Pinnacle Wealth Management Advisory Group 13F: Cuts PEP Stake by $694K

Pinnacle Wealth Management Advisory Group lowered its stake in PepsiCo, Inc. PEP by 5,478 shares during the third quarter, according to a Form 13F filed with the SEC on October 23, 2026. The fund owned 35,737 shares previously and finished the period with 30,259 shares. That adjustment represented a 15.3% decrease in its holdings, leaving a remaining position valued at $3,834,362.

PEP PepsiCo, Inc.

$134.98 ▼ -2.21% year to date

1M 3M YTD

Daily close · Oct 23, 2026

What Changed in Pinnacle Wealth Management Advisory Group's PepsiCo Position

The fund cut its exposure to the beverage maker during the quarter by offloading roughly one-seventh of its total shares. The remaining investment of 30,259 shares reflects a smaller footprint in the consumer defensive company as institutional managers adjust their portfolios.

Other Institutional Activity in PepsiCo

Other large investors also made adjustments to their PepsiCo positions during the filing period. Bell Bank grew its holdings by 15,858 shares, ending with 83,997 shares worth about $10,644,100. Mondrian Investment Partners reduced its holdings by 260,682 shares, finishing with 286,077 shares valued at $36,251,677. Campbell Newman Asset Management trimmed its stake by 7,586 shares to hold 178,157 shares worth approximately $22,576,055. Howland Capital Management cut its position by 8,304 shares, leaving 26,188 shares valued at $3,318,544. Finally, Orgel Wealth Management exited its position entirely by selling its remaining 1,500 shares.

PepsiCo, Inc. Stock Up 0.8%

PepsiCo shares closed at $135.77 on the October 23 filing date, sitting slightly above its 50-day moving average of $134.21. The stock recently traded at $135.77 as of October 24, placing it about 7.1% below its 200-day moving average of $146.18. Over the past year, the equity has moved between a low of $123.47 and a high of $171.48.

Recent Earnings

For its trailing twelve months, PepsiCo generated $98.24 billion in revenue with a net profit margin of 11.1%. The company reported earnings of $7.95 per share alongside a return on equity of 52.2%. The firm's next earnings report is scheduled for February 2, 2027.

Dividend

The company pays an annual dividend of $5.92 per share, which translates to a dividend yield of 4.26% based on current trading levels. That payout is supported by a dividend payout ratio of 73.0%.

Insider Buying and Selling at PepsiCo, Inc.

Company insiders have completed several transactions in recent months. On March 4, 2026, officer Eugene Willemsen sold 6,500 shares for a total value of $1,068,923. General Counsel David James Flavell sold 2,900 shares on July 27, 2026, at an average price of $139.54 for a total of $404,674. Later, director Robert C. Pohlad bought 184,646 shares on October 14, 2026, at an average price of $128.28 for a total of $23,686,388.88. Chairman and CEO Ramon Laguarta sold 30,000 shares on October 21, 2026, at an average price of $135.13 for a total of $4,053,891.

Analysts Set New Price Targets

Wall Street firms have updated their outlooks on the beverage giant. Citigroup maintained a neutral rating on October 9, 2026, while lowering its price target from $142.00 to $135.00. JP Morgan kept a neutral rating on October 9, 2026, while moving its target from $138.00 to $137.00. BNP Paribas maintained an outperform rating on October 9, 2026, lowering its target from $161.00 to $157.00. Piper Sandler maintained an overweight rating on October 9, 2026, trimming its target from $176.00 to $140.00. Barclays kept an equal-weight rating on October 12, 2026, adjusting its target from $133.00 to $126.00. Overall, analysts give the stock a consensus hold rating with a mean price target of $141.59 based on 22 analyst opinions.

About PepsiCo

PepsiCo, Inc. operates in the consumer goods sector, manufacturing and selling a wide variety of beverages and convenient foods globally. Its portfolio includes well-known snack and drink brands distributed across North America and international markets. Institutional moves like Pinnacle's filing offer insight into how large portfolios manage exposure to major consumer staples stocks.

Bottom Line

Investors tracking PepsiCo will monitor upcoming financial reports and institutional filing updates for further shifts in ownership. The next major milestone for the company will arrive with its earnings release on February 2, 2027.