Howland Capital Management 13F: Cuts PepsiCo (PEP) Stake by $1.1M

Howland Capital Management reduced its holdings in PepsiCo, Inc. PEP during the quarter, according to a Form 13F filing submitted to the SEC on October 22, 2026. The firm cut its position by 8,304 shares, a 24.1% decrease from the previous quarter. That left Howland Capital with 26,188 shares of the beverage and snack maker, with a reported value of $3,318,544.

PEP PepsiCo, Inc.

$138.11 ▲ +0.06% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Howland Capital Management's PepsiCo Position

Howland Capital held 34,492 shares of PepsiCo before the filing. By trimming its stake down to 26,188 shares, the firm pulled back its exposure during a volatile stretch for defensive consumer stocks. The filing was made public on October 22, 2026, when the stock closed at $138.83.

Other Institutional Activity in PepsiCo

Other institutional investors made various adjustments to their PepsiCo positions around the same time. LMCG Investments grew its holdings by 8,085 shares, ending with 90,849 shares worth about $11.5 million. Smith Chas P & Associates Pa Cpas added 13,571 shares, lifting its total holding to 272,823 shares worth about $35.9 million. Integrated Advisors Network grew its stake by 11,368 shares, finishing with 32,752 shares valued at approximately $4.2 million. Bell Bank added 15,858 shares to end with 83,997 shares worth about $10.6 million. Meanwhile, Orgel Wealth Management closed out its position by selling all 1,500 of its shares.

PepsiCo, Inc. Stock Up 1.7%

PepsiCo shares recently traded around $136.34 as of October 23, 2026, down about 1.8% from the event close of $138.83. The stock sits roughly 1.6% above its 50-day moving average of $134.21, but remains about 6.7% below its 200-day moving average of $146.18. Shares have moved between a 52-week low of $123.47 and a 52-week high of $171.48.

Recent Earnings

PepsiCo posted trailing twelve-month revenue of $98.2 billion alongside basic trailing earnings of $7.95 per share. The company reported a net profit margin of 11.1% and a return on equity of 52.2%. Its next quarterly earnings update is scheduled for February 2, 2027.

Dividend

PepsiCo pays an annual dividend of $5.92 per share, which gives the stock a dividend yield of 4.4% based on recent trading levels. The company's dividend payout ratio sits at 73.0%, meaning nearly three-quarters of earnings go toward shareholder payouts.

Insider Buying and Selling at PepsiCo, Inc.

Company insiders engaged in several transactions earlier in the year. 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 $4.7 million. Officer Eugene Willemsen sold 6,500 shares on March 4, 2026, valued at about $1.1 million. General Counsel David James Flavell sold 2,900 shares on July 27, 2026, at $139.54 per share for roughly $404,674. On the buying side, Director Robert C. Pohlad purchased 184,646 shares on October 14, 2026, at $128.28 per share, totaling roughly $23.7 million.

Analysts Set New Price Targets

Wall Street analysts have updated their views on the stock through October 2026. Citigroup maintained a Neutral rating with a $135 price target on October 9. JP Morgan maintained a Neutral rating with a $137 target on the same day. BNP Paribas maintained an Outperform rating with a $157 target, while Piper Sandler maintained an Overweight rating with a $140 target. Barclays maintained an Equal-Weight rating with a $126 target on October 12. Across 22 analyst opinions, the stock carries a consensus hold rating and a mean price target of $141.59.

About PepsiCo, Inc.

Headquartered in Purchase, New York, PepsiCo manufactures, markets, and sells a wide range of beverages and convenient foods globally. Its major product lines include well-known soft drinks, Quaker-branded foods, and Frito-Lay snacks distributed across North America and international markets.

Bottom Line

Howland Capital Management's reduction highlights ongoing institutional rebalancing in consumer defensive names. Investors will look toward the company's next earnings report on February 2, 2027, for further clarity on margin trends and sales growth.