PepsiCo (PEP) Stock Buybacks: 22.8% of Shares Retired Since 2001

Name: PepsiCo (PEP) shares outstanding since 1999, split adjusted
Creator: Buyback Radar
License: https://creativecommons.org/licenses/by/4.0/

Shares outstanding, 1999 to todaysplit adjusted, from SEC filings

1999, 1,443,515,7022026-10-01, 1,362,741,092

A share bought in 1999

1.1× more of PepsiCo today, without buying another share. It was one of 1,443,515,702 shares then. It is one of 1,362,741,092 now.

Every filing we read27 fiscal years, split adjusted

Fiscal year	Date	Shares outstanding	Filing
1999	2000-03-10	1,443,515,702	10-K	cover page
2000	2001-03-09	1,449,944,403	10-K	cover page
2001	2002-03-08	1,764,455,280	10-K	cover page
2002	2003-02-22	1,718,625,330	10-K	cover page
2003	2004-02-20	1,710,245,642	10-K	cover page
2004	2005-02-18	1,678,172,035	10-K	cover page
2005	2006-02-17	1,656,763,169	10-K	cover page
2006	2007-02-09	1,637,764,939	10-K	cover page
2007	2008-02-08	1,601,789,456	10-K	cover page
2008	2009-02-12	1,556,291,773	10-K	cover page
2009	2010-02-12	1,569,900,714	10-K
2010	2011-02-11	1,586,503,366	10-K
2011	2012-02-15	1,570,641,730	10-K
2012	2013-02-13	1,542,782,724	10-K
2013	2014-02-06	1,522,465,786	10-K
2014	2015-02-06	1,482,368,514	10-K
2015	2016-02-04	1,445,412,743	10-K
2016	2017-02-07	1,427,214,232	10-K
2017	2018-02-06	1,419,908,267	10-K
2018	2019-02-08	1,404,686,108	10-K
2019	2020-02-06	1,389,544,618	10-K
2020	2021-02-04	1,379,608,641	10-K
2021	2022-02-03	1,383,451,400	10-K
2022	2023-02-02	1,377,251,316	10-K
2023	2024-02-02	1,374,429,271	10-K
2024	2025-01-28	1,371,499,838	10-K
2025	2026-01-23	1,366,649,053	10-K

Source: all 10-K filings of PepsiCo on EDGAR. Download this series as CSV. Licence CC BY 4.0, credit Buyback Radar.

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PepsiCo buybacks, answered

Is PepsiCo buying back its stock?

Only enough to stand still. The share count is roughly flat over the last twelve months, at 1,362,741,092 as of October 1, 2026. Over five years the share count is down 1.4%.

How many shares has PepsiCo bought back?

Net of every new share it issued, PepsiCo has 401.7 million fewer shares than at its 2001 peak. That is 22.8% of the company.

How many shares does PepsiCo have outstanding?

1,362,741,092 shares, as of October 1, 2026, from the cover page of its latest 10-Q. At the 2001 peak it had 1,764,455,280.

What do PepsiCo's buybacks mean for a shareholder?

Each share is a bigger slice of the company. Someone who held PepsiCo stock in 2001 owns 1.3 times as much of the business today without buying another share. Whether that was a good use of cash depends on the price paid.

How does PepsiCo compare with other cannibal stocks?

PepsiCo ranks No. 204 of 251 companies on Buyback Radar by share of the company retired since its peak. Close to it on the list: Lennar (25.3%), Zimmer Biomet (23.1%), Delta Air Lines (22.7%), Skyworks Solutions (22.6%).

Every answer is computed from PepsiCo's own SEC filings and rebuilt every Monday. Latest count: 10-Q on EDGAR.

Superinvestors who own it

Bill NygrenHarris Associates2,015 shares, $273K, Q2 2026

First EagleFirst Eagle Investment Management96,462 shares, $13.1M, Q2 2026

Tom GaynerMarkel Group96,210 shares, $13.0M, Q2 2026

Jensen InvestmentJensen Investment Management79,927 shares, $10.8M, Q2 2026

David KatzMatrix Asset Advisors297,512 shares, $37.7M, Q3 2026

Donald YacktmanYacktman Asset Management2,072,843 shares, $280.7M, Q2 2026

Tom RussoGardner Russo & Quinn9,115 shares, $1.2M, Q2 2026

From the latest 13F filings. All superinvestors.

Insider buying, last 12 months

POHLAD ROBERT CDirector2026-10-14, 184,646 shares at $128.28 $23.7M total

The story

The numbers say what happened. The story says whether it can continue. We cover companies like PepsiCo in depth on Cannibal Stocks.

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