Summit Global Investments Sells 15,526 Shares of PepsiCo, Inc. $PEP

Summit Global Investments cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 20.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,710 shares of the company’s stock after selling 15,526 shares during the quarter. PepsiCo accounts for about 0.6% of Summit Global Investments’ investment portfolio, making the stock its 21st largest holding. Summit Global Investments’ holdings in PepsiCo were worth $9,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Swiss Life Asset Management Ltd raised its stake in PepsiCo by 11.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 415,271 shares of the company’s stock worth $59,600,000 after buying an additional 42,335 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. boosted its position in PepsiCo by 622.3% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 35,603 shares of the company’s stock valued at $5,110,000 after acquiring an additional 30,674 shares in the last quarter. Allstate Corp grew its holdings in shares of PepsiCo by 108.1% during the 4th quarter. Allstate Corp now owns 104,723 shares of the company’s stock worth $15,030,000 after acquiring an additional 54,405 shares during the period. National Pension Service raised its position in shares of PepsiCo by 2.5% in the 4th quarter. National Pension Service now owns 3,143,939 shares of the company’s stock worth $451,218,000 after acquiring an additional 77,051 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its stake in shares of PepsiCo by 90.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 94,652 shares of the company’s stock valued at $13,584,000 after purchasing an additional 44,824 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PEP. Wells Fargo & Company dropped their price target on PepsiCo from $150.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a report on Monday, July 6th. Morgan Stanley dropped their target price on shares of PepsiCo from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Sanford C. Bernstein set a $134.00 target price on shares of PepsiCo in a research report on Friday, July 10th. Finally, Evercore set a $150.00 price target on shares of PepsiCo in a research note on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $157.70.

PepsiCo Stock Performance

PepsiCo stock opened at $135.46 on Tuesday. PepsiCo, Inc. has a twelve month low of $133.95 and a twelve month high of $171.48. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $184.89 billion, a P/E ratio of 17.75, a PEG ratio of 3.01 and a beta of 0.36. The stock’s 50 day moving average is $143.25 and its 200 day moving average is $151.20.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 9th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.01. PepsiCo had a return on equity of 54.63% and a net margin of 10.78%.The business had revenue of $24.18 billion during the quarter, compared to analysts’ expectations of $23.95 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. On average, equities research analysts predict that PepsiCo, Inc. will post 8.58 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, September 4th. PepsiCo’s payout ratio is currently 77.59%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.