PepsiCo, Inc. $PEP Shares Sold by Eldred Rock Partners LLC

Key Points

• Eldred Rock Partners LLC reduced its stake in PepsiCo by 5% during the second quarter, holding $8.90 million worth of shares, which accounts for about 2.7% of its total holdings.
• PepsiCo reported earnings per share of $2.12 for the latest quarter, exceeding estimates, along with a 1.0% year-over-year increase in revenue to $22.73 billion.
• The company announced a quarterly dividend of $1.4225, reflecting an annual yield of 4.1%, with a payout ratio exceeding 103%.

Eldred Rock Partners LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,431 shares of the company's stock after selling 3,518 shares during the period. PepsiCo accounts for about 2.7% of Eldred Rock Partners LLC's portfolio, making the stock its 22nd biggest holding. Eldred Rock Partners LLC's holdings in PepsiCo were worth $8,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PEP. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo in the first quarter valued at about $25,000. Elite Financial Inc. purchased a new stake in shares of PepsiCo during the first quarter valued at approximately $28,000. Sunbeam Capital Management LLC purchased a new position in shares of PepsiCo in the 4th quarter worth about $47,000. MorganRosel Wealth Management LLC purchased a new stake in PepsiCo in the first quarter worth $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of PepsiCo in the first quarter valued at $58,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 10th. UBS Group decreased their target price on PepsiCo from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Wells Fargo & Company raised their price target on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Royal Bank Of Canada lowered their target price on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research report on Monday, September 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Four research 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.com, PepsiCo currently has an average rating of "Hold" and an average target price of $158.60.

PepsiCo Trading Up 0.7%

Shares of NASDAQ:PEP traded up $1.03 during trading hours on Friday, hitting $141.76. 12,355,480 shares of the company's stock traded hands, compared to its average volume of 7,696,786. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $177.50. The business has a fifty day moving average price of $144.39 and a 200-day moving average price of $140.07. The firm has a market capitalization of $194.08 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.46. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced 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. The firm had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.PepsiCo's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. PepsiCo's payout ratio is 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.