PepsiCo, Inc. $PEP Shares Sold by AMI Asset Management Corp

Key Points

• AMI Asset Management Corp reduced its holdings in PepsiCo, Inc. by 97.7%, selling 266,242 shares and now owns only 6,313 shares valued at $834,000.
• PepsiCo reported earnings of $2.12 per share, exceeding estimates, with a revenue of $22.73 billion for the quarter, up 1% year-over-year.
• The company declared a quarterly dividend of $1.4225 per share, representing an annualized yield of 4.0% with a payout ratio of 103.64%.

AMI Asset Management Corp cut its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 97.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,313 shares of the company's stock after selling 266,242 shares during the period. AMI Asset Management Corp's holdings in PepsiCo were worth $834,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Dogwood Wealth Management LLC raised its holdings in PepsiCo by 15.4% in the 2nd quarter. Dogwood Wealth Management LLC now owns 539 shares of the company's stock worth $73,000 after acquiring an additional 72 shares during the period. Centurion Wealth Management LLC raised its holdings in PepsiCo by 3.8% in the 2nd quarter. Centurion Wealth Management LLC now owns 2,068 shares of the company's stock worth $273,000 after acquiring an additional 75 shares during the period. SK Wealth Management LLC raised its holdings in PepsiCo by 3.3% in the 2nd quarter. SK Wealth Management LLC now owns 2,375 shares of the company's stock worth $319,000 after acquiring an additional 75 shares during the period. Pflug Koory LLC raised its holdings in PepsiCo by 1.0% in the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock worth $1,162,000 after acquiring an additional 76 shares during the period. Finally, Hoge Financial Services LLC increased its holdings in shares of PepsiCo by 2.1% during the 1st quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock worth $545,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PEP. Cowen restated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Bank of America dropped their price objective on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Morgan Stanley boosted their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Four investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $158.13.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $143.14 on Thursday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The firm's 50-day simple moving average is $144.43 and its 200-day simple moving average is $139.56. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $177.50. The firm has a market cap of $195.97 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 3.54 and a beta of 0.46.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued 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 business had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were given a $1.4225 dividend. The ex-dividend date was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. 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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