PepsiCo, Inc. $PEP Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its holdings in PepsiCo by 3.0%, now owning 392,289 shares valued at approximately $58.8 million.
• PepsiCo reported earnings of $2.12 EPS for its last quarter, surpassing expectations, with revenues reaching $22.73 billion.
• The company declared a quarterly dividend of $1.4225, set to be paid on September 30th, which results in an annualized yield of 3.8%.

Corebridge Financial Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 392,289 shares of the company's stock after selling 12,258 shares during the period. Corebridge Financial Inc.'s holdings in PepsiCo were worth $58,820,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Brighton Jones LLC grew its holdings in shares of PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after buying an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings 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 valued at $71,527,000 after buying an additional 11,538 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of PepsiCo during the fourth quarter valued at $669,000. Gerber Kawasaki Wealth & Investment Management grew its holdings in shares of PepsiCo by 12.6% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,972 shares of the company's stock valued at $452,000 after buying an additional 333 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. grew its holdings in shares of PepsiCo by 92.8% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 14,263 shares of the company's stock valued at $2,169,000 after buying an additional 6,865 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEP. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Royal Bank Of Canada restated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a research report on Tuesday, June 24th. Wells Fargo & Company boosted their target price 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. Finally, Morgan Stanley boosted their target price on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $158.73.

PepsiCo Price Performance

PEP traded down $0.66 during trading on Thursday, hitting $146.98. The company's stock had a trading volume of 9,263,777 shares, compared to its average volume of 7,822,051. The firm has a market capitalization of $201.23 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 3.93 and a beta of 0.45. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $179.73. The business's fifty day simple moving average is $140.74 and its 200 day simple moving average is $140.73. 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The firm 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business 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 is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. PepsiCo's dividend payout ratio (DPR) is 103.64%.

PepsiCo Company Profile

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.