PepsiCo, Inc. $PEP Shares Sold by Canopy Partners LLC

Canopy Partners LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.4% in the second quarter, Holdings Channel reports. The firm owned 6,271 shares of the company’s stock after selling 431 shares during the period. Canopy Partners LLC’s holdings in PepsiCo were worth $828,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nova Wealth Management Inc. purchased a new position in PepsiCo during the 1st quarter valued at about $25,000. Elite Financial Inc. purchased a new position in PepsiCo during the 1st quarter valued at about $28,000. Legend Financial Advisors Inc. purchased a new position in PepsiCo during the 2nd quarter valued at about $29,000. RMG Wealth Management LLC purchased a new position in PepsiCo during the 2nd quarter valued at about $45,000. Finally, Investment Research & Advisory Group Inc. boosted its holdings in PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after acquiring an additional 232 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $140.79 on Wednesday. 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, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $177.50. The firm has a market capitalization of $192.75 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 3.53 and a beta of 0.46. The stock’s 50-day simple moving average is $144.26 and its 200-day simple moving average is $139.31.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results 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 analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, equities research analysts forecast 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 was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were issued a $1.4225 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.0%. PepsiCo’s payout ratio is presently 103.64%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PEP shares. JPMorgan Chase & Co. lowered their target price on PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a report on Monday. Cowen reiterated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Morgan Stanley lifted their price objective on PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Bank of America decreased their price objective on PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of PepsiCo in a research note on Saturday, September 27th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $158.13.

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.