Eastern Bank Trims Stock Position in PepsiCo, Inc. $PEP

Key Points

• Eastern Bank reduced its stake in PepsiCo by 1.8%, holding 144,400 shares after selling 2,720 shares in Q2, with a total value of approximately $19 million.
• PepsiCo's recent quarterly earnings topped estimates, reporting $2.29 EPS against a consensus of $2.26, with revenue rising by 2.7% year-over-year to $23.94 billion.
• The company recently announced a quarterly dividend of $1.4225 per share, resulting in an annualized yield of 3.8% despite a payout ratio of 103.64%.

Eastern Bank trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,400 shares of the company's stock after selling 2,720 shares during the quarter. Eastern Bank's holdings in PepsiCo were worth $19,067,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PEP. Nova Wealth Management Inc. purchased a new position in PepsiCo during the first quarter valued at approximately $25,000. Elite Financial Inc. purchased a new position in PepsiCo during the first quarter valued at approximately $28,000. Legend Financial Advisors Inc. purchased a new position in PepsiCo during the second quarter valued at approximately $29,000. Investment Research & Advisory Group Inc. increased its holdings in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company's stock valued at $42,000 after buying an additional 232 shares during the period. Finally, RMG Wealth Management LLC acquired a new stake in PepsiCo in the second quarter valued at approximately $45,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PEP. Royal Bank Of Canada lowered their target price on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating for the company in a research note on Monday, September 15th. BNP Paribas Exane lowered their target price on shares of PepsiCo from $152.00 to $150.00 and set a "neutral" rating for the company in a research note on Monday, October 6th. UBS Group lowered their target price 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. Barclays raised their target price on shares of PepsiCo from $140.00 to $142.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Wells Fargo & Company raised their target price on shares of PepsiCo from $150.00 to $154.00 and gave the company a "positive" rating in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $158.25.

PepsiCo Trading Up 3.7%

NASDAQ:PEP opened at $150.08 on Friday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $177.50. The firm has a fifty day simple moving average of $144.53 and a 200-day simple moving average of $139.32. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The company has a market capitalization of $205.47 billion, a P/E ratio of 28.53, a PEG ratio of 3.62 and a beta of 0.46.

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

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. PepsiCo's payout ratio is currently 103.64%.

PepsiCo Company 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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