Keybank National Association OH Sells 27,287 Shares of PepsiCo, Inc. $PEP

Keybank National Association OH reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 934,416 shares of the company’s stock after selling 27,287 shares during the quarter. Keybank National Association OH owned about 0.07% of PepsiCo worth $123,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. JSF Financial LLC boosted its position in shares of PepsiCo by 3.8% in the 2nd quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock worth $250,000 after purchasing an additional 69 shares in the last quarter. Dogwood Wealth Management LLC lifted its position in PepsiCo by 15.4% in 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 in the last quarter. Joel Isaacson & Co. LLC lifted its position in PepsiCo by 0.5% in 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 in the last quarter. Bull Street Advisors LLC lifted its position in PepsiCo by 0.4% in 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 in the last quarter. Finally, Guardian Wealth Advisors LLC lifted its position in PepsiCo by 1.6% in the 2nd quarter. Guardian Wealth Advisors LLC now owns 4,562 shares of the company’s stock valued at $602,000 after acquiring an additional 74 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PEP. Piper Sandler upped their price objective on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Citigroup lowered their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. BNP Paribas Exane lowered their price objective on PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Rothschild & Co Redburn upped their price objective on PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. lowered their price objective on PepsiCo from $157.00 to $151.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $156.95.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $146.16 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $199.85 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. The firm’s 50 day moving average price is $145.90 and its 200-day moving average price is $139.68. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $167.96.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates 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 revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

About PepsiCo

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.