Janney Montgomery Scott LLC Cuts Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• Janney Montgomery Scott LLC reduced its stake in PepsiCo, Inc. by 5.0% during Q2 2023, now holding approximately 863,502 shares valued at $114 million.
• Analysts have mixed views on PepsiCo's stock, with price targets ranging from $139.00 to $175.00, resulting in a general average rating of "Hold" for the company.
• PepsiCo has declared a quarterly dividend of $1.4225, yielding 4.1% annually, with a payout ratio of 103.64% as of the latest announcement.

Janney Montgomery Scott LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 863,502 shares of the company's stock after selling 45,249 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.06% of PepsiCo worth $114,017,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Foster Group Inc. boosted its stake in shares of PepsiCo by 4.6% during the second quarter. Foster Group Inc. now owns 5,169 shares of the company's stock valued at $683,000 after purchasing an additional 229 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of PepsiCo by 3.6% during the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after purchasing an additional 21,859 shares during the period. Ignite Planners LLC boosted its stake in shares of PepsiCo by 4.2% during the first quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after purchasing an additional 151 shares during the period. Fulton Bank N.A. boosted its stake in shares of PepsiCo by 2.5% during the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company's stock valued at $3,342,000 after purchasing an additional 620 shares during the period. Finally, Graybill Wealth Management LTD. purchased a new stake in shares of PepsiCo during the first quarter valued at approximately $3,633,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on PEP shares. Morgan Stanley lifted their price target 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. Bank of America decreased their price objective on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Wells Fargo & Company decreased their price objective on shares of PepsiCo from $154.00 to $150.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Finally, UBS Group decreased their price objective 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. Four 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $158.13.

PepsiCo Stock Down 0.2%

Shares of PepsiCo stock opened at $140.17 on Tuesday. 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 company has a 50-day moving average of $144.60 and a 200 day moving average of $139.53. The firm has a market cap of $191.90 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.54 and a beta of 0.46. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $177.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. PepsiCo's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

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.

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