evercore dropped their price target on shares of PepsiCo from $150.00 to $135.00 in a research report on Wednesday, September 30th. Freedom Broker raised shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Finally, Piper Sandler decreased their price objective on shares of PepsiCo from $176.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, October 9th. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $143.28.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $145.44 on Friday. PepsiCo, Inc. has a twelve month low of $123.47 and a twelve month high of $171.48. The company has a current ratio of 0.94, a quick ratio of 0.76 and a debt-to-equity ratio of 1.90. The firm has a 50-day moving average of $133.64 and a two-hundred day moving average of $145.68. The company has a market capitalization of $198.20 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 4.23 and a beta of 0.31.

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, topping the consensus estimate of $2.29 by $0.05. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The company had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $24.95 billion. During the same quarter in the previous year, the company posted $2.29 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts expect that PepsiCo, Inc. will post 8.42 earnings per share for the current fiscal year.

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.