PepsiCo, Inc. $PEP Position Trimmed by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC reduced its stake in PepsiCo by 1.8%, selling 7,501 shares during the first quarter, leaving it with 403,583 shares valued at approximately $60.5 million.
• PepsiCo's quarterly revenue increased 1.0% year-over-year to $22.73 billion, with earnings per share reported at $2.12, exceeding predictions of $2.03.
• The company recently declared a quarterly dividend of $1.4225, resulting in an annualized dividend yield of 3.8%, and has set its FY 2025 earnings guidance at 8.038 EPS.

MetLife Investment Management LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 403,583 shares of the company's stock after selling 7,501 shares during the period. MetLife Investment Management LLC's holdings in PepsiCo were worth $60,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Oak Harvest Investment Services lifted its holdings in shares of PepsiCo by 3.7% in the first quarter. Oak Harvest Investment Services now owns 41,421 shares of the company's stock valued at $6,211,000 after purchasing an additional 1,489 shares in the last quarter. ICONIQ Capital LLC lifted its holdings in shares of PepsiCo by 379.1% during the 1st quarter. ICONIQ Capital LLC now owns 7,359 shares of the company's stock worth $1,103,000 after acquiring an additional 5,823 shares during the period. Campbell & CO Investment Adviser LLC lifted its holdings in shares of PepsiCo by 304.1% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 27,922 shares of the company's stock worth $4,187,000 after acquiring an additional 21,012 shares during the period. Southeast Asset Advisors LLC grew its holdings in shares of PepsiCo by 93.6% during the 1st quarter. Southeast Asset Advisors LLC now owns 5,225 shares of the company's stock worth $783,000 after purchasing an additional 2,526 shares during the period. Finally, AIMZ Investment Advisors LLC grew its holdings in shares of PepsiCo by 1.6% during the 1st quarter. AIMZ Investment Advisors LLC now owns 13,031 shares of the company's stock worth $1,954,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Price Performance

Shares of PEP traded down $1.20 during mid-day trading on Tuesday, hitting $147.00. The company's stock had a trading volume of 11,207,315 shares, compared to its average volume of 7,658,064. The firm has a 50-day moving average price of $140.01 and a 200 day moving average price of $140.66. The stock has a market capitalization of $201.25 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 3.95 and a beta of 0.45. 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, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. PepsiCo's payout ratio is currently 103.64%.

Analysts Set New Price Targets

Several brokerages recently commented on PEP. Royal Bank Of Canada reiterated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. Bank of America lowered their price objective on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Cowen reissued a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Four equities 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, PepsiCo has a consensus rating of "Hold" and a consensus price target of $158.73.

About PepsiCo

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.