Granite Group Advisors LLC Has $3.40 Million Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• Granite Group Advisors LLC increased its stake in PepsiCo, Inc. by 45.8%, owning 25,777 shares valued at approximately $3.40 million, making it the firm's third largest holding.
• PepsiCo reported a quarterly earnings per share of $2.29, exceeding analyst expectations, with revenues of $23.94 billion, reflecting a 2.7% increase from the previous year.
• Analysts maintain a mixed outlook on PepsiCo, with six ratings of "Buy," fourteen "Hold," and one "Sell," while the average price target for the stock is set at $156.00.

Granite Group Advisors LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 45.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,777 shares of the company's stock after acquiring an additional 8,097 shares during the period. PepsiCo makes up approximately 2.0% of Granite Group Advisors LLC's investment portfolio, making the stock its 3rd largest holding. Granite Group Advisors LLC's holdings in PepsiCo were worth $3,404,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Brighton Jones LLC lifted its stake in PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after buying an additional 6,574 shares in the last quarter. GAMMA Investing LLC lifted its position in PepsiCo by 28.1% in the 1st quarter. GAMMA Investing LLC now owns 30,603 shares of the company's stock valued at $4,589,000 after acquiring an additional 6,712 shares in the last quarter. Sagespring Wealth Partners LLC lifted its position in PepsiCo by 2.7% in the 1st quarter. Sagespring Wealth Partners LLC now owns 10,220 shares of the company's stock valued at $1,532,000 after acquiring an additional 266 shares in the last quarter. Grimes & Company Inc. boosted its stake in PepsiCo by 3.0% in the 1st quarter. Grimes & Company Inc. now owns 74,861 shares of the company's stock worth $11,225,000 after purchasing an additional 2,188 shares during the period. Finally, Grove Bank & Trust raised its stake in shares of PepsiCo by 13.4% in the 1st quarter. Grove Bank & Trust now owns 8,535 shares of the company's stock valued at $1,280,000 after purchasing an additional 1,008 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PEP shares. Cowen reaffirmed a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. The Goldman Sachs Group upped their price target on PepsiCo from $165.00 to $167.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. Morgan Stanley lifted their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Wells Fargo & Company increased their target price on shares of PepsiCo from $150.00 to $154.00 and gave the stock a "positive" rating in a report on Friday. Finally, Royal Bank Of Canada lowered their price target on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research note on Monday, September 15th. Six investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $156.00.

PepsiCo Stock Performance

Shares of PEP opened at $151.54 on Wednesday. The company has a market cap of $207.21 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 3.62 and a beta of 0.46. The firm has a 50-day moving average of $144.96 and a 200-day moving average of $139.27. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $177.50. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company had revenue of $23.94 billion for the quarter, compared to analysts' expectations of $23.91 billion. During the same period in the prior year, the firm earned $2.31 EPS. PepsiCo's quarterly revenue was up 2.7% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were issued a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 3.8%. PepsiCo's dividend payout ratio (DPR) is currently 108.17%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.