Mechanics Bank Trust Department Reduces Stock Position in PepsiCo, Inc. $PEP

Key Points

• Mechanics Bank Trust Department has reduced its stock holdings in PepsiCo, Inc. by 13.2%, now owning 27,203 shares worth approximately $3.59 million.
• PepsiCo's recent earnings report showed $2.12 EPS, surpassing analyst estimates, along with a revenue of $22.73 billion.
• The company also announced a quarterly dividend of $1.4225 per share, resulting in a 4.0% yield, with a payout ratio of 103.64%.

Mechanics Bank Trust Department reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,203 shares of the company's stock after selling 4,145 shares during the period. Mechanics Bank Trust Department's holdings in PepsiCo were worth $3,592,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PEP. Nova Wealth Management Inc. acquired a new position in PepsiCo during the first quarter worth about $25,000. Elite Financial Inc. acquired a new stake in shares of PepsiCo in the first quarter valued at approximately $28,000. MorganRosel Wealth Management LLC purchased a new position in PepsiCo during the first quarter worth approximately $55,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in PepsiCo in the 1st quarter valued at $58,000. Finally, Greykasell Wealth Strategies Inc. purchased a new position in PepsiCo during the first quarter worth about $58,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Morgan Stanley lifted 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. Bank of America decreased their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Cowen reiterated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Barclays lifted their price objective on shares of PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $158.60.

PepsiCo Stock Performance

Shares of PEP stock traded down $0.73 during midday trading on Monday, hitting $141.03. The company had a trading volume of 5,795,948 shares, compared to its average volume of 8,054,161. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $177.50. 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's 50 day simple moving average is $144.50 and its 200 day simple moving average is $139.87. The stock has a market cap of $193.08 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.58 and a beta of 0.46.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $2.12 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 analysts' expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business 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 4.0%. PepsiCo's dividend payout ratio (DPR) is 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.