Ascent Group LLC Has $4.77 Million Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• Ascent Group LLC reduced its stake in PepsiCo by 12.1%, holding 31,804 shares worth approximately $4.77 million after selling 4,393 shares in the first quarter.
• PepsiCo's revenue increased 1.0% year-over-year to $22.73 billion, with earnings per share (EPS) reported at $2.12 for the last quarter, surpassing estimates.
• The company announced a quarterly dividend of $1.4225 per share, yielding 3.9%, with a payout ratio of 103.64% as of its latest filings.

Ascent Group LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,804 shares of the company's stock after selling 4,393 shares during the period. Ascent Group LLC's holdings in PepsiCo were worth $4,769,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PEP. 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 valued at $20,268,027,000 after acquiring an additional 1,802,748 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company's stock valued at $3,969,698,000 after acquiring an additional 1,258,198 shares during the period. Bank of New York Mellon Corp boosted its holdings in PepsiCo by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company's stock worth $2,108,585,000 after buying an additional 49,699 shares during the period. Invesco Ltd. raised its position in shares of PepsiCo by 4.5% during the 1st quarter. Invesco Ltd. now owns 11,328,158 shares of the company's stock valued at $1,698,544,000 after buying an additional 491,894 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PepsiCo by 3.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,317,520 shares of the company's stock worth $1,720,942,000 after purchasing an additional 416,537 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PEP shares. Wells Fargo & Company boosted their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Morgan Stanley upped their price target on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Bank of America dropped their target price on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Cowen reaffirmed a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Barclays raised their price target on shares of PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $158.60.

PepsiCo Trading Down 0.3%

PEP stock opened at $146.39 on Monday. 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 business has a fifty day simple moving average of $143.00 and a 200-day simple moving average of $140.81. The company has a market cap of $200.42 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 3.70 and a beta of 0.46. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.43.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping 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 business posted $2.28 EPS. PepsiCo'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, equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

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

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