Cardinal Capital Management Inc. Cuts Holdings in PepsiCo, Inc. $PEP

Key Points

• Cardinal Capital Management Inc. reduced its holdings in PepsiCo, Inc. by 4.6%, now owning 106,875 shares valued at approximately $14.1 million.
• Several large investors, including Nuveen LLC and GAMMA Investing LLC, have made significant changes to their positions, indicating heightened interest in PepsiCo.
• PepsiCo reported earnings of $2.12 per share for the latest quarter, exceeding expectations, and also announced a quarterly dividend of $1.4225, reflecting a dividend yield of 4.0%.

Cardinal Capital Management Inc. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,875 shares of the company's stock after selling 5,165 shares during the period. Cardinal Capital Management Inc.'s holdings in PepsiCo were worth $14,112,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Nuveen LLC acquired a new position in PepsiCo during the first quarter worth approximately $946,978,000. GAMMA Investing LLC boosted its stake in PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after buying an additional 4,564,723 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in PepsiCo during the 2nd quarter worth about $460,110,000. Assenagon Asset Management S.A. increased its stake in PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after purchasing an additional 1,809,391 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of PepsiCo by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock valued at $20,268,027,000 after buying an additional 1,802,748 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the topic of several research reports. Citigroup boosted their price target on 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 reduced their price target on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research report on Monday, September 15th. Bank of America decreased their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Cowen reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $158.60.

PepsiCo Stock Performance

Shares of PEP stock opened at $141.76 on Friday. 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, Inc. has a 12 month low of $127.60 and a 12 month high of $177.50. The company's fifty day moving average price is $144.39 and its two-hundred day moving average price is $140.07. The firm has a market capitalization of $194.08 billion, a P/E ratio of 25.82, a P/E/G ratio of 3.58 and a beta of 0.46.

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, beating analysts' consensus estimates of $2.03 by $0.09. The business had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. PepsiCo's dividend payout ratio 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.

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