PepsiCo, Inc. $PEP Shares Sold by Patten & Patten Inc. TN

Key Points

• Patten & Patten Inc. TN reduced its stake in PepsiCo by 3.9%, selling 2,200 shares, bringing its total holdings to 53,787 shares worth approximately $7.1 million.
• HSBC and Royal Bank of Canada have recently adjusted their price targets for PepsiCo, with HSBC raising it to $152.00 and RBC lowering it to $145.00.
• PepsiCo reported a 2.7% increase in revenue year-over-year, with earnings per share of $2.29, surpassing analysts' expectations.

Patten & Patten Inc. TN lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,787 shares of the company's stock after selling 2,200 shares during the quarter. Patten & Patten Inc. TN's holdings in PepsiCo were worth $7,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new stake in PepsiCo during the first quarter worth approximately $25,000. Elite Financial Inc. acquired a new stake in PepsiCo during the first quarter worth approximately $28,000. Legend Financial Advisors Inc. acquired a new stake in PepsiCo during the second quarter worth approximately $29,000. Frazier Financial Advisors LLC raised its holdings in PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company's stock worth $35,000 after purchasing an additional 122 shares in the last quarter. Finally, RMG Wealth Management LLC acquired a new stake in PepsiCo during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. HSBC raised their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the stock a "hold" rating in a research report on Friday, October 10th. Royal Bank Of Canada lowered their price objective on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research report on Monday, September 15th. Rothschild & Co Redburn raised their price objective on shares of PepsiCo from $115.00 to $117.00 and gave the stock a "sell" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Finally, UBS Group lowered their price objective on shares of PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $156.00.

PepsiCo Stock Performance

Shares of PEP opened at $151.16 on Thursday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock has a market capitalization of $206.69 billion, a P/E ratio of 28.74, a P/E/G ratio of 3.69 and a beta of 0.46. The company's fifty day moving average is $145.17 and its two-hundred day moving average is $139.35. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $177.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, September 5th. PepsiCo's payout ratio is presently 108.17%.

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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