Bleakley Financial Group LLC Decreases Position in PepsiCo, Inc. $PEP

Bleakley Financial Group LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,854 shares of the company’s stock after selling 2,390 shares during the quarter. Bleakley Financial Group LLC’s holdings in PepsiCo were worth $4,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of PepsiCo by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after purchasing an additional 1,802,748 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock valued at $3,969,698,000 after purchasing an additional 1,258,198 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of PepsiCo by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company’s stock worth $2,108,585,000 after buying an additional 49,699 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of PepsiCo by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock worth $1,728,180,000 after buying an additional 208,292 shares during the period. Finally, Invesco Ltd. increased its position in shares of PepsiCo by 4.5% in the 1st quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock valued at $1,698,544,000 after acquiring an additional 491,894 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEP. Morgan Stanley raised their price objective on PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Jefferies Financial Group lifted their price target on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Finally, Royal Bank Of Canada decreased their target price on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Monday, September 15th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $156.95.

PepsiCo Stock Down 1.0%

Shares of NASDAQ:PEP opened at $151.51 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $174.00. The business has a fifty day moving average of $145.95 and a two-hundred day moving average of $139.54. The stock has a market cap of $207.17 billion, a P/E ratio of 28.80, a PEG ratio of 3.72 and a beta of 0.46.

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

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.