Meyer Handelman Co. Sells 3,765 Shares of PepsiCo, Inc. $PEP

Key Points

• Meyer Handelman Co. reduced its stake in PepsiCo by 1.6% in the second quarter, selling 3,765 shares and now holding 237,529 shares valued at approximately $31.36 million.
• PepsiCo reported earnings of $2.12 per share for the recent quarter, outpacing analysts' expectations, and set its FY 2025 guidance at $8.038 EPS.
• The company declared a quarterly dividend of $1.4225 per share with a dividend yield of 4.1%, although its payout ratio stands at 103.64%.

Meyer Handelman Co. lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,529 shares of the company's stock after selling 3,765 shares during the quarter. PepsiCo accounts for 1.0% of Meyer Handelman Co.'s investment portfolio, making the stock its 29th largest holding. Meyer Handelman Co.'s holdings in PepsiCo were worth $31,363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of PEP. Legacy Financial Group LLC boosted its position in PepsiCo by 4.9% in the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock worth $227,000 after purchasing an additional 71 shares during the last quarter. Centurion Wealth Management LLC boosted its position in PepsiCo by 3.8% in the second quarter. Centurion Wealth Management LLC now owns 2,068 shares of the company's stock worth $273,000 after purchasing an additional 75 shares during the last quarter. SK Wealth Management LLC boosted its position in PepsiCo by 3.3% in the second quarter. SK Wealth Management LLC now owns 2,375 shares of the company's stock worth $319,000 after purchasing an additional 75 shares during the last quarter. Pflug Koory LLC boosted its position in PepsiCo by 1.0% in the first quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock worth $1,162,000 after purchasing an additional 76 shares during the last quarter. Finally, Hoge Financial Services LLC boosted its position in PepsiCo by 2.1% in the first quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock worth $545,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Morgan Stanley boosted their price objective on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Citigroup dropped their price target on PepsiCo from $168.00 to $165.00 and set a "buy" rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price target on PepsiCo from $154.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada dropped their price target on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research report on Monday, September 15th. Four investment 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, the company presently has an average rating of "Hold" and an average target price of $158.13.

PepsiCo Stock Performance

NASDAQ:PEP opened at $139.92 on Friday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $177.50. The firm has a market cap of $191.56 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.59 and a beta of 0.46. The business's fifty day moving average is $144.68 and its 200 day moving average is $139.79.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio is currently 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.

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