PepsiCo, Inc. $PEP Shares Sold by Baker Ellis Asset Management LLC

Key Points

• Baker Ellis Asset Management LLC reduced its holdings in PepsiCo, Inc. by 5.0%, now owning 33,555 shares worth approximately $4.43 million.
• PepsiCo's most recent earnings report revealed $2.12 earnings per share, surpassing expectations with annual revenue up by 1.0% to $22.73 billion.
• The company announced a dividend of $1.4225 per share, resulting in an annual yield of 4.0%, with a payout ratio of 103.64%.

Baker Ellis Asset Management LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,555 shares of the company's stock after selling 1,770 shares during the period. Baker Ellis Asset Management LLC's holdings in PepsiCo were worth $4,431,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PEP. Brighton Jones LLC grew its position in shares of PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after acquiring an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of PepsiCo by 2.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock worth $71,527,000 after acquiring an additional 11,538 shares during the last quarter. Trace Wealth Advisors LLC purchased a new position in shares of PepsiCo during the fourth quarter worth approximately $373,000. Tidal Investments LLC grew its position in PepsiCo by 33.7% in the 4th quarter. Tidal Investments LLC now owns 101,266 shares of the company's stock valued at $15,399,000 after buying an additional 25,547 shares during the last quarter. Finally, Texas Bank & Trust Co purchased a new position in PepsiCo in the 4th quarter valued at $1,204,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.5%

Shares of PEP stock opened at $143.53 on Monday. The firm has a 50-day moving average price of $143.81 and a 200 day moving average price of $140.44. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $179.43. The company has a market capitalization of $196.50 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.63 and a beta of 0.46. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced 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. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the previous year, the company posted $2.28 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $1.4225 dividend. 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 payout ratio is presently 103.64%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PEP. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $146.00 price objective on shares of PepsiCo in a research report on Wednesday, September 3rd. Bank of America lowered their price objective 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. Wells Fargo & Company lifted their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Cowen reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued 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 target price of $158.67.

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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