Arnhold LLC Purchases New Stake in PepsiCo, Inc. $PEP

Key Points

• Arnhold LLC acquired a new stake in PepsiCo by purchasing 23,222 shares valued at approximately $3.06 million in the second quarter of 2023.
• PepsiCo's quarterly earnings report exceeded analyst expectations with an EPS of $2.29, surpassing the consensus estimate of $2.26, along with a revenue of $23.94 billion.
• The company recently declared a quarterly dividend of $1.4225 per share, equating to an annualized dividend yield of 3.7%.

Arnhold LLC purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,222 shares of the company's stock, valued at approximately $3,066,000.

Several other hedge funds also recently added to or reduced their stakes in the business. CapWealth Advisors LLC grew its position in PepsiCo by 1.9% in the second quarter. CapWealth Advisors LLC now owns 113,500 shares of the company's stock worth $14,987,000 after acquiring an additional 2,142 shares during the period. Koshinski Asset Management Inc. grew its position in PepsiCo by 9.7% in the second quarter. Koshinski Asset Management Inc. now owns 24,229 shares of the company's stock worth $3,199,000 after acquiring an additional 2,149 shares during the period. Bell & Brown Wealth Advisors LLC boosted its position in shares of PepsiCo by 1.5% during the second quarter. Bell & Brown Wealth Advisors LLC now owns 19,948 shares of the company's stock worth $2,634,000 after buying an additional 288 shares during the period. Curbstone Financial Management Corp boosted its holdings in PepsiCo by 1.1% in the second quarter. Curbstone Financial Management Corp now owns 23,226 shares of the company's stock valued at $3,067,000 after purchasing an additional 244 shares during the period. Finally, Arista Wealth Management LLC purchased a new position in PepsiCo in the second quarter valued at $464,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PEP. BNP Paribas Exane decreased their target price on PepsiCo from $152.00 to $150.00 and set a "neutral" rating for the company in a report on Monday, October 6th. UBS Group cut their price target on PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Royal Bank Of Canada cut their price target on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research note on Monday, September 15th. Cowen restated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Wells Fargo & Company raised their price target on PepsiCo from $150.00 to $154.00 and gave the company a "positive" rating in a research note on Friday, October 10th. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given 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 $156.00.

PepsiCo Price Performance

Shares of PEP stock opened at $153.71 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. The company has a market capitalization of $210.17 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.71 and a beta of 0.46. The company's 50-day simple moving average is $145.51 and its two-hundred day simple moving average is $139.40. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $177.50.

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

PepsiCo Dividend Announcement

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

About PepsiCo

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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