Adams Asset Advisors LLC Decreases Stock Position in PepsiCo, Inc. $PEP

Key Points

• Adams Asset Advisors LLC reduced its stake in PepsiCo by 16.6%, now holding 28,554 shares valued at $3.77 million.
• PepsiCo recently reported a quarterly earnings per share of $2.12, exceeding estimates of $2.03, with revenues of $22.73 billion.
• The company's quarterly dividend was set at $1.4225 per share, representing an annualized yield of 4.0%.

Adams Asset Advisors LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 16.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,554 shares of the company's stock after selling 5,690 shares during the period. Adams Asset Advisors LLC's holdings in PepsiCo were worth $3,770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional 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 stake 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 purchasing an additional 4,564,723 shares during the period. Assenagon Asset Management S.A. increased its stake in PepsiCo by 106.1% in the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after purchasing an additional 1,809,391 shares during the period. Vanguard Group Inc. increased its stake in PepsiCo by 1.4% in the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in PepsiCo in the fourth quarter worth $221,297,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PEP. Bank of America reduced their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Royal Bank Of Canada reissued a "sector perform" rating and set a $146.00 price target on shares of PepsiCo in a research report on Wednesday, September 3rd. UBS Group dropped their price target on PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday. Citigroup increased their price target on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Morgan Stanley increased their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $158.67.

PepsiCo Price Performance

Shares of PEP stock opened at $143.53 on Monday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $179.43. The stock's 50-day moving average is $143.81 and its 200 day moving average is $140.44. The company has a market cap of $196.50 billion, a P/E ratio of 26.14, a PEG ratio of 3.63 and a beta of 0.46. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter last year, the company earned $2.28 earnings per share. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 4.0%. PepsiCo's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.