First Long Island Investors LLC Sells 2,452 Shares of PepsiCo, Inc. $PEP

Key Points

• First Long Island Investors LLC reduced its stake in PepsiCo by 2.2%, selling 2,452 shares, and now holds 109,308 shares valued at approximately $16.39 million.
• PepsiCo announced a quarterly dividend of $1.4225, with an annualized dividend yield of 3.9%, set to be paid on September 30th.
• The company reported earnings of $2.12 per share last quarter, surpassing analyst expectations, and projected annual earnings of 8.3 per share for the current year.

First Long Island Investors LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,308 shares of the company's stock after selling 2,452 shares during the quarter. First Long Island Investors LLC's holdings in PepsiCo were worth $16,390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nova Wealth Management Inc. bought a new stake in PepsiCo during the 1st quarter valued at $25,000. Elite Financial Inc. bought a new stake in PepsiCo during the 1st quarter valued at $28,000. Sunbeam Capital Management LLC bought a new stake in PepsiCo during the 4th quarter valued at $47,000. MorganRosel Wealth Management LLC bought a new stake in PepsiCo during the 1st quarter valued at $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in PepsiCo during the 1st quarter valued at $58,000. Institutional investors own 73.07% of the company's stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $144.23 on Friday. The company's 50-day moving average is $143.65 and its 200 day moving average is $140.69. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The company has a market capitalization of $197.46 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 3.61 and a beta of 0.46. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $179.43.

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

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's payout ratio is 103.64%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PEP shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Bank of America cut their price objective on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Cowen reaffirmed a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Finally, Wells Fargo & Company lifted their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $158.67.

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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