Conning Inc. Grows Holdings in PepsiCo, Inc. $PEP

Key Points

• Conning Inc. increased its stake in PepsiCo, Inc. by 13.8% during the second quarter, bringing their total holdings to approximately $35.1 million.
• PepsiCo reported $2.29 earnings per share for Q3, surpassing expectations and reflecting a 2.7% year-over-year revenue growth.
• The company declared a quarterly dividend of $1.4225 per share, representing an annualized yield of 3.8%.

Conning Inc. raised its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 265,925 shares of the company's stock after buying an additional 32,269 shares during the period. Conning Inc.'s holdings in PepsiCo were worth $35,113,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo during the first quarter worth about $25,000. Elite Financial Inc. purchased a new stake in shares of PepsiCo during the first quarter worth about $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of PepsiCo during the second quarter worth about $29,000. Investment Research & Advisory Group Inc. increased its stake in shares of PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company's stock worth $42,000 after purchasing an additional 232 shares in the last quarter. Finally, RMG Wealth Management LLC purchased a new stake in shares of PepsiCo during the second quarter worth about $45,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

NASDAQ:PEP opened at $150.08 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. The firm has a market capitalization of $205.47 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 3.62 and a beta of 0.46. The company's 50-day moving average is $144.53 and its two-hundred day moving average is $139.32. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $177.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 58.46%. PepsiCo's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, September 5th. PepsiCo's payout ratio is presently 103.64%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Piper Sandler upped their price objective on shares of PepsiCo from $160.00 to $162.00 and gave the company an "overweight" rating in a research note on Friday. Citigroup dropped their price objective on shares of PepsiCo from $168.00 to $165.00 and set a "buy" rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $157.00 to $151.00 and set a "neutral" rating for the company in a research note on Monday, October 6th. Finally, UBS Group dropped their price objective on shares of PepsiCo from $175.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, PepsiCo has a consensus rating of "Hold" and an average target price of $158.25.

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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