PepsiCo, Inc. $PEP Shares Bought by Kennon Green & Company LLC

Key Points

• Kennon Green & Company LLC increased its holdings in PepsiCo, Inc. by 12.9% in the second quarter, now owning 23,231 shares valued at approximately $3.14 million.
• PepsiCo reported $2.29 earnings per share for the last quarter, surpassing analysts' expectations, with quarterly revenue reaching $23.94 billion, up 2.7% year-over-year.
• The company declared a quarterly dividend of $1.4225 per share, contributing to an annualized dividend yield of 3.8%.

Kennon Green & Company LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,231 shares of the company's stock after acquiring an additional 2,662 shares during the quarter. PepsiCo makes up 2.5% of Kennon Green & Company LLC's investment portfolio, making the stock its 15th biggest holding. Kennon Green & Company LLC's holdings in PepsiCo were worth $3,142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mutual Advisors LLC boosted its holdings in PepsiCo by 37.4% in the second quarter. Mutual Advisors LLC now owns 74,071 shares of the company's stock valued at $10,626,000 after purchasing an additional 20,171 shares in the last quarter. Granite Group Advisors LLC boosted its holdings in shares of PepsiCo by 45.8% in the 2nd quarter. Granite Group Advisors LLC now owns 25,777 shares of the company's stock valued at $3,404,000 after buying an additional 8,097 shares in the last quarter. Triton Wealth Management PLLC purchased a new position in shares of PepsiCo in the 2nd quarter valued at $828,000. Mitchell Mcleod Pugh & Williams Inc. raised its stake in PepsiCo by 4.1% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 11,103 shares of the company's stock worth $1,466,000 after acquiring an additional 442 shares in the last quarter. Finally, JGP Wealth Management LLC lifted its position in PepsiCo by 2.1% in the second quarter. JGP Wealth Management LLC now owns 37,625 shares of the company's stock valued at $4,968,000 after acquiring an additional 789 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $151.54 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The company has a 50-day moving average price of $144.96 and a 200 day moving average price of $139.27. 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 $207.21 billion, a P/E ratio of 28.81, a PEG ratio of 3.62 and a beta of 0.46.

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 analysts' consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same period in the prior year, the business posted $2.31 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were paid a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo's dividend payout ratio is 108.17%.

Analysts Set New Price Targets

PEP has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their target price on PepsiCo from $161.00 to $163.00 and gave the stock a "hold" rating in a research report on Friday, October 10th. Royal Bank Of Canada reduced their price objective on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating for the company in a research note on Monday, September 15th. UBS Group lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. The Goldman Sachs Group upped their price target on shares of PepsiCo from $165.00 to $167.00 and gave the company a "buy" rating in a research report on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Six equities 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 stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of "Hold" and a consensus price target of $156.00.

PepsiCo Company 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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