PepsiCo, Inc. $PEP Shares Sold by Sheets Smith Wealth Management

Key Points

• Sheets Smith Wealth Management reduced its holdings in PepsiCo by 3.4% during the second quarter, now owning 55,387 shares valued at approximately $7.3 million.
• PepsiCo reported earnings per share of $2.12 for the recent quarter, surpassing the consensus estimate of $2.03, with revenues of $22.73 billion.
• The company announced a quarterly dividend of $1.4225 per share, equating to a 4.0% yield, with a payout ratio currently at 103.64%.

Sheets Smith Wealth Management lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,387 shares of the company's stock after selling 1,972 shares during the quarter. PepsiCo accounts for 0.9% of Sheets Smith Wealth Management's portfolio, making the stock its 26th largest position. Sheets Smith Wealth Management's holdings in PepsiCo were worth $7,313,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PEP. Foster Group Inc. lifted its holdings in PepsiCo by 4.6% during the 2nd quarter. Foster Group Inc. now owns 5,169 shares of the company's stock worth $683,000 after buying an additional 229 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in PepsiCo by 3.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after acquiring an additional 21,859 shares in the last quarter. Ignite Planners LLC raised its stake in PepsiCo by 4.2% during the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after acquiring an additional 151 shares in the last quarter. Fulton Bank N.A. raised its stake in PepsiCo by 2.5% during the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company's stock valued at $3,342,000 after acquiring an additional 620 shares in the last quarter. Finally, Graybill Wealth Management LTD. acquired a new position in shares of PepsiCo during the 1st quarter valued at $3,633,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEP shares. Cowen reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. UBS Group reduced their price objective on PepsiCo from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Finally, Barclays boosted their price target on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $158.60.

PepsiCo Trading Up 0.6%

PEP stock opened at $141.90 on Wednesday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $177.50. The firm has a market cap of $194.27 billion, a P/E ratio of 25.85, a P/E/G ratio of 3.56 and a beta of 0.46. The business's 50 day moving average is $144.66 and its 200-day moving average is $139.89. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data 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. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The company had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the prior year, the company posted $2.28 EPS. The company's revenue was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio is currently 103.64%.

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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