PepsiCo, Inc. $PEP Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 21.5% in the second quarter, HoldingsChannel reports. The firm owned 24,706 shares of the company’s stock after selling 6,784 shares during the quarter. Essex Financial Services Inc.’s holdings in PepsiCo were worth $3,262,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Magnus Financial Group LLC grew its stake in shares of PepsiCo by 0.7% during the second quarter. Magnus Financial Group LLC now owns 14,566 shares of the company’s stock worth $1,923,000 after purchasing an additional 101 shares in the last quarter. Exeter Financial LLC lifted its stake in PepsiCo by 2.3% during the second quarter. Exeter Financial LLC now owns 32,371 shares of the company’s stock worth $4,274,000 after purchasing an additional 717 shares during the last quarter. Retirement Guys Formula LLC boosted its holdings in PepsiCo by 11.0% in the second quarter. Retirement Guys Formula LLC now owns 7,651 shares of the company’s stock valued at $1,010,000 after purchasing an additional 761 shares in the last quarter. Jeppson Wealth Management LLC increased its stake in PepsiCo by 1.2% in the second quarter. Jeppson Wealth Management LLC now owns 6,850 shares of the company’s stock valued at $904,000 after purchasing an additional 80 shares during the last quarter. Finally, LeConte Wealth Management LLC raised its holdings in PepsiCo by 5.1% during the second quarter. LeConte Wealth Management LLC now owns 1,825 shares of the company’s stock worth $241,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.2%

Shares of NASDAQ PEP opened at $142.17 on Thursday. The stock has a market capitalization of $194.64 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 3.58 and a beta of 0.46. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50. The firm has a 50-day moving average price of $144.79 and a 200 day moving average price of $139.90. 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 (NASDAQ:PEP) last issued 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 company had revenue of $22.73 billion during the quarter, compared to analysts’ expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group cut their price target on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Royal Bank Of Canada decreased their target price on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. JPMorgan Chase & Co. cut their price target on PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Bank of America cut their target price on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, July 11th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $158.60.

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.