Chevy Chase Trust Holdings LLC Decreases Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in PepsiCo by 12.5%, selling 124,466 shares, leaving them with 869,727 shares valued at approximately $114.8 million.
• PepsiCo reported a quarterly earnings per share of $2.29, exceeding estimates, with revenue of $23.94 billion, marking a year-over-year increase of 2.7%.
• The company announced a quarterly dividend of $1.4225, representing a 3.7% yield and a payout ratio of 108.17%.

Chevy Chase Trust Holdings LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 869,727 shares of the company's stock after selling 124,466 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of PepsiCo worth $114,839,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PEP. Nuveen LLC purchased a new stake in PepsiCo during the first quarter worth approximately $946,978,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of PepsiCo during the second quarter worth $460,110,000. Vanguard Group Inc. lifted its position in shares of PepsiCo by 1.4% during the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company's stock worth $3,969,698,000 after purchasing an additional 1,258,198 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of PepsiCo by 14.3% during the first quarter. Deutsche Bank AG now owns 9,296,022 shares of the company's stock worth $1,393,846,000 after purchasing an additional 1,165,745 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. Evercore ISI boosted their target price on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Cowen reissued a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. BNP Paribas Exane reduced their target price on shares of PepsiCo from $152.00 to $150.00 and set a "neutral" rating on the stock in a research report on Monday, October 6th. Finally, Royal Bank Of Canada reduced their target price on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research report on Monday, September 15th. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of "Hold" and an average target price of $156.00.

PepsiCo Trading Up 1.0%

PepsiCo stock opened at $152.67 on Friday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $177.50. The firm's 50-day moving average is $145.34 and its 200-day moving average is $139.37. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The company has a market cap of $208.75 billion, a P/E ratio of 29.02, a PEG ratio of 3.68 and a beta of 0.46.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were given a $1.4225 dividend. The ex-dividend date was Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 3.7%. PepsiCo's dividend payout ratio is 108.17%.

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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