PepsiCo, Inc. $PEP Position Lessened by CX Institutional

Key Points

• CX Institutional reduced its position in PepsiCo by 3.6% in the second quarter, holding 68,307 shares valued at approximately $9.01 million.
• PepsiCo reported strong quarterly earnings, with an EPS of $2.12, surpassing estimates and a revenue of $22.73 billion, up 1% year-over-year.
• The company declared a quarterly dividend of $1.4225 per share, set to pay on September 30th, reflecting a 4.1% annual yield.

CX Institutional trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,307 shares of the company's stock after selling 2,539 shares during the period. CX Institutional's holdings in PepsiCo were worth $9,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PEP. Brighton Jones LLC raised its holdings in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after buying an additional 6,574 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in PepsiCo during the fourth quarter valued at about $333,000. MassMutual Private Wealth & Trust FSB raised its holdings in PepsiCo by 6.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 217,985 shares of the company's stock valued at $32,685,000 after buying an additional 13,475 shares in the last quarter. Jacobs & Co. CA raised its holdings in PepsiCo by 1.3% during the first quarter. Jacobs & Co. CA now owns 88,042 shares of the company's stock valued at $13,201,000 after buying an additional 1,098 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in PepsiCo by 52.8% during the first quarter. Versant Capital Management Inc now owns 6,604 shares of the company's stock valued at $990,000 after buying an additional 2,281 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 1.6%

Shares of PEP opened at $139.92 on Friday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $177.50. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $191.56 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.59 and a beta of 0.46. The stock's 50-day moving average price is $144.68 and its 200 day moving average price is $139.79.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The firm had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the company posted $2.28 earnings per share. The company's quarterly revenue was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, September 5th. PepsiCo's payout ratio is currently 103.64%.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent research reports. Barclays raised their target price on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Cowen reiterated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Morgan Stanley lifted their price objective on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Bank of America dropped their price objective on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Finally, Citigroup dropped their price objective on PepsiCo from $168.00 to $165.00 and set a "buy" rating on the stock in a research note on Thursday. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $158.13.

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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