DAVENPORT & Co LLC Sells 11,736 Shares of PepsiCo, Inc. $PEP

Key Points

• DAVENPORT & Co LLC reduced its holdings in PepsiCo by 2.0%, selling 11,736 shares, and now owns 588,758 shares worth approximately $77.6 million.
• PepsiCo reported quarterly earnings of $2.12 per share, exceeding estimates, with revenue reaching $22.73 billion, reflecting a 1.0% year-over-year growth.
• PepsiCo announced a quarterly dividend of $1.4225, translating to an annualized yield of 4.0%, although its payout ratio stands at 103.64%.

DAVENPORT & Co LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 588,758 shares of the company's stock after selling 11,736 shares during the period. DAVENPORT & Co LLC's holdings in PepsiCo were worth $77,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEP. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo during the first quarter valued at $25,000. Elite Financial Inc. bought a new position in PepsiCo in the first quarter worth approximately $28,000. Legend Financial Advisors Inc. bought a new stake in PepsiCo during the second quarter valued at about $29,000. Investment Research & Advisory Group Inc. boosted its position in shares of PepsiCo by 263.6% in 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 during the period. Finally, MorganRosel Wealth Management LLC purchased a new stake in PepsiCo in the 1st quarter worth $55,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Price Performance

PepsiCo stock opened at $141.98 on Monday. The firm has a market capitalization of $194.38 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 3.58 and a beta of 0.46. 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, Inc. has a 52-week low of $127.60 and a 52-week high of $177.50. The company has a fifty day simple moving average of $144.36 and a 200-day simple moving average of $139.34.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The business had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same period in the prior year, the business earned $2.28 earnings per share. The business's revenue was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal 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 issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, September 5th. PepsiCo's payout ratio is presently 103.64%.

Analyst Ratings Changes

A number of analysts have issued reports on PEP shares. Wells Fargo & Company reduced their price target on shares of PepsiCo from $154.00 to $150.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of PepsiCo in a research note on Saturday, September 27th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Bank of America lowered their price objective on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Finally, UBS Group dropped their price target on PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $157.87.

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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