Canoe Financial LP Has $13.08 Million Stake in PepsiCo, Inc. $PEP

Canoe Financial LP trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,040 shares of the company’s stock after selling 7,400 shares during the quarter. Canoe Financial LP’s holdings in PepsiCo were worth $13,077,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PEP. Nuveen LLC acquired a new position in shares of PepsiCo in the first quarter valued at $946,978,000. GAMMA Investing LLC raised its stake in PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock worth $688,017,000 after acquiring an additional 4,564,723 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in PepsiCo by 106.1% during the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock worth $527,034,000 after acquiring an additional 1,809,391 shares in the last quarter. Vanguard Group Inc. raised its stake in PepsiCo by 1.4% during the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after acquiring an additional 1,802,748 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in PepsiCo during the fourth quarter worth $221,297,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on PEP shares. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, July 10th. Cowen reiterated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Wells Fargo & Company increased their price objective on PepsiCo from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Morgan Stanley increased their price objective on PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Finally, Bank of America dropped their price objective on PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $158.60.

PepsiCo Price Performance

Shares of PEP stock opened at $140.73 on Friday. The stock’s fifty day moving average is $144.26 and its 200-day moving average is $140.25. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The stock has a market capitalization of $192.67 billion, a PE ratio of 25.63, a PEG ratio of 3.57 and a beta of 0.46. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion for the quarter, compared to analysts’ expectations of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 4.0%. PepsiCo’s dividend payout ratio (DPR) is currently 103.64%.

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.