Mitchell Sinkler & Starr PA Has $2.38 Million Stake in PepsiCo, Inc. $PEP

Key Points

• Mitchell Sinkler & Starr PA reduced their stake in PepsiCo, decreasing ownership by 63.2% in the 2nd quarter, resulting in a $2.38 million holding.
• PepsiCo's earnings surpassed estimates with a reported $2.29 EPS for the latest quarter, beating expectations by $0.03, alongside a revenue of $23.94 billion.
• The company recently declared a quarterly dividend of $1.4225 per share, representing a 3.8% dividend yield and a payout ratio of 103.64%.

Mitchell Sinkler & Starr PA decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 63.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,027 shares of the company's stock after selling 30,952 shares during the quarter. PepsiCo comprises approximately 1.1% of Mitchell Sinkler & Starr PA's investment portfolio, making the stock its 25th largest holding. Mitchell Sinkler & Starr PA's holdings in PepsiCo were worth $2,380,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the 1st quarter worth approximately $25,000. Elite Financial Inc. bought a new position in shares of PepsiCo in the 1st quarter worth $28,000. Legend Financial Advisors Inc. bought a new position in shares of PepsiCo in the 2nd quarter worth $29,000. RMG Wealth Management LLC bought a new position in shares of PepsiCo in the 2nd quarter worth $45,000. Finally, Investment Research & Advisory Group Inc. lifted its holdings in shares of PepsiCo by 263.6% in the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company's stock worth $42,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

Analysts Set New Price Targets

PEP has been the topic of a number of recent research reports. Barclays increased their target price on PepsiCo from $140.00 to $142.00 and gave the stock an "equal weight" rating in a report on Friday. Jefferies Financial Group increased their target price on PepsiCo from $161.00 to $163.00 and gave the stock a "hold" rating in a report on Friday. Cowen reiterated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. UBS Group cut their target price on PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Finally, Evercore ISI raised their price objective on PepsiCo from $150.00 to $152.00 in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of "Hold" and an average price target of $158.88.

PepsiCo Trading Up 3.7%

Shares of PepsiCo stock opened at $150.08 on Friday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $177.50. The firm has a market cap of $205.47 billion, a PE ratio of 28.53, a P/E/G ratio of 3.76 and a beta of 0.46. The stock has a fifty day moving average price of $144.53 and a 200-day moving average price of $139.26. 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 earnings per share (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 firm had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same period last year, the firm posted $2.31 EPS. The business's revenue was up 2.7% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were given a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo's dividend payout ratio (DPR) is currently 103.64%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.