Canandaigua National Trust Co of Florida Purchases 3,973 Shares of PepsiCo, Inc. $PEP

Key Points

• Canandaigua National Trust Co of Florida increased its holdings in PepsiCo, Inc. by 56.2% in the second quarter, acquiring an additional 3,973 shares, bringing their total to 11,046 shares valued at approximately $1.46 million.
• PepsiCo's recent earnings report indicated a quarterly EPS of $2.12, surpassing estimates, with a revenue of $22.73 billion, reflecting a 1% year-over-year growth.
• The company announced a quarterly dividend of $1.4225 per share, resulting in an annualized dividend yield of 4.0% and a payout ratio of 103.64%.

Canandaigua National Trust Co of Florida boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 56.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,046 shares of the company's stock after acquiring an additional 3,973 shares during the period. PepsiCo makes up approximately 1.0% of Canandaigua National Trust Co of Florida's holdings, making the stock its 19th largest holding. Canandaigua National Trust Co of Florida's holdings in PepsiCo were worth $1,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. Brighton Jones LLC boosted its holdings in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in PepsiCo by 2.5% during 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 in the last quarter. Trace Wealth Advisors LLC acquired a new stake in PepsiCo during the fourth quarter valued at approximately $373,000. Tidal Investments LLC boosted its holdings in PepsiCo by 33.7% during the fourth quarter. Tidal Investments LLC now owns 101,266 shares of the company's stock valued at $15,399,000 after purchasing an additional 25,547 shares in the last quarter. Finally, Texas Bank & Trust Co acquired a new stake in PepsiCo during the fourth quarter valued at approximately $1,204,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Cowen reissued a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Barclays boosted their target price on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Citigroup boosted their target price on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $146.00 target price on shares of PepsiCo in a report on Wednesday, September 3rd. 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $158.67.

PepsiCo Stock Performance

PEP stock opened at $143.53 on Monday. The company has a 50 day moving average price of $143.81 and a 200 day moving average price of $140.44. The stock has a market capitalization of $196.50 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.63 and a beta of 0.46. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $179.43. 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 issued its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating the consensus estimate 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 business's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Analysts forecast 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 given a dividend of $1.4225 per share. The ex-dividend date is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. PepsiCo's payout ratio is presently 103.64%.

PepsiCo 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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