Hartford Financial Management Inc. Has $1.74 Million Stock Position in PepsiCo, Inc. $PEP

Key Points

• Hartford Financial Management Inc. reduced its stake in PepsiCo by 56.6% in Q2, resulting in ownership of 13,163 shares valued at approximately $1.74 million.
• Several institutional investors, including Claris Advisors LLC and Merit Financial Group LLC, have variedly increased their positions in PepsiCo during the same period, with 73.07% of shares owned by institutional investors overall.
• PepsiCo recently exceeded earnings expectations with a quarterly revenue of $23.94 billion, highlighting a 2.7% increase compared to the previous year, while setting an FY 2025 guidance at 8.120 EPS.

Hartford Financial Management Inc. lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 56.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,163 shares of the company's stock after selling 17,158 shares during the period. Hartford Financial Management Inc.'s holdings in PepsiCo were worth $1,738,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PEP. Claris Advisors LLC MO raised its stake in PepsiCo by 14.1% in the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company's stock worth $329,000 after purchasing an additional 308 shares in the last quarter. Foster Group Inc. grew its position in PepsiCo by 4.6% during the second quarter. Foster Group Inc. now owns 5,169 shares of the company's stock worth $683,000 after buying an additional 229 shares in the last quarter. Ignite Planners LLC increased its stake in 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. Merit Financial Group LLC lifted its position in shares of PepsiCo by 46.4% during the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company's stock valued at $15,098,000 after acquiring an additional 36,239 shares during the period. Finally, Fulton Bank N.A. grew its holdings in shares of PepsiCo by 2.5% during the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company's stock worth $3,342,000 after purchasing an additional 620 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Royal Bank Of Canada decreased their price target on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research note on Monday, September 15th. Piper Sandler lifted their target price on PepsiCo from $160.00 to $162.00 and gave the company an "overweight" rating in a research report on Friday, October 10th. UBS Group lowered their price target on shares of PepsiCo from $175.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Finally, HSBC upped their target price on PepsiCo from $145.00 to $152.00 and gave the stock a "hold" rating in a report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of "Hold" and a consensus target price of $156.95.

PepsiCo Stock Up 0.0%

PepsiCo stock opened at $151.55 on Friday. The firm's fifty day moving average price is $145.97 and its two-hundred day moving average price is $139.62. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $174.00. The firm has a market capitalization of $207.22 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 3.69 and a beta of 0.46. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

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

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.

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