Angeles Wealth Management LLC Sells 2,056 Shares of PepsiCo, Inc. $PEP

Key Points

• Angeles Wealth Management LLC sold 2,056 shares of PepsiCo, Inc., reducing its holdings by 13.9% to a total of 12,685 shares valued at $1,675,000.
• PepsiCo reported earnings per share of $2.29, exceeding analysts' expectations, and its revenue was up 2.7% compared to the previous year.
• The company announced a quarterly dividend of $1.4225 per share, representing a yield of 3.7% and a payout ratio of 108.17%.

Angeles Wealth Management LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,685 shares of the company's stock after selling 2,056 shares during the quarter. Angeles Wealth Management LLC's holdings in PepsiCo were worth $1,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Claris Advisors LLC MO lifted its holdings in PepsiCo by 14.1% in the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company's stock valued at $329,000 after buying an additional 308 shares during the period. Foster Group Inc. lifted its holdings in PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company's stock valued at $683,000 after buying an additional 229 shares during the period. Asset Management One Co. Ltd. lifted its holdings in PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after buying an additional 21,859 shares during the period. Ignite Planners LLC lifted its holdings in PepsiCo by 4.2% in the first quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after buying an additional 151 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in PepsiCo by 46.4% in the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company's stock valued at $15,098,000 after buying an additional 36,239 shares during the period. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Trading Up 1.0%

PEP opened at $152.67 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $177.50. The firm has a market capitalization of $208.75 billion, a PE ratio of 29.02, a P/E/G ratio of 3.68 and a beta of 0.46. The company's 50-day moving average is $145.34 and its 200 day moving average is $139.37.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Friday, September 5th. PepsiCo's dividend payout ratio is presently 108.17%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PEP. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $157.00 to $151.00 and set a "neutral" rating on the stock in a report on Monday, October 6th. The Goldman Sachs Group upped their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the company a "buy" rating in a report on Friday, October 10th. Jefferies Financial Group upped their price objective on shares of PepsiCo from $161.00 to $163.00 and gave the company a "hold" rating in a report on Friday, October 10th. Bank of America upped their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, October 10th. Finally, Citigroup dropped their price objective on shares of PepsiCo from $168.00 to $165.00 and set a "buy" rating on the stock in a report on Thursday, September 25th. Six 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $156.00.

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.

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