Matrix Asset Advisors Inc. NY Has $29.11 Million Holdings in PepsiCo, Inc. $PEP

Key Points

• Matrix Asset Advisors Inc. NY increased its stake in PepsiCo by 59.6% in Q2 2023, holding shares worth $29.11 million, which represents 2.9% of its investment portfolio.
• PepsiCo reported an earnings per share of $2.29 for the latest quarter, exceeding the consensus estimate and showing a year-over-year revenue increase of 2.7%.
• The company announced a quarterly dividend of $1.4225, resulting in an annualized dividend yield of 3.8%, though its payout ratio stands at 103.64%.

Matrix Asset Advisors Inc. NY boosted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 59.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,465 shares of the company's stock after purchasing an additional 82,343 shares during the quarter. PepsiCo comprises 2.9% of Matrix Asset Advisors Inc. NY's investment portfolio, making the stock its 11th biggest position. Matrix Asset Advisors Inc. NY's holdings in PepsiCo were worth $29,110,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Nova Wealth Management Inc. acquired a new position in PepsiCo during the first quarter worth about $25,000. Elite Financial Inc. acquired a new position in PepsiCo during the first quarter worth about $28,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo during the second quarter worth about $29,000. Investment Research & Advisory Group Inc. raised its stake in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company's stock worth $42,000 after acquiring an additional 232 shares in the last quarter. Finally, RMG Wealth Management LLC acquired a new position in PepsiCo during the second quarter worth about $45,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Analyst Upgrades and Downgrades

PEP has been the subject of several research analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of PepsiCo in a research note on Saturday, September 27th. Barclays boosted their target price on PepsiCo from $140.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Friday. Cowen restated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Royal Bank Of Canada reduced their price target on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a report on Monday, September 15th. Finally, Citigroup reduced their price target on PepsiCo from $168.00 to $165.00 and set a "buy" rating on the stock in a report on Thursday, September 25th. Five equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat.com, PepsiCo has an average rating of "Hold" and an average price target of $158.88.

PepsiCo Stock Performance

Shares of PEP stock opened at $150.08 on Friday. The business's 50 day simple moving average is $144.53 and its 200 day simple moving average is $139.26. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $177.50. The stock has a market capitalization of $205.47 billion, a PE ratio of 28.53, a PEG ratio of 3.76 and a beta of 0.46. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 58.46% and a net margin of 7.82%.The business had revenue of $23.94 billion for the quarter, compared to analysts' expectations of $23.91 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were issued a $1.4225 dividend. The ex-dividend date was Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 3.8%. PepsiCo's dividend payout ratio is presently 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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