PepsiCo, Inc. $PEP Shares Sold by Morris Financial Concepts Inc.

Key Points

• Morris Financial Concepts Inc. has reduced its stake in PepsiCo by 44%, holding 2,719 shares valued at $359,000 by the end of the last reporting period.
• PepsiCo's stock has been active in analyst ratings, with targets ranging from $151.00 to $170.00 and an average rating of "Hold".
• In its recent earnings report, PepsiCo exceeded analysts' EPS estimates with $2.29 per share, and its revenue increased by 2.7% year-over-year, totaling $23.94 billion.

Morris Financial Concepts Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 44.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,719 shares of the company's stock after selling 2,138 shares during the period. Morris Financial Concepts Inc.'s holdings in PepsiCo were worth $359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. purchased a new stake in PepsiCo during the 1st quarter worth $25,000. Elite Financial Inc. bought a new stake in shares of PepsiCo in the 1st quarter worth about $28,000. Legend Financial Advisors Inc. bought a new stake in shares of PepsiCo in the 2nd quarter worth about $29,000. Frazier Financial Advisors LLC increased its position in shares of PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company's stock worth $35,000 after purchasing an additional 122 shares during the last quarter. Finally, RMG Wealth Management LLC bought a new stake in shares of PepsiCo in the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $157.00 to $151.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. Citigroup lowered their price objective on shares of PepsiCo from $168.00 to $165.00 and set a "buy" rating for the company in a research report on Thursday, September 25th. UBS Group lowered their price objective on shares of PepsiCo from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Finally, Jefferies Financial Group boosted their price objective on shares of PepsiCo from $161.00 to $163.00 and gave the company a "hold" rating in a research report on Friday, October 10th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $156.00.

PepsiCo Trading Up 1.8%

PepsiCo stock opened at $151.54 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The firm has a 50-day moving average price of $144.96 and a two-hundred day moving average price of $139.27. The firm has a market capitalization of $207.21 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 3.62 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 posted its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. PepsiCo's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, September 5th. PepsiCo's dividend payout ratio is currently 108.17%.

PepsiCo 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.

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