PepsiCo, Inc. $PEP Shares Sold by Gateway Investment Advisers LLC

Key Points

• Gateway Investment Advisers LLC reduced its stake in PepsiCo, Inc. by 17.0%, resulting in ownership of 293,034 shares valued at approximately $38.69 million.
• Recent research reports from analysts indicate a positive outlook, with Morgan Stanley raising its price target on PepsiCo from $153 to $165 and maintaining an "equal weight" rating.
• PepsiCo declared a quarterly dividend of $1.4225 per share, reflecting an annualized dividend yield of 4.1% despite a dividend payout ratio of 103.64%.

Gateway Investment Advisers LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 17.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 293,034 shares of the company's stock after selling 60,048 shares during the quarter. Gateway Investment Advisers LLC's holdings in PepsiCo were worth $38,692,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of PEP. Nuveen LLC acquired a new position in PepsiCo in the first quarter worth about $946,978,000. GAMMA Investing LLC grew its stake in PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after purchasing an additional 4,564,723 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in PepsiCo by 106.1% in the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after purchasing an additional 1,809,391 shares in the last quarter. Vanguard Group Inc. grew its stake in PepsiCo by 1.4% in the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in PepsiCo in the fourth quarter worth about $221,297,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $1.03 during midday trading on Friday, hitting $141.76. 12,355,480 shares of the company's stock were exchanged, compared to its average volume of 7,696,786. 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 stock's 50 day moving average price is $144.39 and its 200-day moving average price is $140.07. The firm has a market cap of $194.08 billion, a P/E ratio of 25.82, a PEG ratio of 3.58 and a beta of 0.46. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $177.50.

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

PepsiCo Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEP. Morgan Stanley lifted their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Citigroup lifted their price target on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Bank of America decreased their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Royal Bank Of Canada decreased their target price on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating for the company in a research note on Monday, September 15th. Finally, Wells Fargo & Company lifted their target price on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Four 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $158.60.

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.