PepsiCo, Inc. $PEP Shares Acquired by Viking Fund Management LLC

Key Points

• Viking Fund Management LLC increased its stake in PepsiCo by 12.6% during the second quarter, owning a total of 125,000 shares valued at approximately $16.5 million.
• PepsiCo reported earnings of $2.12 per share for the latest quarter, exceeding the consensus estimate of $2.03, with a revenue increase of 1.0% year-over-year to $22.73 billion.
• The company announced a quarterly dividend of $1.4225, resulting in an annualized dividend of $5.69 and a yield of 4.0%.

Viking Fund Management LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,000 shares of the company's stock after buying an additional 14,000 shares during the period. PepsiCo makes up approximately 2.3% of Viking Fund Management LLC's portfolio, making the stock its 5th biggest position. Viking Fund Management LLC's holdings in PepsiCo were worth $16,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo during the 1st quarter worth $25,000. Elite Financial Inc. acquired a new stake in PepsiCo in the first quarter valued at $28,000. Sunbeam Capital Management LLC acquired a new stake in PepsiCo in the fourth quarter valued at $47,000. MorganRosel Wealth Management LLC acquired a new stake in PepsiCo in the first quarter valued at $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in PepsiCo in the first quarter valued at $58,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEP. Citigroup upped their price target on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Morgan Stanley upped their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Barclays increased their target price on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $158.60.

PepsiCo Trading Down 0.5%

PEP stock traded down $0.73 during mid-day trading on Monday, reaching $141.03. 5,709,606 shares of the stock traded hands, compared to its average volume of 8,469,076. 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 52-week low of $127.60 and a 52-week high of $177.50. The company has a market cap of $193.08 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.58 and a beta of 0.46. The stock's fifty day moving average is $144.39 and its 200-day moving average is $139.97.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $22.28 billion. During the same period in the prior year, the firm earned $2.28 earnings per share. The business's quarterly revenue was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed 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 is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

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.