Cornerstone Wealth Group LLC Purchases 2,060 Shares of PepsiCo, Inc. $PEP

Key Points

• Cornerstone Wealth Group LLC increased its holdings in PepsiCo, Inc. by 2.6% during Q2, owning 80,371 shares valued at $10.6 million after purchasing an additional 2,060 shares.
• PepsiCo reported quarterly earnings of $2.29 per share, surpassing estimates, with a revenue of $23.94 billion, showing a 2.7% year-over-year increase.
• The company's recent quarterly dividend was $1.4225 per share, indicating a yield of 3.8%, while its dividend payout ratio stands at 108.17%.

Cornerstone Wealth Group LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,371 shares of the company's stock after purchasing an additional 2,060 shares during the period. Cornerstone Wealth Group LLC's holdings in PepsiCo were worth $10,612,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nova Wealth Management Inc. bought a new position in PepsiCo during the 1st quarter valued at $25,000. Elite Financial Inc. bought a new position in PepsiCo during the 1st quarter valued at $28,000. Legend Financial Advisors Inc. bought a new position in PepsiCo during the 2nd quarter valued at $29,000. RMG Wealth Management LLC bought a new position in PepsiCo during the 2nd quarter valued at $45,000. Finally, Investment Research & Advisory Group Inc. lifted its stake in PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company's stock valued at $42,000 after acquiring an additional 232 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Down 0.8%

Shares of PEP opened at $148.89 on Tuesday. The business has a 50-day moving average of $144.72 and a 200 day moving average of $139.18. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $177.50. The firm has a market cap of $203.58 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 3.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91.

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

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were issued a $1.4225 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 3.8%. PepsiCo's dividend payout ratio (DPR) is 108.17%.

Analyst Ratings Changes

Several brokerages have weighed in on PEP. Piper Sandler raised their price objective on PepsiCo from $160.00 to $162.00 and gave the company an "overweight" rating in a research note on Friday. Weiss Ratings reiterated a "hold (c-)" rating on shares of PepsiCo in a research note on Saturday, September 27th. Morgan Stanley lifted their target price on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $157.00 to $151.00 and set a "neutral" rating on the stock in a research note on Monday, October 6th. Finally, UBS Group lowered their target price on PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $157.75.

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.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.