Cortland Associates Inc. MO Sells 545 Shares of PepsiCo, Inc. $PEP

Cortland Associates Inc. MO cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 24.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,640 shares of the company’s stock after selling 545 shares during the period. Cortland Associates Inc. MO’s holdings in PepsiCo were worth $217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nova Wealth Management Inc. purchased a new stake in PepsiCo during the first quarter valued at approximately $25,000. Elite Financial Inc. purchased a new stake in PepsiCo during the first quarter valued at approximately $28,000. Legend Financial Advisors Inc. purchased a new stake in PepsiCo during the second quarter valued at approximately $29,000. RMG Wealth Management LLC purchased a new stake in PepsiCo during the second quarter valued at approximately $45,000. Finally, Investment Research & Advisory Group Inc. raised its position in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.8%

PEP opened at $140.79 on Wednesday. The stock’s fifty day moving average is $144.26 and its two-hundred day moving average is $139.31. The company has a market capitalization of $192.75 billion, a P/E ratio of 25.64, a PEG ratio of 3.53 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 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 released its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The company 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 period last year, the business posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, September 5th. PepsiCo’s dividend payout ratio (DPR) is 103.64%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PEP. Morgan Stanley increased their price target on PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. BNP Paribas Exane reduced their price target on PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday. Barclays reiterated a “cautious” rating on shares of PepsiCo in a report on Friday. Wells Fargo & Company reduced their price target on PepsiCo from $154.00 to $150.00 and set an “equal weight” rating on the stock in a report on Thursday, September 25th. Finally, Citigroup reduced their price target on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $158.13.

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.