Lummis Asset Management LP Lowers Position in PepsiCo, Inc. $PEP

Key Points

• Lummis Asset Management cut its PepsiCo position by 43.9% in the second quarter, selling 7,545 shares and retaining 9,647 shares valued at approximately $1.31 million. Institutional investors overall own 73.07% of PepsiCo.
• PepsiCo reported quarterly earnings of $2.20 per share and revenue of $24.18 billion, exceeding analyst estimates, while revenue increased 6.4% year over year. The company maintained fiscal 2026 EPS guidance of $8.55–$8.71.
• PepsiCo declared a quarterly dividend of $1.48 per share, equivalent to an annualized $5.92 and a 4.2% yield. Analysts have a consensus “Hold” rating and an average price target of $157.90.

Lummis Asset Management LP trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 43.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,647 shares of the company's stock after selling 7,545 shares during the quarter. Lummis Asset Management LP's holdings in PepsiCo were worth $1,306,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in PepsiCo by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company's stock valued at $19,875,205,000 after purchasing an additional 1,612,652 shares in the last quarter. State Street Corp increased its holdings in shares of PepsiCo by 1.8% in the 3rd quarter. State Street Corp now owns 59,499,819 shares of the company's stock worth $8,356,155,000 after buying an additional 1,079,970 shares during the last quarter. Auto Owners Insurance Co raised its position in shares of PepsiCo by 14,857.8% during the 4th quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company's stock valued at $7,068,777,000 after buying an additional 48,923,629 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of PepsiCo by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company's stock worth $4,814,835,000 after acquiring an additional 360,936 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PepsiCo by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,090,426 shares of the company's stock worth $4,031,646,000 after acquiring an additional 295,955 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP David Flavell sold 2,900 shares of the firm's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $139.54, for a total value of $404,666.00. Following the completion of the sale, the executive vice president directly owned 74,825 shares of the company's stock, valued at approximately $10,441,080.50. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.12% of the company's stock.

PepsiCo Trading Up 1.7%

PEP opened at $142.58 on Thursday. PepsiCo, Inc. has a one year low of $133.73 and a one year high of $171.48. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.93 and a quick ratio of 0.74. The business has a 50 day simple moving average of $140.07 and a two-hundred day simple moving average of $150.43. The firm has a market capitalization of $194.61 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 3.08 and a beta of 0.35.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, July 9th. The company reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.19 by $0.01. The firm had revenue of $24.18 billion for the quarter, compared to analyst estimates of $23.95 billion. PepsiCo had a return on equity of 54.63% and a net margin of 10.78%.The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. Analysts predict that PepsiCo, Inc. will post 8.57 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, September 4th. PepsiCo's payout ratio is presently 77.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America lowered their price target on PepsiCo from $173.00 to $164.00 and set a "neutral" rating on the stock in a research report on Thursday, June 25th. BNP Paribas Exane reduced their price objective on PepsiCo from $195.00 to $183.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings reissued a "hold (c)" rating on shares of PepsiCo in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft set a $155.00 target price on PepsiCo in a research report on Friday, July 10th. Finally, Barclays increased their price target on shares of PepsiCo from $138.00 to $142.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $157.90.

About PepsiCo

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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