Assenagon Asset Management S.A. Lowers Stock Position in PepsiCo, Inc. $PEP

Key Points

• Assenagon Asset Management S.A. has reduced its stake in PepsiCo by 10.3%, now holding approximately 3.15 million shares, which accounts for 0.6% of its total holdings.
• Analysts have varied price targets for PepsiCo, with Wells Fargo increasing its target to $154.00 and Morgan Stanley to $165.00, while JPMorgan has cut its target to $139.00.
• PepsiCo announced a quarterly dividend of $1.4225 per share, representing an annualized yield of 4.0%, despite a payout ratio exceeding 100%.

Assenagon Asset Management S.A. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 10.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,153,249 shares of the company's stock after selling 361,716 shares during the period. PepsiCo makes up approximately 0.6% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 29th largest position. Assenagon Asset Management S.A. owned about 0.23% of PepsiCo worth $416,355,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its holdings in shares of PepsiCo by 3.6% during the 1st 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 last quarter. Ignite Planners LLC grew its holdings in shares of PepsiCo by 4.2% during the 1st 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 last quarter. Fulton Bank N.A. grew its holdings in shares of PepsiCo by 2.5% during the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company's stock valued at $3,342,000 after purchasing an additional 620 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of PepsiCo during the 1st quarter valued at approximately $3,633,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in PepsiCo by 2.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 270,938 shares of the company's stock worth $40,624,000 after buying an additional 6,112 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Bank of America cut their target price on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Royal Bank Of Canada cut their target price on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research report on Monday, September 15th. Morgan Stanley lifted their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, Cowen restated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $158.60.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded down $0.16 during midday trading on Tuesday, reaching $140.87. The company had a trading volume of 1,312,328 shares, compared to its average volume of 8,429,107. The company's 50 day moving average price is $144.50 and its 200 day moving average price is $139.87. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The stock has a market cap of $192.86 billion, a P/E ratio of 25.61, a P/E/G ratio of 3.58 and a beta of 0.46. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $177.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS 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 the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company's revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal 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 issued a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 4.0%. PepsiCo's dividend 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.