Bleakley Financial Group LLC Sells 2,390 Shares of PepsiCo, Inc. $PEP

Key Points

• Bleakley Financial Group LLC sold 2,390 shares of PepsiCo, Inc., reducing its stake by 6.1% and leaving it with a total of 36,854 shares valued at $4.87 million.
• Analysts have made various adjustments to their target prices for PepsiCo, with Goldman Sachs raising its target from $165.00 to $167.00, while the stock has an average rating of "Hold" and a consensus target price of approximately $156.95.
• PepsiCo reported a quarterly earnings per share (EPS) of $2.29, exceeding analyst expectations, and saw a revenue increase of 2.7% year-over-year, totaling $23.94 billion.

Bleakley Financial Group LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,854 shares of the company's stock after selling 2,390 shares during the period. Bleakley Financial Group LLC's holdings in PepsiCo were worth $4,866,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PEP. Nova Wealth Management Inc. bought a new position in PepsiCo during the 1st quarter valued at about $25,000. Elite Financial Inc. purchased a new position in shares of PepsiCo during the first quarter valued at approximately $28,000. Legend Financial Advisors Inc. bought a new position in shares of PepsiCo during the second quarter valued at approximately $29,000. Frazier Financial Advisors LLC raised its holdings in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company's stock worth $35,000 after buying an additional 122 shares during the period. Finally, Investment Research & Advisory Group Inc. boosted its holdings in PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company's stock valued at $42,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

PEP has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on PepsiCo from $165.00 to $167.00 and gave the stock a "buy" rating in a research note on Friday, October 10th. DZ Bank upgraded shares of PepsiCo from a "hold" rating to a "buy" rating and set a $167.00 price objective for the company in a report on Tuesday. Royal Bank Of Canada dropped their target price on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research note on Monday, September 15th. Barclays lifted their price target on shares of PepsiCo from $140.00 to $142.00 and gave the company an "equal weight" rating in a research note on Friday, October 10th. Finally, Bank of America increased their price objective on PepsiCo from $150.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Seven investment 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, the company has an average rating of "Hold" and an average target price of $156.95.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $151.51 on Friday. The firm has a 50 day moving average of $145.95 and a 200 day moving average of $139.54. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $207.17 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 3.72 and a beta of 0.46. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $174.00.

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

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.

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.