Lockheed Martin Investment Management Co. Sells 5,060 Shares of PepsiCo, Inc. $PEP

Lockheed Martin Investment Management Co. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.4% in the second quarter, HoldingsChannel reports. The firm owned 73,760 shares of the company’s stock after selling 5,060 shares during the period. Lockheed Martin Investment Management Co.’s holdings in PepsiCo were worth $9,739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Brighton Jones LLC increased its holdings in PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after purchasing an additional 6,574 shares during the last quarter. O Brien Wealth Partners LLC lifted its holdings in PepsiCo by 56.4% during the first quarter. O Brien Wealth Partners LLC now owns 652 shares of the company’s stock worth $98,000 after acquiring an additional 235 shares in the last quarter. Novem Group lifted its holdings in PepsiCo by 5.1% during the first quarter. Novem Group now owns 22,527 shares of the company’s stock worth $3,378,000 after acquiring an additional 1,086 shares in the last quarter. Revisor Wealth Management LLC lifted its holdings in PepsiCo by 136.9% during the first quarter. Revisor Wealth Management LLC now owns 3,238 shares of the company’s stock worth $486,000 after acquiring an additional 1,871 shares in the last quarter. Finally, Latitude Advisors LLC lifted its holdings in PepsiCo by 35.2% during the first quarter. Latitude Advisors LLC now owns 3,127 shares of the company’s stock worth $469,000 after acquiring an additional 814 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.0%

PEP stock opened at $147.55 on Friday. 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 business has a 50-day moving average of $145.87 and a 200-day moving average of $139.73. The stock has a market capitalization of $201.75 billion, a P/E ratio of 28.05, a P/E/G ratio of 3.56 and a beta of 0.46. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $167.96.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PEP shares. JPMorgan Chase & Co. reduced their target price on PepsiCo from $157.00 to $151.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a report on Tuesday, October 21st. UBS Group reduced their target price on PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. HSBC lifted their price target on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Finally, Cowen reaffirmed a “hold” rating on shares of PepsiCo in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.