Confluence Investment Management LLC Sells 184,995 Shares of PepsiCo, Inc. $PEP

Key Points

• Confluence Investment Management LLC reduced its PepsiCo stake by 20.6% in Q2, owning 711,253 shares worth approximately $93.91 million, which represents 1.3% of its total portfolio.
• Wells Fargo and Morgan Stanley have both raised their price targets for PepsiCo, with current consensus indicating a target price of $158.67 and a "Hold" rating from analysts.
• PepsiCo declared a quarterly dividend of $1.4225 per share, resulting in an annualized yield of 4.0%, with a payout ratio exceeding 100%.

Confluence Investment Management LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 20.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 711,253 shares of the company's stock after selling 184,995 shares during the period. PepsiCo accounts for approximately 1.3% of Confluence Investment Management LLC's investment portfolio, making the stock its 28th biggest holding. Confluence Investment Management LLC owned approximately 0.05% of PepsiCo worth $93,914,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nova Wealth Management Inc. bought a new position in shares of PepsiCo during the first quarter worth approximately $25,000. Elite Financial Inc. bought a new position in shares of PepsiCo during the first quarter worth approximately $28,000. Sunbeam Capital Management LLC bought a new position in shares of PepsiCo during the fourth quarter worth approximately $47,000. MorganRosel Wealth Management LLC bought a new position in shares of PepsiCo during the first quarter worth approximately $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of PepsiCo during the first quarter worth approximately $58,000. Institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent research reports. Citigroup raised their price objective on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. UBS Group reduced their target price on PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday. Barclays raised their target price on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Bank of America reduced their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $158.67.

PepsiCo Trading Down 2.0%

PEP traded down $2.89 during midday trading on Monday, hitting $140.64. 7,258,591 shares of the company were exchanged, compared to its average volume of 8,092,407. The firm has a market capitalization of $192.55 billion, a P/E ratio of 25.62, a P/E/G ratio of 3.63 and a beta of 0.46. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $179.43. The firm's 50 day moving average price is $143.93 and its 200-day moving average price is $140.35. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The firm had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 4.0%. PepsiCo's payout ratio is presently 103.64%.

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.