ICONIQ Capital LLC Grows Stake in PepsiCo, Inc. $PEP

Key Points

• ICONIQ Capital LLC significantly increased its stake in PepsiCo, Inc. by 379.1% in the first quarter, acquiring an additional 5,823 shares for a total of 7,359 shares valued at approximately $1.1 million.
• PepsiCo reported quarterly earnings of $2.12 EPS, exceeding analysts' estimates of $2.03, and achieved a revenue of $22.73 billion, above the expected $22.28 billion.
• The company is set to distribute a quarterly dividend of $1.4225 per share on September 30, representing an annualized yield of 3.8%, despite a current payout ratio of 103.64%.

ICONIQ Capital LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 379.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,359 shares of the company's stock after purchasing an additional 5,823 shares during the period. ICONIQ Capital LLC's holdings in PepsiCo were worth $1,103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after acquiring an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of PepsiCo by 2.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock worth $71,527,000 after acquiring an additional 11,538 shares during the period. Topsail Wealth Management LLC purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $215,000. Voya Financial Advisors Inc. grew its stake in shares of PepsiCo by 12.2% in the 4th quarter. Voya Financial Advisors Inc. now owns 3,577 shares of the company's stock worth $543,000 after buying an additional 388 shares during the last quarter. Finally, Three Seasons Wealth LLC purchased a new stake in shares of PepsiCo in the 4th quarter worth approximately $236,000. Institutional investors own 73.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PEP shares. JPMorgan Chase & Co. cut their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. Cowen restated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Bank of America cut their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a research note on Tuesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of "Hold" and an average target price of $158.73.

PepsiCo Stock Performance

PEP traded down $1.20 during midday trading on Tuesday, hitting $147.00. 11,207,315 shares of the company traded hands, compared to its average volume of 7,658,064. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $201.25 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.95 and a beta of 0.45. The company's 50-day moving average is $140.01 and its 200 day moving average is $140.66. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The firm had revenue of $22.73 billion for 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 company's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is 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.