Kayne Anderson Rudnick Investment Management LLC Lowers Holdings in PepsiCo, Inc. $PEP

Key Points

• Kayne Anderson Rudnick Investment Management LLC has reduced its holdings in PepsiCo, Inc. by 42.2% in Q1, selling 33,415 shares to hold a total of 45,682 shares valued at approximately $6.85 million.
• PepsiCo's EPS for Q2 was reported at $2.12, exceeding analysts' estimates of $2.03, while revenues reached $22.73 billion against expectations of $22.28 billion.
• The company announced a quarterly dividend of $1.4225 per share, which reflects an annualized dividend of $5.69 and a yield of 3.8%.

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 42.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,682 shares of the company's stock after selling 33,415 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in PepsiCo were worth $6,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Legacy Financial Group LLC raised its stake in shares of PepsiCo by 4.9% during the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock worth $227,000 after purchasing an additional 71 shares in the last quarter. Pflug Koory LLC raised its stake in shares of PepsiCo by 1.0% during the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock worth $1,162,000 after purchasing an additional 76 shares in the last quarter. Hoge Financial Services LLC raised its stake in shares of PepsiCo by 2.1% during the 1st quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock worth $545,000 after purchasing an additional 76 shares in the last quarter. Members Trust Co raised its stake in shares of PepsiCo by 1.3% during the 1st quarter. Members Trust Co now owns 5,941 shares of the company's stock worth $891,000 after purchasing an additional 77 shares in the last quarter. Finally, Fairview Capital Investment Management LLC raised its stake in shares of PepsiCo by 2.3% during the 4th quarter. Fairview Capital Investment Management LLC now owns 3,526 shares of the company's stock worth $536,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PEP shares. Bank of America cut their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Cowen reissued a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a research note on Tuesday, June 24th. Morgan Stanley raised their price objective on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, Citigroup raised their price objective on PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $158.73.

PepsiCo Stock Performance

PEP opened at $148.20 on Tuesday. The firm has a market capitalization of $202.90 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 3.99 and a beta of 0.45. The stock's 50 day moving average price is $139.66 and its two-hundred day moving average price is $140.62. 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 $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The firm had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The company's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. PepsiCo's dividend payout ratio (DPR) is 103.64%.

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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