Canoe Financial LP Sells 7,400 Shares of PepsiCo, Inc. $PEP

Key Points

• Canoe Financial LP reduced its stake in PepsiCo by 7.0%, ending with a holding worth approximately $13.08 million, after selling 7,400 shares in the second quarter.
• PepsiCo's most recent earnings report showed a $2.12 EPS that exceeded estimates, with revenue of $22.73 billion, reflecting a 1.0% year-over-year increase.
• The company declared a quarterly dividend of $1.4225 per share, with a yield of 4.0% and a dividend payout ratio of 103.64%.

Canoe Financial LP lowered its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,040 shares of the company's stock after selling 7,400 shares during the period. Canoe Financial LP's holdings in PepsiCo were worth $13,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of PepsiCo by 12.4% during the 4th 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 in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of 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. Twinbeech Capital LP bought a new stake in PepsiCo in the fourth quarter worth about $1,733,000. Woodline Partners LP bought a new position in PepsiCo in the 4th quarter worth approximately $9,716,000. Finally, Voloridge Investment Management LLC purchased a new stake in PepsiCo in the 4th quarter worth approximately $22,189,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Royal Bank Of Canada dropped their price target 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. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Cowen restated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Finally, Bank of America reduced their target price on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PepsiCo currently has an average rating of "Hold" and an average target price of $158.60.

PepsiCo Stock Up 0.7%

Shares of NASDAQ:PEP traded up $1.03 during mid-day trading on Friday, hitting $141.76. 12,355,480 shares of the company traded hands, compared to its average volume of 7,696,786. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $177.50. The firm's 50 day simple moving average is $144.39 and its 200 day simple moving average is $140.07. The firm 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.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced 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. The company had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is currently 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.