Renaissance Investment Group LLC Sells 242 Shares of PepsiCo, Inc. $PEP

Renaissance Investment Group LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,933 shares of the company’s stock after selling 242 shares during the quarter. Renaissance Investment Group LLC’s holdings in PepsiCo were worth $1,180,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in PepsiCo during the first quarter worth $946,978,000. GAMMA Investing LLC boosted its stake in shares of PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock worth $688,017,000 after buying an additional 4,564,723 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of PepsiCo by 106.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock valued at $527,034,000 after acquiring an additional 1,809,391 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PepsiCo by 1.4% in the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after acquiring an additional 1,802,748 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in PepsiCo during the fourth quarter worth about $221,297,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PEP shares. Bank of America lowered their price target on PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, July 11th. Citigroup boosted their target price on shares of PepsiCo from $160.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Morgan Stanley increased their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $146.00 target price on shares of PepsiCo in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company lifted their price target on PepsiCo from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $158.67.

PepsiCo Stock Performance

Shares of PEP stock opened at $140.64 on Tuesday. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.43. The company has a market capitalization of $192.55 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 3.63 and a beta of 0.46. The company has a 50-day simple moving average of $143.93 and a 200 day simple moving average of $140.35. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same period last year, the business posted $2.28 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

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

PepsiCo Profile

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.