PepsiCo, Inc. $PEP Shares Sold by Principle Wealth Partners LLC

Key Points

• Principle Wealth Partners LLC has reduced its holdings in PepsiCo, Inc. by 27.8%, now owning 21,161 shares worth approximately $2.79 million.
• PepsiCo reported earnings of $2.29 per share for the last quarter, surpassing analysts' expectations of $2.26 and achieving revenues of $23.94 billion.
• Currently, PepsiCo's stock has a consensus rating of "Hold" from analysts, with a price target averaging around $156.58.

Principle Wealth Partners LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 27.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,161 shares of the company's stock after selling 8,159 shares during the quarter. Principle Wealth Partners LLC's holdings in PepsiCo were worth $2,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Nuveen LLC acquired a new position in shares of PepsiCo during the 1st quarter valued at about $946,978,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of PepsiCo during the 2nd quarter valued at about $460,110,000. Vanguard Group Inc. boosted its position in shares of PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock valued at $20,268,027,000 after acquiring an additional 1,802,748 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of PepsiCo by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company's stock valued at $3,969,698,000 after acquiring an additional 1,258,198 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of PepsiCo by 14.3% during the 1st quarter. Deutsche Bank AG now owns 9,296,022 shares of the company's stock valued at $1,393,846,000 after acquiring an additional 1,165,745 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Down 0.1%

Shares of NASDAQ:PEP opened at $153.03 on Thursday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The firm has a market capitalization of $209.24 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 3.73 and a beta of 0.46. The firm's 50-day moving average is $145.89 and its two-hundred day moving average is $139.49. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $174.00.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion for 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%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent research reports. HSBC boosted their price target on shares of PepsiCo from $145.00 to $152.00 and gave the company a "hold" rating in a research report on Friday, October 10th. UBS Group reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Royal Bank Of Canada reduced their price objective on shares of PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a report on Monday, September 15th. Cowen restated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Rothschild & Co Redburn boosted their price objective on shares of PepsiCo from $115.00 to $117.00 and gave the company a "sell" rating in a report on Monday, October 13th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $156.58.

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.

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.