Busey Bank Lowers Holdings in PepsiCo, Inc. $PEP

Key Points

• Busey Bank has reduced its stake in PepsiCo, Inc. by 4.7%, now holding 219,505 shares valued at approximately $28.98 million.
• PepsiCo reported earnings of $2.12 per share, exceeding analysts' expectations, with revenues of $22.73 billion for the quarter.
• The company recently announced a quarterly dividend of $1.4225 per share, yielding around 4.0% annually, with a payout ratio of 103.64%.

Busey Bank trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 219,505 shares of the company's stock after selling 10,797 shares during the quarter. PepsiCo accounts for 0.9% of Busey Bank's portfolio, making the stock its 25th largest position. Busey Bank's holdings in PepsiCo were worth $28,983,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after acquiring an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG raised its position in PepsiCo by 2.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after purchasing an additional 11,538 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $95,000. GF Fund Management CO. LTD. purchased a new position in PepsiCo in the fourth quarter valued at about $39,539,000. Finally, Cache Advisors LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $220,000. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PEP shares. Royal Bank Of Canada reduced their price target on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating for the company in a research report on Monday, September 15th. Cowen restated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Wells Fargo & Company raised their price target 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. Morgan Stanley boosted their price objective on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, UBS Group dropped their price objective on PepsiCo from $175.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $158.60.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $1.03 during midday trading on Friday, hitting $141.76. The company had a trading volume of 12,355,480 shares, compared to its average volume of 8,054,161. The firm has a market capitalization of $194.08 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.46. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $177.50. The business has a 50-day simple moving average of $144.39 and a two-hundred day simple moving average of $139.97.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued 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 4.0%. PepsiCo's dividend payout ratio (DPR) 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.