Burns J W & Co. Inc. NY Sells 39,755 Shares of PepsiCo, Inc. $PEP

Key Points

• Burns J W & Co. Inc. NY reduced its stake in PepsiCo, Inc. by 38.6% during the 2nd quarter, now holding 63,134 shares valued at approximately $8.34 million.
• Other institutional investors have increased their holdings in PepsiCo, with a total of 73.07% of the stock now owned by institutional investors.
• PepsiCo recently reported a quarterly earnings per share (EPS) of $2.12, exceeding analyst expectations, and announced a quarterly dividend of $1.4225 per share with a yield of 4.0%.

Burns J W & Co. Inc. NY cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 38.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,134 shares of the company's stock after selling 39,755 shares during the period. PepsiCo comprises approximately 1.0% of Burns J W & Co. Inc. NY's portfolio, making the stock its 25th largest position. Burns J W & Co. Inc. NY's holdings in PepsiCo were worth $8,336,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Legacy Financial Group LLC boosted its position in PepsiCo by 4.9% during the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock valued at $227,000 after buying an additional 71 shares during the period. Centurion Wealth Management LLC boosted its position in PepsiCo by 3.8% during the second quarter. Centurion Wealth Management LLC now owns 2,068 shares of the company's stock valued at $273,000 after buying an additional 75 shares during the period. SK Wealth Management LLC boosted its position in PepsiCo by 3.3% during the second quarter. SK Wealth Management LLC now owns 2,375 shares of the company's stock valued at $319,000 after buying an additional 75 shares during the period. Pflug Koory LLC boosted its position in PepsiCo by 1.0% during the first quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock valued at $1,162,000 after buying an additional 76 shares during the period. Finally, Hoge Financial Services LLC boosted its position in PepsiCo by 2.1% during the first quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock valued at $545,000 after buying an additional 76 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. UBS Group dropped their target price on shares of PepsiCo from $175.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Citigroup increased their target price on shares of PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada dropped their target price on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating for the company in a report on Monday, September 15th. Finally, 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 report on Friday, July 11th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $158.60.

PepsiCo Trading Up 0.7%

PEP stock traded up $1.03 during trading on Friday, reaching $141.76. The company had a trading volume of 12,355,480 shares, compared to its average volume of 7,696,786. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50. The company has a market cap of $194.08 billion, a P/E ratio of 25.82, a PEG ratio of 3.58 and a beta of 0.46. The business has a 50 day moving average of $144.39 and a 200 day moving average of $140.07. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the prior year, the firm earned $2.28 earnings per share. PepsiCo's revenue was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal 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 of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.0%. PepsiCo's dividend payout ratio (DPR) is currently 103.64%.

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.