Kornitzer Capital Management Inc. KS Increases Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• Kornitzer Capital Management Inc. KS increased its stake in PepsiCo by 4.1% during the second quarter, owning 410,813 shares valued at approximately $54.2 million, making it the firm's 18th largest holding.
• PepsiCo's latest earnings report showed an EPS of $2.29, exceeding estimates, with revenue of $23.94 billion, which was also higher than expected, indicating a 2.7% year-over-year growth.
• Analysts have assigned a consensus Hold rating for PepsiCo, with target prices ranging from $115 to $162, reflecting varied expectations on the company's performance moving forward.

Kornitzer Capital Management Inc. KS grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 410,813 shares of the company's stock after buying an additional 16,166 shares during the period. PepsiCo accounts for 1.1% of Kornitzer Capital Management Inc. KS's portfolio, making the stock its 18th biggest holding. Kornitzer Capital Management Inc. KS's holdings in PepsiCo were worth $54,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its position in shares of PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after purchasing an additional 6,574 shares during the last quarter. GAMMA Investing LLC increased its position in shares of PepsiCo by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 30,603 shares of the company's stock valued at $4,589,000 after purchasing an additional 6,712 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of PepsiCo by 3.6% during the 1st quarter. Perigon Wealth Management LLC now owns 37,716 shares of the company's stock valued at $5,655,000 after purchasing an additional 1,325 shares during the last quarter. Falcon Wealth Planning increased its position in shares of PepsiCo by 92.5% during the 1st quarter. Falcon Wealth Planning now owns 4,305 shares of the company's stock valued at $646,000 after purchasing an additional 2,069 shares during the last quarter. Finally, Stone Summit Wealth LLC increased its position in shares of PepsiCo by 4.4% during the 1st quarter. Stone Summit Wealth LLC now owns 26,292 shares of the company's stock valued at $3,942,000 after purchasing an additional 1,111 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Cowen restated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Piper Sandler increased their price objective on PepsiCo from $160.00 to $162.00 and gave the company an "overweight" rating in a report on Friday, October 10th. Rothschild & Co Redburn raised their target price on PepsiCo from $115.00 to $117.00 and gave the stock a "sell" rating in a report on Monday, October 13th. BNP Paribas Exane decreased their target price on PepsiCo from $152.00 to $150.00 and set a "neutral" rating on the stock in a research report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $156.95.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded up $0.04 during trading on Friday, hitting $151.55. 3,578,600 shares of the stock were exchanged, compared to its average volume of 7,695,079. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $174.00. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The company has a fifty day moving average price of $145.97 and a two-hundred day moving average price of $139.62. The company has a market cap of $207.22 billion, a PE ratio of 28.81, a P/E/G ratio of 3.69 and a beta of 0.46.

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