Mondrian Investment Partners 13F: Cuts PEP Stake by $33M

Mondrian Investment Partners cut its stake in PepsiCo, Inc. (PEP) by 47.7% during the third quarter, according to a Form 13F filing with the Securities and Exchange Commission on October 23, 2026.

PEP PepsiCo, Inc.

$134.98 ▼ -2.21% year to date

1M 3M YTD

Daily close · Oct 23, 2026

What Changed in Mondrian Investment Partners's PepsiCo Position

The firm sold 260,682 shares of the snack and beverage giant during the period. That left it with 286,077 shares, down from 546,759 shares previously. The remaining holdings carried a reported value of $36,251,677 at the time of the filing.

Other Institutional Activity in PepsiCo

Campbell Newman Asset Management trimmed its holdings by 7,586 shares, ending with 178,157 shares worth about $22.6 million. Howland Capital Management reduced its stake by 24.1%, shedding 8,304 shares to hold 26,188 shares valued at roughly $3.3 million. Meanwhile, LMCG Investments grew its holdings by 8,085 shares, or 9.8%, ending with 90,849 shares worth about $11.5 million.

PepsiCo, Inc. Stock Up 0.8%

PepsiCo shares recently traded around $135.77 as of October 24, 2026, matching the closing price of $135.77 recorded on the day of the filing. The stock sits about 7.1% below its 200-day moving average of $146.18 and roughly 20.8% below its 52-week high of $171.48. At the same time, it trades about 10.0% above its 52-week low of $123.47 and just under the average analyst price target.

Recent Earnings

PepsiCo reported trailing twelve month revenue of $98.24 billion alongside earnings of $7.95 per share. The company operates with a net profit margin of 11.1% and a return on equity of 52.2%, with its next earnings report scheduled for February 2, 2027.

Dividend

The company maintains an annual dividend rate of $5.92 per share, which translates to a dividend yield of 4.3% based on recent trading levels. Its dividend payout ratio sits at 73.0% of earnings.

Insider Buying and Selling at PepsiCo, Inc.

Company insiders have completed several transactions over the past year. Most recently, Chairman and CEO Ramon Laguarta sold 30,000 shares on October 21, 2026, at an average price of $135.13 for a total value of about $4.1 million. Earlier in the year, CEO Ramon L. Laguarta sold 27,945 shares in March, while General Counsel David James Flavell sold 2,900 shares in July.

Analysts Set New Price Targets

Wall Street firms updated their outlooks on the stock in October. Citigroup maintained a neutral rating with a $135 price target on October 9, while JP Morgan kept a neutral rating with a $137 target. BNP Paribas maintained its outperform rating with a $157 target, Piper Sandler kept an overweight rating with a $140 target, and Barclays maintained an equal-weight rating with a $126 target. Overall, the stock carries a consensus hold rating from 22 analysts.

About PepsiCo, Inc.

Headquartered in Purchase, New York, PepsiCo manufactures, markets, and distributes a wide range of convenient foods and beverages worldwide. Its operations span major brands in convenient snacks and non-alcoholic drinks across North America and international markets, supported by a workforce of over 300,000 employees.

Bottom Line

Mondrian Investment Partners's reduction in PepsiCo highlights shifting institutional positioning as the stock trades closer to its 52-week lows. Investors will watch the company's upcoming earnings release in February 2027 for further insights into operational performance and margin trends.