Panagora Asset Management Inc. Sells 10,561 Shares of PepsiCo, Inc. $PEP

Key Points

• Panagora Asset Management Inc. has reduced its stake in PepsiCo, Inc. by 3.0%, ending the first quarter with 343,144 shares valued at approximately $51.45 million.
• PepsiCo reported a quarterly earnings per share (EPS) of $2.12, exceeding analyst expectations of $2.03, with revenues of $22.73 billion, slightly above consensus estimates.
• The company declared a quarterly dividend of $1.4225 per share, translating to an annualized yield of 3.8%, with a payout ratio of 103.64%.

Panagora Asset Management Inc. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 343,144 shares of the company's stock after selling 10,561 shares during the quarter. Panagora Asset Management Inc.'s holdings in PepsiCo were worth $51,451,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Elite Financial Inc. acquired a new position in shares of PepsiCo in the first quarter worth approximately $28,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo in the fourth quarter worth approximately $31,000. Sunbeam Capital Management LLC acquired a new position in shares of PepsiCo in the fourth quarter worth approximately $47,000. MorganRosel Wealth Management LLC acquired a new position in shares of PepsiCo in the first quarter worth approximately $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of PepsiCo in the first quarter worth approximately $58,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on PEP. Barclays lifted their price objective on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Cowen reiterated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Wells Fargo & Company lifted their target price on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Morgan Stanley lifted their target price on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. lowered their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Four 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, the company presently has a consensus rating of "Hold" and an average price target of $158.73.

PepsiCo Stock Up 1.1%

Shares of NASDAQ PEP traded up $1.67 during midday trading on Monday, hitting $148.65. 7,757,444 shares of the stock traded hands, compared to its average volume of 7,707,316. The company has a market cap of $203.51 billion, a PE ratio of 27.08, a P/E/G ratio of 3.96 and a beta of 0.46. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $179.73. The business has a 50 day moving average price of $141.52 and a two-hundred day moving average price of $140.74. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78.

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 firm had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The company's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

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