1832 Asset Management L.P. Sells 14,094 Shares of PepsiCo, Inc. $PEP

Key Points

• 1832 Asset Management L.P. reduced its stake in PepsiCo by 16.5%, selling 14,094 shares and now holding 71,244 shares valued at approximately $10.68 million.
• Research firms have mixed views on PepsiCo, with Citigroup raising its target price to $168 and Dbs Bank downgrading it to a "hold" rating; overall, analysts have assigned an average rating of "Hold" with a consensus price target of $158.73.
• PepsiCo announced a quarterly dividend of $1.4225 per share, reflecting a dividend yield of 3.8%, while its payout ratio stands at 103.64%.

1832 Asset Management L.P. reduced its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 16.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,244 shares of the company's stock after selling 14,094 shares during the quarter. 1832 Asset Management L.P.'s holdings in PepsiCo were worth $10,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Cowen reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Barclays lifted their price objective on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. 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. 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. Finally, Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Four 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $158.73.

PepsiCo Trading Down 0.8%

Shares of NASDAQ PEP traded down $1.20 during midday trading on Tuesday, reaching $147.00. The company had a trading volume of 11,207,315 shares, compared to its average volume of 7,658,064. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $179.73. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The firm's fifty day moving average price is $140.01 and its 200-day moving average price is $140.66. The stock has a market cap of $201.25 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.95 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The company had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the previous year, the company posted $2.28 EPS. PepsiCo's revenue for the quarter was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo's dividend payout ratio is presently 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.