Bank of America Corp DE Invests $2.76 Billion in PepsiCo, Inc. $PEP

Bank of America Corp DE bought a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,350,877 shares of the company's stock, valued at approximately $2,755,509,000. Bank of America Corp DE owned about 1.49% of PepsiCo as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of PEP. BlackRock Inc. raised its stake in PepsiCo by 2.1% in the second quarter. BlackRock Inc. now owns 118,281,854 shares of the company's stock valued at $16,015,363,000 after buying an additional 2,440,377 shares during the period. Auto Owners Insurance Co increased its holdings in shares of PepsiCo by 14,857.8% during the 4th quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company's stock worth $7,068,777,000 after acquiring an additional 48,923,629 shares during the last quarter. Geode Capital Management LLC raised its stake in PepsiCo by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company's stock valued at $4,814,835,000 after acquiring an additional 360,936 shares during the period. Norges Bank acquired a new stake in shares of PepsiCo during the 4th quarter worth about $3,018,813,000. Finally, Amundi boosted its holdings in shares of PepsiCo by 16.8% during the 1st quarter. Amundi now owns 11,444,671 shares of the company's stock worth $1,777,243,000 after buying an additional 1,647,506 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PEP shares. Wells Fargo & Company lowered their price target on shares of PepsiCo from $150.00 to $140.00 and set an "equal weight" rating on the stock in a report on Friday, July 10th. Citigroup cut PepsiCo from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $170.00 to $145.00 in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft set a $155.00 target price on PepsiCo in a report on Friday, July 10th. Sanford C. Bernstein set a $134.00 target price on shares of PepsiCo in a research report on Friday, July 10th. Finally, Barclays lifted their price objective on shares of PepsiCo from $138.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, PepsiCo currently has an average rating of "Hold" and an average target price of $157.90.

Insiders Place Their Bets

In other PepsiCo news, EVP David Flavell sold 2,900 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $139.54, for a total value of $404,666.00. Following the completion of the transaction, the executive vice president owned 74,825 shares of the company's stock, valued at $10,441,080.50. This represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.12% of the stock is owned by corporate insiders.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $136.34 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 1.91. The company has a market cap of $186.09 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.87 and a beta of 0.35. The company has a 50 day moving average of $139.21 and a 200-day moving average of $147.22. PepsiCo, Inc. has a 1-year low of $133.73 and a 1-year high of $171.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 9th. The company reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $2.19 by $0.01. The firm had revenue of $24.18 billion for the quarter, compared to the consensus estimate of $23.95 billion. PepsiCo had a return on equity of 54.63% and a net margin of 10.78%.The company's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.57 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.92 annualized dividend and a dividend yield of 4.3%. PepsiCo's dividend payout ratio (DPR) is 77.59%.

About PepsiCo

PepsiCo, Inc NASDAQ: PEP is a global food and beverage company headquartered in Purchase, New York. Its portfolio includes carbonated soft drinks, sports drinks, bottled water, juices, ready-to-drink beverages, snack foods and convenient foods. Major brands include Pepsi, Mountain Dew, Gatorade, Lay's, Doritos, Cheetos, Quaker and SodaStream.

The company sells products through a broad range of channels, including grocery stores, convenience stores, restaurants, food-service providers, vending operations and e-commerce platforms.

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