Baird Financial Group Inc. Sells 282,918 Shares of PepsiCo, Inc. $PEP

Key Points

• Baird Financial Group Inc. reduced its holdings in PepsiCo, Inc. by 22.8% during the first quarter, ending with approximately 958,867 shares valued at $143.77 million.
• PepsiCo reported a quarterly earnings per share of $2.12, exceeding analyst estimates of $2.03, and a revenue of $22.73 billion, which indicates a year-over-year growth of 1.0%.
• The company declared a quarterly dividend of $1.4225 per share, resulting in an annualized dividend yield of 3.8%, though its payout ratio is at 103.64%.

Baird Financial Group Inc. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 22.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 958,867 shares of the company's stock after selling 282,918 shares during the quarter. Baird Financial Group Inc. owned approximately 0.07% of PepsiCo worth $143,773,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PEP. Nuveen LLC bought a new position in shares of PepsiCo during the 1st quarter valued at about $946,978,000. GAMMA Investing LLC increased its position in shares of PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after purchasing an additional 4,564,723 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock valued at $527,034,000 after purchasing an additional 1,809,391 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of PepsiCo by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock valued at $20,268,027,000 after acquiring an additional 1,802,748 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of PepsiCo in the 4th quarter valued at about $221,297,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PEP has been the topic of a number of analyst reports. Barclays lifted their price target on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Bank of America lowered their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Finally, Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $158.73.

PepsiCo Trading Up 1.1%

NASDAQ:PEP traded up $1.67 during mid-day trading on Monday, reaching $148.65. 7,757,444 shares of the company's stock traded hands, compared to its average volume of 7,707,316. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $179.73. The firm has a market capitalization of $203.51 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 3.96 and a beta of 0.46. 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 company has a 50 day moving average price of $141.52 and a 200-day moving average price of $140.74.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The company had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the previous year, the business earned $2.28 EPS. PepsiCo's revenue was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo's dividend payout ratio is currently 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.