Hancock Whitney Corp Reduces Stock Position in PepsiCo, Inc. $PEP

Key Points

• Hancock Whitney Corp reduced its stake in PepsiCo, Inc. by 24.5%, selling 8,879 shares and holding a total of 27,371 shares worth approximately $4.1 million at the end of the last quarter.
• PepsiCo reported a Q2 EPS of $2.12, exceeding estimates, with quarterly revenue of $22.73 billion, which shows a 1% year-over-year increase.
• The company announced a quarterly dividend of $1.4225 per share, with a 3.9% yield, while its payout ratio stands at 103.64%.

Hancock Whitney Corp lowered its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 24.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 27,371 shares of the company's stock after selling 8,879 shares during the period. Hancock Whitney Corp's holdings in PepsiCo were worth $4,104,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Elite Financial Inc. acquired a new position in shares of PepsiCo during the 1st quarter worth approximately $28,000. Measured Risk Portfolios Inc. acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $31,000. Sunbeam Capital Management LLC acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $47,000. MorganRosel Wealth Management LLC acquired a new stake in shares of PepsiCo during the 1st quarter worth approximately $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of PepsiCo during the 1st quarter worth approximately $58,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Analyst Ratings Changes

PEP has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Morgan Stanley lifted their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Bank of America lowered their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Finally, Citigroup upped their target price on shares of PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Four investment 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.com, the company currently has an average rating of "Hold" and an average target price of $158.60.

PepsiCo Trading Down 0.3%

Shares of PepsiCo stock traded down $0.50 during trading on Friday, reaching $146.39. The company's stock had a trading volume of 7,185,531 shares, compared to its average volume of 8,131,284. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $179.43. The company has a market cap of $200.42 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 3.70 and a beta of 0.46. The firm's 50-day moving average is $143.00 and its two-hundred day moving average is $140.81. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the prior year, the company earned $2.28 EPS. The firm's revenue was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 3.9%. PepsiCo's dividend payout ratio is presently 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.