Mutual of America Capital Management LLC Sells 1,971 Shares of PepsiCo, Inc. $PEP

Key Points

• Mutual of America Capital Management LLC reduced its stake in PepsiCo by 1.2% in Q2, now owning 157,291 shares valued at approximately $20.77 million after selling 1,971 shares.
• PepsiCo reported $2.29 earnings per share for the quarter, exceeding estimates, with a revenue of $23.94 billion, reflecting a year-over-year growth of 2.7%.
• The company's recently declared quarterly dividend of $1.4225 per share translates to an annual yield of 3.7%, although the dividend payout ratio stands at 108.17%.

Mutual of America Capital Management LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 157,291 shares of the company's stock after selling 1,971 shares during the period. Mutual of America Capital Management LLC's holdings in PepsiCo were worth $20,769,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PEP. Nova Wealth Management Inc. bought a new stake in shares of PepsiCo during the first quarter worth about $25,000. Elite Financial Inc. acquired a new stake in PepsiCo during the 1st quarter worth approximately $28,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo in the 2nd quarter valued at approximately $29,000. Frazier Financial Advisors LLC raised its stake in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company's stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its holdings in shares of PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company's stock worth $42,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $153.71 on Friday. The firm has a 50 day moving average of $145.51 and a 200-day moving average of $139.33. The company has a market cap of $210.17 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 3.74 and a beta of 0.46. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same period in the prior year, the firm earned $2.31 earnings per share. PepsiCo's revenue was up 2.7% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Friday, September 5th. PepsiCo's dividend payout ratio is 108.17%.

Analyst Ratings Changes

PEP has been the subject of several analyst reports. Rothschild & Co Redburn raised their target price on PepsiCo from $115.00 to $117.00 and gave the stock a "sell" rating in a research report on Monday, October 13th. HSBC increased their price target on PepsiCo from $145.00 to $152.00 and gave the company a "hold" rating in a research note on Friday, October 10th. Bank of America lifted their price objective on PepsiCo from $150.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Barclays increased their target price on shares of PepsiCo from $140.00 to $142.00 and gave the company an "equal weight" rating in a research report on Friday, October 10th. Finally, Royal Bank Of Canada reduced their price objective on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research note on Monday, September 15th. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $156.00.

PepsiCo 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.

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.