Greenleaf Trust Sells 12,620 Shares of PepsiCo, Inc. $PEP

Key Points

• Greenleaf Trust reduced its holdings in PepsiCo by 14.1% during Q2, selling 12,620 shares and ending with 76,812 shares valued at $10.14 million.
• PepsiCo's quarterly earnings surpassed expectations with EPS of $2.12, and the company reported revenue of $22.73 billion, up 1% from the previous year.
• The latest dividend of $1.4225 per share, representing a yield of 4.1%, will be paid on September 30th for shareholders of record as of September 5th.

Greenleaf Trust cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 14.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,812 shares of the company's stock after selling 12,620 shares during the quarter. Greenleaf Trust's holdings in PepsiCo were worth $10,142,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PEP. Foster Group Inc. lifted its position in PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company's stock worth $683,000 after purchasing an additional 229 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of PepsiCo by 3.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after buying an additional 21,859 shares in the last quarter. Ignite Planners LLC lifted its holdings in shares of PepsiCo by 4.2% during the 1st 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. Fulton Bank N.A. increased its stake in PepsiCo by 2.5% in the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company's stock valued at $3,342,000 after acquiring an additional 620 shares during the period. Finally, Graybill Wealth Management LTD. acquired a new position in PepsiCo in the first quarter worth about $3,633,000. Institutional investors own 73.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada decreased their price objective on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a report on Monday, September 15th. Barclays boosted their price target on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Citigroup dropped their price objective on PepsiCo from $168.00 to $165.00 and set a "buy" rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. Finally, Bank of America dropped their target price on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $158.13.

PepsiCo Stock Performance

PepsiCo stock opened at $140.17 on Tuesday. The stock has a 50-day simple moving average of $144.60 and a 200 day simple moving average of $139.53. The stock has a market capitalization of $191.90 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 3.54 and a beta of 0.46. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $177.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share 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 during the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter last year, the company posted $2.28 EPS. The company's quarterly revenue was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 4.1%. PepsiCo's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

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.