PepsiCo, Inc. $PEP Stake Reduced by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN has reduced its stake in PepsiCo, Inc. by 5.2%, resulting in ownership of 64,901 shares valued at approximately $8.57 million as of their latest SEC filing.
• PepsiCo's recent earnings surpass expectations, reporting $2.12 EPS and revenue of $22.73 billion, with a net margin of 8.23% and a year-over-year revenue increase of 1.0%.
• The company declared a quarterly dividend of $1.4225 per share, representing an annualized dividend of $5.69 and a dividend yield of 4.0%.

OLD National Bancorp IN trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 5.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 64,901 shares of the company's stock after selling 3,540 shares during the quarter. OLD National Bancorp IN's holdings in PepsiCo were worth $8,570,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in PepsiCo during the 1st quarter worth $946,978,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of PepsiCo during the second quarter valued at about $460,110,000. Assenagon Asset Management S.A. lifted its holdings in PepsiCo by 106.1% in the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after purchasing an additional 1,809,391 shares during the period. Vanguard Group Inc. grew its position in PepsiCo by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock valued at $20,268,027,000 after buying an additional 1,802,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 worth $3,969,698,000 after buying an additional 1,258,198 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley increased 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. Cowen reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. UBS Group lowered their target price on PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, PepsiCo has a consensus rating of "Hold" and a consensus price target of $157.87.

PepsiCo Trading Down 0.2%

Shares of PEP opened at $141.98 on Monday. 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, Inc. has a 1-year low of $127.60 and a 1-year high of $177.50. The stock has a market capitalization of $194.38 billion, a P/E ratio of 25.86, a P/E/G ratio of 3.58 and a beta of 0.46. The business's 50-day moving average price is $144.36 and its 200 day moving average price is $139.34.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company posted $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were issued a dividend of $1.4225 per share. The ex-dividend date was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.0%. PepsiCo's 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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