Cross Staff Investments Inc Cuts Holdings in PepsiCo, Inc. $PEP

Cross Staff Investments Inc lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,980 shares of the company’s stock after selling 100 shares during the period. Cross Staff Investments Inc’s holdings in PepsiCo were worth $922,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PEP. Brighton Jones LLC lifted its holdings in shares of PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after acquiring an additional 6,574 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of PepsiCo by 28.1% in the 1st quarter. GAMMA Investing LLC now owns 30,603 shares of the company’s stock worth $4,589,000 after acquiring an additional 6,712 shares during the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of PepsiCo by 41.8% in the 1st quarter. Simon Quick Advisors LLC now owns 8,512 shares of the company’s stock worth $1,276,000 after acquiring an additional 2,508 shares during the last quarter. Ballew Advisors Inc bought a new stake in shares of PepsiCo in the 1st quarter worth approximately $857,000. Finally, Rockland Trust Co. lifted its holdings in shares of PepsiCo by 9.2% in the 1st quarter. Rockland Trust Co. now owns 310,790 shares of the company’s stock worth $46,600,000 after acquiring an additional 26,173 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PEP shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Cowen reiterated a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Evercore ISI upped their price target on shares of PepsiCo from $150.00 to $152.00 in a report on Friday. Bank of America lowered their price target on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, July 11th. Finally, Jefferies Financial Group upped their price target on shares of PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a report on Friday. Five analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $158.25.

PepsiCo Stock Up 3.7%

Shares of NASDAQ PEP opened at $150.08 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $177.50. The firm has a market capitalization of $205.47 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 3.62 and a beta of 0.46. The firm has a fifty day simple moving average of $144.53 and a two-hundred day simple moving average of $139.32.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, October 9th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 58.46%. The business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same period in the prior year, the business earned $2.31 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were issued a $1.4225 dividend. The ex-dividend date was Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 3.8%. PepsiCo’s dividend payout ratio is 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.