Parsons Capital Management Inc. RI Sells 2,697 Shares of PepsiCo, Inc. $PEP

Key Points

• Parsons Capital Management Inc. RI reduced its stake in PepsiCo by 6.2% in the second quarter, selling 2,697 shares and now holding 40,887 shares worth approximately $5.4 million.
• PepsiCo reported a quarterly earnings per share of $2.12, exceeding analyst expectations of $2.03, with a revenue of $22.73 billion for the quarter.
• The company announced a quarterly dividend of $1.4225 per share, yielding 4.0%, with a dividend payout ratio of 103.64%.

Parsons Capital Management Inc. RI decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,887 shares of the company's stock after selling 2,697 shares during the period. Parsons Capital Management Inc. RI's holdings in PepsiCo were worth $5,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Nova Wealth Management Inc. bought a new position in PepsiCo in the 1st quarter worth $25,000. Elite Financial Inc. bought a new position in shares of PepsiCo during the 1st quarter valued at about $28,000. Legend Financial Advisors Inc. bought a new position in shares of PepsiCo during the 2nd quarter valued at about $29,000. Investment Research & Advisory Group Inc. boosted its holdings in shares of PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company's stock valued at $42,000 after purchasing an additional 232 shares during the last quarter. Finally, MorganRosel Wealth Management LLC bought a new position in shares of PepsiCo during the 1st quarter valued at about $55,000. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Up 1.9%

Shares of NASDAQ PEP opened at $143.14 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $177.50. The stock has a market capitalization of $195.97 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 3.54 and a beta of 0.46. The firm's 50-day moving average price is $144.43 and its 200-day moving average price is $139.56.

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. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the prior year, the company posted $2.28 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, September 5th. PepsiCo's dividend payout ratio is 103.64%.

Analyst Ratings Changes

Several research analysts have commented on PEP shares. Royal Bank Of Canada dropped their price objective on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating for the company in a report on Monday, September 15th. Citigroup dropped their price objective on shares of PepsiCo from $168.00 to $165.00 and set a "buy" rating for the company in a report on Thursday, September 25th. Morgan Stanley increased their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Finally, Wells Fargo & Company decreased their target price on shares of PepsiCo from $154.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $158.13.

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.

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