Bell Bank 13F: Adds $2M to PepsiCo (PEP) Stake

Bell Bank grew its holdings in PepsiCo, Inc. PEP by 15,858 shares during the quarter, according to a Form 13F filing with the SEC on October 21, 2026.

PEP PepsiCo, Inc.

$135.17 ▼ -2.07% year to date

1M 3M YTD

Daily close · Oct 21, 2026

What Changed in Bell Bank's PepsiCo Position

The financial institution lifted its stake by 23.2% to end the period with 83,997 shares of the beverage and snack maker. The increased holding carried a reported value of $10,644,100, up from its prior position of 68,139 shares.

Other Institutional Activity in PepsiCo

Integrated Advisors Network grew its holdings by 11,368 shares, ending with 32,752 shares worth about $4,150,366 following a 53.2% increase reported on October 20, 2026.

PepsiCo, Inc. Stock Up 1.7%

PepsiCo shares recently traded around $134.02 as of October 22, 2026, sitting below the closing price of $134.70 recorded on the filing date of October 21, 2026. The stock trades below its 200-day moving average and roughly 21.8% below its 52-week high of $171.48, while holding above its 52-week low of $123.47.

Recent Earnings

The company generated trailing-twelve-month revenue of $98,241,003,520 alongside basic earnings of $7.95 per share. Profitability metrics include a net profit margin of 11.1% and a return on equity of 52.2%. The next quarterly earnings report is scheduled for release on February 2, 2027.

Dividend

PepsiCo pays an annual dividend rate of $5.92 per share, giving the stock a dividend yield of 4.4% with a payout ratio of 73.0%.

Insider Buying and Selling at PepsiCo, Inc.

Company insiders completed several transactions prior to the filing. Chief Executive Officer Ramon L. Laguarta sold 27,945 shares on March 2, 2026, at an average price of $167.39 for a total of $4,677,610. Officer Eugene Willemsen disposed of 6,500 shares valued at $1,068,923 on March 4, 2026. General Counsel David James Flavell sold 2,900 shares on July 27, 2026, at $139.54 per share totaling $404,674. Meanwhile, Director Robert C. Pohlad picked up 184,646 shares on October 14, 2026, at $128.28 per share for a total value of $23,686,388.88.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock through October. On October 9, 2026, Citigroup maintained its Neutral rating while adjusting its price target from $142.00 to $135.00. JP Morgan kept a Neutral rating on October 9, 2026, moving its target from $138.00 to $137.00. BNP Paribas maintained an Outperform rating on October 9, 2026, lowering its target to $157.00 from $161.00. Piper Sandler maintained an Overweight rating on October 9, 2026, moving its target down from $176.00 to $140.00. Barclays maintained an Equal-Weight rating on October 12, 2026, adjusting its target from $133.00 to $126.00. Across the broader analyst community, the stock holds a consensus hold rating and a mean price target of $141.59 based on 22 analyst opinions.

About PepsiCo

Headquartered in Purchase, New York, PepsiCo, Inc. manufactures, markets, and distributes a wide variety of convenient foods and beverages worldwide. Its portfolio includes familiar snack and drink brands distributed across North American and international markets through six primary operating segments, supported by a global workforce of 306,000 employees.

Bottom Line

Bell Bank's increased stake reflects continued institutional interest as the company approaches its next earnings announcement in February 2027. Investors will continue tracking analyst target adjustments and upcoming filing disclosures to gauge institutional sentiment.