Meyer Handelman Co. Sells 3,765 Shares of PepsiCo, Inc. $PEP

Meyer Handelman Co. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 237,529 shares of the company’s stock after selling 3,765 shares during the quarter. PepsiCo makes up about 1.0% of Meyer Handelman Co.’s investment portfolio, making the stock its 29th largest position. Meyer Handelman Co.’s holdings in PepsiCo were worth $31,363,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in PepsiCo during the 1st quarter valued at about $946,978,000. GAMMA Investing LLC boosted its holdings in PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock valued at $688,017,000 after acquiring an additional 4,564,723 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in PepsiCo during the 2nd quarter valued at about $460,110,000. Assenagon Asset Management S.A. boosted its holdings in PepsiCo by 106.1% during 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 during the period. Finally, Vanguard Group Inc. boosted its holdings in 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. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group dropped their target price on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Royal Bank Of Canada dropped their target price on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a report on Monday, September 15th. Citigroup dropped their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Cowen reiterated a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $158.13.

PepsiCo Trading Down 1.6%

PEP opened at $139.92 on Friday. The stock has a market cap of $191.56 billion, a PE ratio of 25.49, a PEG ratio of 3.59 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. The business has a 50 day moving average of $144.68 and a 200-day moving average of $139.79. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50.

PepsiCo (NASDAQ:PEP) last released its 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. The company had revenue of $22.73 billion during the quarter, compared to analysts’ expectations of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, September 5th. PepsiCo’s dividend payout ratio (DPR) is presently 103.64%.

PepsiCo Company 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.