RNC Capital Management LLC Has $42.61 Million Position in PepsiCo, Inc. $PEP

RNC Capital Management LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 322,693 shares of the company’s stock after buying an additional 47,082 shares during the period. PepsiCo accounts for about 2.1% of RNC Capital Management LLC’s portfolio, making the stock its 20th largest holding. RNC Capital Management LLC’s holdings in PepsiCo were worth $42,608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. Claris Advisors LLC MO increased its stake in shares of PepsiCo by 14.1% during the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after purchasing an additional 308 shares during the last quarter. Foster Group Inc. boosted its holdings in shares of PepsiCo by 4.6% during the 2nd quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock worth $683,000 after buying an additional 229 shares during the period. Ignite Planners LLC boosted its holdings in shares of PepsiCo by 4.2% during the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock worth $566,000 after buying an additional 151 shares during the period. Merit Financial Group LLC boosted its holdings in shares of PepsiCo by 46.4% during the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock worth $15,098,000 after buying an additional 36,239 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in shares of PepsiCo by 2.5% during the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after buying an additional 620 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $153.03 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $209.24 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 3.73 and a beta of 0.46. The firm’s 50 day simple moving average is $145.89 and its 200 day simple moving average is $139.49. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $174.00.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. HSBC lifted their target price on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. UBS Group cut their price objective on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Morgan Stanley boosted their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Citigroup cut their price objective on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Finally, Barclays boosted their price objective on shares of PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $156.58.

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.