PepsiCo, Inc. $PEP Shares Bought by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC increased its stake in PepsiCo by 27.0%, acquiring an additional 30,778 shares, bringing its total holdings to 144,720 shares valued at approximately $21.7 million.
• PepsiCo reported a quarterly EPS of $2.12, exceeding analysts' expectations, with revenues of $22.73 billion, which is a 1.0% increase year-over-year.
• The company will pay a quarterly dividend of $1.4225 per share on September 30th, with an annualized dividend yield of 3.8% and a payout ratio of 103.64%.

First Manhattan CO. LLC. grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 27.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 144,720 shares of the company's stock after purchasing an additional 30,778 shares during the quarter. First Manhattan CO. LLC.'s holdings in PepsiCo were worth $21,699,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PEP. Asset Management One Co. Ltd. increased its holdings in shares of PepsiCo by 3.6% during the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after acquiring an additional 21,859 shares in the last quarter. Ignite Planners LLC boosted its holdings in shares of PepsiCo by 4.2% in the first quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock worth $566,000 after acquiring an additional 151 shares during the period. Graybill Wealth Management LTD. bought a new position in shares of PepsiCo in the first quarter worth $3,633,000. OMERS ADMINISTRATION Corp raised its holdings in shares of PepsiCo by 12.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after acquiring an additional 13,461 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of PepsiCo by 2.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 270,938 shares of the company's stock worth $40,624,000 after acquiring an additional 6,112 shares during the last quarter. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Down 1.1%

Shares of NASDAQ:PEP traded down $1.64 during trading hours on Wednesday, hitting $148.64. The company's stock had a trading volume of 11,245,271 shares, compared to its average volume of 7,288,083. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.73. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The company has a market capitalization of $203.50 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 3.96 and a beta of 0.46. The firm's fifty day moving average price is $142.32 and its 200 day moving average price is $140.86.

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

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 3.8%. PepsiCo's payout ratio is currently 103.64%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several analyst reports. Dbs Bank downgraded PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Citigroup increased their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company increased their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. cut 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. Finally, Barclays increased their price objective on shares of PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.