PepsiCo, Inc. $PEP Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 43.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,795 shares of the company’s stock after selling 59,401 shares during the quarter. Carnegie Investment Counsel’s holdings in PepsiCo were worth $10,404,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. JSF Financial LLC lifted its position in shares of PepsiCo by 3.8% during the 2nd quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock valued at $250,000 after acquiring an additional 69 shares during the period. Dogwood Wealth Management LLC lifted its position in shares of PepsiCo by 15.4% during the 2nd quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock valued at $73,000 after acquiring an additional 72 shares during the period. Joel Isaacson & Co. LLC lifted its position in shares of PepsiCo by 0.5% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 16,507 shares of the company’s stock valued at $2,180,000 after acquiring an additional 74 shares during the period. Bull Street Advisors LLC lifted its position in shares of PepsiCo by 0.4% during the 2nd quarter. Bull Street Advisors LLC now owns 19,902 shares of the company’s stock valued at $2,628,000 after acquiring an additional 74 shares during the period. Finally, Centurion Wealth Management LLC lifted its position in shares of PepsiCo by 3.8% during the 2nd quarter. Centurion Wealth Management LLC now owns 2,068 shares of the company’s stock valued at $273,000 after acquiring an additional 75 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Royal Bank Of Canada lowered their price objective on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a report on Monday, September 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Finally, Loop Capital set a $164.00 price objective on shares of PepsiCo in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Performance

Shares of PEP stock opened at $151.55 on Friday. The firm has a 50-day moving average of $145.97 and a 200-day moving average of $139.62. The company has a market cap of $207.22 billion, a P/E ratio of 28.81, a P/E/G ratio of 3.69 and a beta of 0.46. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $174.00.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal 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.