First City Capital Management Inc. Has $917,000 Stake in PepsiCo, Inc. $PEP

First City Capital Management Inc. grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 11.3% during the second quarter, HoldingsChannel reports. The firm owned 6,943 shares of the company’s stock after buying an additional 703 shares during the period. First City Capital Management Inc.’s holdings in PepsiCo were worth $917,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new stake in shares of PepsiCo during the 1st quarter valued at about $946,978,000. GAMMA Investing LLC lifted its stake in PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock valued at $688,017,000 after buying an additional 4,564,723 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of PepsiCo during the 2nd quarter worth approximately $460,110,000. Assenagon Asset Management S.A. grew its position in shares of PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock worth $527,034,000 after buying an additional 1,809,391 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of PepsiCo by 1.4% during the 1st 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 period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PEP shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, July 10th. Cowen reaffirmed a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Citigroup increased their price target on PepsiCo from $160.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada decreased their price objective on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $158.60.

PepsiCo Stock Up 0.2%

PEP stock opened at $142.17 on Thursday. The firm has a market capitalization of $194.64 billion, a PE ratio of 25.90, a P/E/G ratio of 3.58 and a beta of 0.46. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $177.50. The stock’s 50 day moving average is $144.79 and its 200-day moving average is $139.90.

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

PepsiCo Announces Dividend

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

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.