Modern Wealth Management LLC Acquires 6,211 Shares of PepsiCo, Inc. $PEP

Key Points

• Modern Wealth Management LLC increased its holdings in PepsiCo, acquiring an additional 6,211 shares, growing their total to 18,193 shares, valued at approximately $2,728,000.
• PepsiCo reported quarterly earnings of $2.12 per share, exceeding expectations, with revenues of $22.73 billion, a 1.0% increase year-over-year.
• The company declared a quarterly dividend of $1.4225 per share, with a yield of 4.0%, despite having a payout ratio of 103.64%.

Modern Wealth Management LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 51.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,193 shares of the company's stock after buying an additional 6,211 shares during the quarter. Modern Wealth Management LLC's holdings in PepsiCo were worth $2,728,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nova Wealth Management Inc. bought a new position in shares of PepsiCo during the first quarter valued at approximately $25,000. Elite Financial Inc. bought a new position in shares of PepsiCo during the first quarter valued at approximately $28,000. Sunbeam Capital Management LLC bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $47,000. MorganRosel Wealth Management LLC bought a new position in PepsiCo in the first quarter worth approximately $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in PepsiCo during the 1st quarter worth $58,000. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Down 0.5%

PepsiCo stock opened at $143.53 on Friday. 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 stock has a market capitalization of $196.50 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.65 and a beta of 0.46. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $179.43. The business has a fifty day moving average price of $143.81 and a 200-day moving average price of $140.60.

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

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. 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 payout ratio is currently 103.64%.

Analyst Ratings Changes

PEP has been the subject of several research reports. Wells Fargo & Company upped their target price on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $146.00 target price on shares of PepsiCo in a report on Wednesday, September 3rd. Cowen reiterated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Barclays upped their target price on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Finally, Bank of America dropped their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $158.67.

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.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

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.