PepsiCo, Inc. $PEP Shares Sold by Leavell Investment Management Inc.

Leavell Investment Management Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.2% in the second quarter, Holdings Channel reports. The fund owned 24,057 shares of the company’s stock after selling 2,728 shares during the period. Leavell Investment Management Inc.’s holdings in PepsiCo were worth $3,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Nova Wealth Management Inc. acquired a new position in PepsiCo in the 1st quarter valued at about $25,000. Elite Financial Inc. purchased a new stake in shares of PepsiCo during the 1st quarter valued at approximately $28,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo in the second quarter valued at approximately $29,000. Frazier Financial Advisors LLC grew its position in PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after acquiring an additional 122 shares during the period. Finally, RMG Wealth Management LLC acquired a new stake in PepsiCo during the second quarter worth $45,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PEP. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of PepsiCo in a research note on Thursday, July 17th. Royal Bank Of Canada decreased their target price on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Monday, September 15th. Jefferies Financial Group lifted their price target on shares of PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Bank of America upped their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Evercore ISI increased their price objective on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average target price of $156.95.

PepsiCo Stock Up 0.0%

Shares of PEP opened at $151.55 on Friday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock has a market capitalization of $207.22 billion, a PE ratio of 28.81, a P/E/G ratio of 3.69 and a beta of 0.46. The company’s 50-day simple moving average is $145.97 and its 200-day simple moving average is $139.62. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $174.00.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share 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 57.58%. The firm had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. During the same period in the prior year, the firm earned $2.31 EPS. The firm’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. Analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo 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.