PepsiCo, Inc. $PEP Position Boosted by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its stake in PepsiCo by 14.7% in the second quarter, owning 93,053 shares valued at approximately $12.3 million.
• Wall Street analysts are generally optimistic, with several firms adjusting their price targets upward, giving PepsiCo a consensus price target of $156.58 and a majority rating of "Hold."
• PepsiCo reported earnings of $2.29 per share for the recent quarter, surpassing estimates and showing a 2.7% increase in revenue year-over-year.

First Citizens Bank & Trust Co. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,053 shares of the company's stock after acquiring an additional 11,945 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in PepsiCo were worth $12,287,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PEP. Nova Wealth Management Inc. bought a new stake in PepsiCo in the first quarter worth approximately $25,000. Elite Financial Inc. acquired a new stake in shares of PepsiCo in the first quarter worth $28,000. Legend Financial Advisors Inc. bought a new stake in shares of PepsiCo in the second quarter valued at about $29,000. Frazier Financial Advisors LLC lifted its position in shares of PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company's stock worth $35,000 after buying an additional 122 shares during the period. Finally, RMG Wealth Management LLC acquired a new stake in shares of PepsiCo during the 2nd quarter worth about $45,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Jefferies Financial Group lifted their price target on PepsiCo from $161.00 to $163.00 and gave the company a "hold" rating in a report on Friday, October 10th. HSBC increased their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the stock a "hold" rating in a research report on Friday, October 10th. Morgan Stanley increased their target price on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Bank of America upped their price objective on PepsiCo from $150.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. Finally, Wells Fargo & Company increased their price target on shares of PepsiCo from $150.00 to $154.00 and gave the company a "positive" rating in a report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $156.58.

PepsiCo Stock Performance

Shares of PEP opened at $153.25 on Thursday. The stock has a 50-day moving average price of $145.89 and a 200-day moving average price of $139.49. The company has a market cap of $209.54 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 3.73 and a beta of 0.46. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $174.00.

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

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.

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