Cardinal Point Capital Management ULC Purchases 2,680 Shares of PepsiCo, Inc. $PEP

Key Points

• Cardinal Point Capital Management ULC increased its stake in PepsiCo, acquiring an additional 2,680 shares during the second quarter, raising its total holdings to 59,475 shares valued at $7.85 million.
• PepsiCo reported a quarterly earnings per share of $2.29, surpassing analyst estimates, with a revenue of $23.94 billion for the period.
• Analyst ratings for PepsiCo show a consensus of seven Buy, fourteen Hold, and one Sell, with an average price target of $156.95.

Cardinal Point Capital Management ULC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,475 shares of the company's stock after acquiring an additional 2,680 shares during the period. Cardinal Point Capital Management ULC's holdings in PepsiCo were worth $7,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC raised its position in shares of PepsiCo by 4.2% during the second quarter. 180 Wealth Advisors LLC now owns 20,304 shares of the company's stock valued at $2,681,000 after buying an additional 821 shares during the last quarter. Moser Wealth Advisors LLC raised its position in shares of PepsiCo by 2.5% during the second quarter. Moser Wealth Advisors LLC now owns 9,293 shares of the company's stock valued at $1,227,000 after buying an additional 228 shares during the last quarter. Prentice Wealth Management LLC raised its position in shares of PepsiCo by 4.6% during the second quarter. Prentice Wealth Management LLC now owns 4,157 shares of the company's stock valued at $549,000 after buying an additional 182 shares during the last quarter. FSM Wealth Advisors LLC raised its position in shares of PepsiCo by 15.8% during the second quarter. FSM Wealth Advisors LLC now owns 8,930 shares of the company's stock valued at $1,201,000 after buying an additional 1,217 shares during the last quarter. Finally, Hoge Financial Services LLC raised its position in shares of PepsiCo by 3.2% during the second quarter. Hoge Financial Services LLC now owns 3,749 shares of the company's stock valued at $498,000 after buying an additional 116 shares during the last quarter. Institutional investors own 73.07% of the company's stock.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of PepsiCo from $140.00 to $142.00 and gave the company an "equal weight" rating in a research report on Friday, October 10th. Rothschild & Co Redburn raised their target price on shares of PepsiCo from $115.00 to $117.00 and gave the company a "sell" rating in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft reissued 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. Finally, Citigroup cut their target price on shares of PepsiCo from $168.00 to $165.00 and set a "buy" rating for the company in a report on Thursday, September 25th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $156.95.

PepsiCo Stock Down 1.0%

NASDAQ PEP opened at $151.51 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The company has a fifty day moving average of $145.95 and a two-hundred day moving average of $139.54. The firm has a market capitalization of $207.17 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.72 and a beta of 0.46. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $174.00.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, October 9th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. PepsiCo's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

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.

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