PepsiCo, Inc. $PEP Shares Sold by Penobscot Investment Management Company Inc.

Key Points

• Penobscot Investment Management reduced its stake in PepsiCo by 4.3%, owning 49,487 shares valued at approximately $6.53 million after selling 2,221 shares in the second quarter.
• PepsiCo reported earnings of $2.12 per share for the latest quarter, exceeding estimates, with revenue of $22.73 billion, marking a 1% year-over-year increase.
• The company announced a quarterly dividend of $1.4225 per share, resulting in an annual yield of 4.0%, with a current payout ratio of 103.64%.

Penobscot Investment Management Company Inc. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,487 shares of the company's stock after selling 2,221 shares during the period. Penobscot Investment Management Company Inc.'s holdings in PepsiCo were worth $6,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the first quarter worth $25,000. Elite Financial Inc. purchased a new position in PepsiCo during the 1st quarter worth $28,000. Legend Financial Advisors Inc. acquired a new stake in shares of PepsiCo in the 2nd quarter worth $29,000. Investment Research & Advisory Group Inc. boosted its holdings in shares of PepsiCo by 263.6% in the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company's stock valued at $42,000 after acquiring an additional 232 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of PepsiCo during the first quarter worth about $55,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.2%

NASDAQ:PEP opened at $141.98 on Friday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $177.50. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The stock has a fifty day simple moving average of $144.36 and a 200-day simple moving average of $139.45. The company has a market capitalization of $194.38 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 3.59 and a beta of 0.46.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted 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. The firm had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period 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 expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were paid a $1.4225 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. PepsiCo's dividend payout ratio is presently 103.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PEP shares. Barclays reaffirmed a "cautious" rating on shares of PepsiCo in a report on Friday. Bank of America decreased their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Wells Fargo & Company cut their price objective on PepsiCo from $154.00 to $150.00 and set an "equal weight" rating for the company in a research report on Thursday, September 25th. UBS Group decreased their target price 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. Finally, Citigroup cut their price target on shares of PepsiCo from $168.00 to $165.00 and set a "buy" rating for the company in a report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $157.87.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.