Bangor Savings Bank Sells 358 Shares of PepsiCo, Inc. $PEP

Bangor Savings Bank reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the 2nd quarter, Holdings Channel reports. The firm owned 23,375 shares of the company’s stock after selling 358 shares during the period. Bangor Savings Bank’s holdings in PepsiCo were worth $3,086,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nova Wealth Management Inc. bought a new position in shares of PepsiCo in the 1st quarter worth $25,000. Elite Financial Inc. bought a new position in PepsiCo during the first quarter worth about $28,000. Sunbeam Capital Management LLC bought a new position in PepsiCo during the fourth quarter worth about $47,000. MorganRosel Wealth Management LLC bought a new position in PepsiCo during the first quarter worth about $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in PepsiCo during the first quarter worth about $58,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

NASDAQ:PEP opened at $143.53 on Friday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The stock’s 50-day simple moving average is $143.81 and its 200 day simple moving average is $140.52. The company has a market cap of $196.50 billion, a P/E ratio of 26.14, a P/E/G ratio of 3.65 and a beta of 0.46. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $179.43.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.09. The business had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.PepsiCo’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.0%. PepsiCo’s payout ratio is currently 103.64%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PEP. Cowen reiterated a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Citigroup lifted their target price on PepsiCo from $160.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, July 18th. UBS Group cut their price target on PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Wells Fargo & Company boosted their price target on PepsiCo from $140.00 to $154.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $158.67.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.