Essex Financial Services Inc. Lowers Stake in PepsiCo, Inc. $PEP

Key Points

• Essex Financial Services Inc. reduced its stake in PepsiCo by 21.5% during Q2, selling 6,784 shares and holding 24,706 shares valued at $3,262,000 at quarter-end.
• PepsiCo recently announced a quarterly dividend of $1.4225 per share, with a 4.0% yield, despite having a high dividend payout ratio of 103.64%.
• Analysts have mixed ratings on PepsiCo, with a consensus target price of $158.60, reflecting a balance of 4 Buy, 14 Hold, and 1 Sell rating.

Essex Financial Services Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 21.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,706 shares of the company's stock after selling 6,784 shares during the quarter. Essex Financial Services Inc.'s holdings in PepsiCo were worth $3,262,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo during the 1st quarter valued at $25,000. Elite Financial Inc. acquired a new position in shares of PepsiCo during the first quarter valued at about $28,000. MorganRosel Wealth Management LLC purchased a new position in shares of PepsiCo in the 1st quarter valued at approximately $55,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in PepsiCo in the 1st quarter worth approximately $58,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in PepsiCo during the 1st quarter worth approximately $58,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.2%

PEP stock opened at $142.17 on Thursday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $177.50. The business's 50-day moving average is $144.79 and its 200 day moving average is $139.90. 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 stock has a market cap of $194.64 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 3.58 and a beta of 0.46.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion for the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The business's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 4.0%. PepsiCo's dividend payout ratio (DPR) is 103.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group reduced their target price on PepsiCo from $175.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Wells Fargo & Company upped their target price on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Barclays raised their target price on shares of PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Morgan Stanley lifted their price objective on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada reduced their price target on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating for the company in a research report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of "Hold" and a consensus target price of $158.60.

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.

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