PepsiCo, Inc. $PEP Shares Purchased by Cove Private Wealth LLC

Key Points

• Cove Private Wealth LLC increased its position in PepsiCo by 26.0% during the 2nd quarter, owning 9,849 shares valued at approximately $1.3 million.
• PepsiCo reported $2.12 EPS for the last quarter, exceeding the consensus estimate of $2.03, with revenues reaching $22.73 billion.
• The company announced a quarterly dividend of $1.4225 per share, resulting in an annualized yield of 4.1%.

Cove Private Wealth LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 26.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,849 shares of the company's stock after purchasing an additional 2,031 shares during the quarter. Cove Private Wealth LLC's holdings in PepsiCo were worth $1,300,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Foster Group Inc. grew its position in shares of PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company's stock valued at $683,000 after purchasing an additional 229 shares during the period. Asset Management One Co. Ltd. grew its position in shares of PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after purchasing an additional 21,859 shares during the period. Ignite Planners LLC grew its position in shares of PepsiCo by 4.2% in the first quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after purchasing an additional 151 shares during the period. Fulton Bank N.A. grew its position in PepsiCo by 2.5% during the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company's stock valued at $3,342,000 after acquiring an additional 620 shares during the period. Finally, Graybill Wealth Management LTD. purchased a new stake in PepsiCo during the first quarter valued at about $3,633,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley boosted their price target on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Citigroup lowered their price target on PepsiCo from $168.00 to $165.00 and set a "buy" rating for the company in a research report on Thursday. Cowen reissued a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. UBS Group lowered their price target on PepsiCo from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Finally, Royal Bank Of Canada decreased their target price on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating for the company in a research report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo has an average rating of "Hold" and a consensus price target of $158.13.

PepsiCo Stock Up 0.4%

PEP opened at $140.44 on Friday. The stock's 50 day moving average price is $144.63 and its 200 day moving average price is $139.71. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The stock has a market cap of $192.27 billion, a P/E ratio of 25.58, a P/E/G ratio of 3.53 and a beta of 0.46. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $177.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The business's revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $2.28 earnings per share. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $1.4225 dividend. 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 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.

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