PepsiCo, Inc. $PEP Shares Sold by Summit Global Investments

Key Points

• Summit Global Investments reduced its PepsiCo stake by 35.9% in the second quarter, selling 21,778 shares and retaining 38,932 shares valued at approximately $5.27 million. Institutional investors collectively own 73.07% of PepsiCo.
• Analysts maintain a generally cautious outlook, with seven Buy, twelve Hold, and one Sell rating; the stock has an average rating of Hold and a consensus price target of $157.90.
• PepsiCo reported quarterly earnings of $2.20 per share and revenue of $24.18 billion, both slightly above estimates. The company declared a quarterly dividend of $1.48, equivalent to a $5.92 annualized payout and a 4.2% yield.

Summit Global Investments trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 35.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,932 shares of the company's stock after selling 21,778 shares during the quarter. Summit Global Investments' holdings in PepsiCo were worth $5,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evergreen Advisors LLC acquired a new stake in PepsiCo in the first quarter worth $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of PepsiCo during the fourth quarter valued at $26,000. Swiss RE Ltd. bought a new position in shares of PepsiCo during the fourth quarter worth about $28,000. Networth Advisors LLC increased its holdings in shares of PepsiCo by 2,857.1% in the 1st quarter. Networth Advisors LLC now owns 207 shares of the company's stock worth $32,000 after acquiring an additional 200 shares during the period. Finally, Vermillion Wealth Management Inc. lifted its position in PepsiCo by 99.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 217 shares of the company's stock valued at $34,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on PEP shares. Royal Bank Of Canada decreased their target price on shares of PepsiCo from $163.00 to $161.00 and set a "sector perform" rating for the company in a research report on Friday, July 10th. TD Cowen reduced their price objective on PepsiCo from $150.00 to $145.00 and set a "hold" rating for the company in a research report on Friday, July 10th. BNP Paribas Exane decreased their price objective on PepsiCo from $195.00 to $183.00 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Barclays lifted their target price on PepsiCo from $138.00 to $142.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Finally, Piper Sandler set a $176.00 price target on PepsiCo in a research report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of "Hold" and an average price target of $157.90.

PepsiCo Trading Up 1.7%

Shares of NASDAQ:PEP opened at $142.58 on Thursday. The company has a 50 day moving average of $140.07 and a 200-day moving average of $150.43. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 1.91. The firm has a market cap of $194.61 billion, a P/E ratio of 18.69, a P/E/G ratio of 3.08 and a beta of 0.35. PepsiCo, Inc. has a twelve month low of $133.73 and a twelve month high of $171.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 9th. The company reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $2.19 by $0.01. The business had revenue of $24.18 billion for the quarter, compared to analyst estimates of $23.95 billion. PepsiCo had a net margin of 10.78% and a return on equity of 54.63%. The business's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.92 earnings per share. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 8.57 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.48 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. PepsiCo's dividend payout ratio is 77.59%.

Insider Buying and Selling at PepsiCo

In related news, EVP David Flavell sold 2,900 shares of the firm's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $139.54, for a total transaction of $404,666.00. Following the completion of the transaction, the executive vice president owned 74,825 shares of the company's stock, valued at $10,441,080.50. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.12% of the stock is currently owned by company insiders.

PepsiCo Company Profile

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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