Addenda Capital Inc. Buys 12,673 Shares of PepsiCo, Inc. $PEP

Key Points

• Addenda Capital Inc. increased its stake in PepsiCo, Inc. by 15.0% during the 2nd quarter, owning a total of 97,215 shares worth approximately $12.8 million.
• PepsiCo recently reported quarterly earnings of $2.12 EPS, surpassing analyst expectations and showing 1.0% revenue growth year-over-year.
• The company announced a quarterly dividend of $1.4225 per share, resulting in a 4.1% dividend yield and a payout ratio of 103.64%.

Addenda Capital Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 15.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,215 shares of the company's stock after purchasing an additional 12,673 shares during the period. Addenda Capital Inc.'s holdings in PepsiCo were worth $12,836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Legacy Financial Group LLC increased its position in PepsiCo by 4.9% during the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock valued at $227,000 after acquiring an additional 71 shares during the last quarter. Centurion Wealth Management LLC increased its holdings in PepsiCo by 3.8% during the second quarter. Centurion Wealth Management LLC now owns 2,068 shares of the company's stock valued at $273,000 after buying an additional 75 shares during the last quarter. SK Wealth Management LLC increased its holdings in PepsiCo by 3.3% during the second quarter. SK Wealth Management LLC now owns 2,375 shares of the company's stock valued at $319,000 after buying an additional 75 shares during the last quarter. Pflug Koory LLC increased its holdings in PepsiCo by 1.0% during the first quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock valued at $1,162,000 after buying an additional 76 shares during the last quarter. Finally, Hoge Financial Services LLC boosted its position in shares of PepsiCo by 2.1% in the first quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock worth $545,000 after purchasing an additional 76 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PEP has been the subject of several research analyst reports. Citigroup cut their target price on shares of PepsiCo from $168.00 to $165.00 and set a "buy" rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Bank of America lowered their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Morgan Stanley increased their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Finally, UBS Group lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $158.13.

PepsiCo Stock Up 0.4%

Shares of PepsiCo stock opened at $140.44 on Friday. The company has a market cap of $192.27 billion, a P/E ratio of 25.58, a PEG ratio of 3.54 and a beta of 0.46. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $177.50. 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 50 day moving average price is $144.63 and its 200-day moving average price is $139.65.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same period in the previous year, the business posted $2.28 EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.1%. PepsiCo's dividend payout ratio is currently 103.64%.

PepsiCo Company 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.