PepsiCo, Inc. $PEP Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.1% in the second quarter, HoldingsChannel.com reports. The firm owned 2,070 shares of the company’s stock after selling 134 shares during the quarter. Convergence Investment Partners LLC’s holdings in PepsiCo were worth $273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEP. Nova Wealth Management Inc. acquired a new stake in PepsiCo in the 1st quarter valued at about $25,000. Elite Financial Inc. bought a new stake in shares of PepsiCo in the 1st quarter worth approximately $28,000. Legend Financial Advisors Inc. bought a new stake in shares of PepsiCo in the 2nd quarter worth approximately $29,000. Frazier Financial Advisors LLC boosted its holdings in PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after buying an additional 122 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. boosted its holdings in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after buying an additional 232 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.7%

NASDAQ:PEP opened at $152.63 on Tuesday. The stock has a market cap of $208.70 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 3.69 and a beta of 0.46. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $172.98. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The stock’s 50-day moving average is $146.03 and its two-hundred day moving average is $139.62.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, topping 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 firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Loop Capital set a $164.00 price target on PepsiCo in a research report on Thursday. Bank of America boosted their price objective on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Piper Sandler upped their price objective on shares of PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Finally, UBS Group dropped their target price on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $156.95.

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.