Gabelli Funds LLC Has $30.30 Million Holdings in PepsiCo, Inc. $PEP

Key Points

• Gabelli Funds LLC reduced its stake in PepsiCo, Inc. by 7.3% during the first quarter, selling 16,000 shares and leaving them with 202,089 shares valued at approximately $30.3 million.
• PepsiCo shares recently faced a slight decline of 0.8%, with analysts maintaining a consensus rating of "Hold" and an average target price of $158.73.
• The company has announced a quarterly dividend of $1.4225 per share to be distributed on September 30, reflecting an annualized yield of 3.9% despite a payout ratio of 103.64%.

Gabelli Funds LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 202,089 shares of the company's stock after selling 16,000 shares during the period. Gabelli Funds LLC's holdings in PepsiCo were worth $30,301,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Epoch Investment Partners Inc. raised its holdings in shares of PepsiCo by 36.5% in the first quarter. Epoch Investment Partners Inc. now owns 386,104 shares of the company's stock valued at $57,892,000 after purchasing an additional 103,229 shares during the last quarter. Harvest Portfolios Group Inc. raised its holdings in shares of PepsiCo by 15.0% in the first quarter. Harvest Portfolios Group Inc. now owns 127,743 shares of the company's stock valued at $19,154,000 after purchasing an additional 16,653 shares during the last quarter. Widmann Financial Services Inc. raised its holdings in shares of PepsiCo by 6.0% in the first quarter. Widmann Financial Services Inc. now owns 8,499 shares of the company's stock valued at $1,274,000 after purchasing an additional 483 shares during the last quarter. Potomac Fund Management Inc. ADV raised its holdings in shares of PepsiCo by 18.3% in the first quarter. Potomac Fund Management Inc. ADV now owns 7,188 shares of the company's stock valued at $1,019,000 after purchasing an additional 1,111 shares during the last quarter. Finally, South Plains Financial Inc. raised its holdings in shares of PepsiCo by 11.2% in the first quarter. South Plains Financial Inc. now owns 8,847 shares of the company's stock valued at $1,326,000 after purchasing an additional 894 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PEP shares. Royal Bank Of Canada restated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. Cowen restated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. JPMorgan Chase & Co. lowered their target price 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, Morgan Stanley boosted their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PepsiCo has an average rating of "Hold" and a consensus target price of $158.73.

PepsiCo Stock Performance

PEP stock traded up $1.67 during midday trading on Friday, reaching $148.65. 7,757,444 shares of the company were exchanged, compared to its average volume of 7,700,821. 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 business has a 50-day moving average price of $141.13 and a two-hundred day moving average price of $140.73. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $179.73. The firm has a market capitalization of $203.51 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 3.96 and a beta of 0.45.

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

PepsiCo Dividend Announcement

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

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.