PepsiCo, Inc. $PEP Stock Position Lessened by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company cut its PepsiCo stake by 2.5% in the first quarter, selling 24,309 shares and retaining 933,384 shares valued at approximately $144.9 million. Institutional investors collectively own 73.07% of PepsiCo.
• Analysts have recently lowered their price targets and ratings, with the stock carrying an overall “Hold” consensus and an average price target of $157.90.
• PepsiCo exceeded quarterly expectations with $2.20 in EPS and $24.18 billion in revenue, while declaring a quarterly dividend of $1.48, equivalent to a 4.1% annualized yield.

The Manufacturers Life Insurance Company reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 933,384 shares of the company's stock after selling 24,309 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of PepsiCo worth $144,945,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PEP. Vanguard Group Inc. raised its position in shares of PepsiCo by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company's stock worth $19,875,205,000 after buying an additional 1,612,652 shares in the last quarter. State Street Corp boosted its holdings in shares of PepsiCo by 1.8% in the third quarter. State Street Corp now owns 59,499,819 shares of the company's stock valued at $8,356,155,000 after acquiring an additional 1,079,970 shares in the last quarter. Auto Owners Insurance Co increased its stake in shares of PepsiCo by 14,857.8% during the fourth quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company's stock valued at $7,068,777,000 after acquiring an additional 48,923,629 shares during the period. Geode Capital Management LLC raised its holdings in PepsiCo by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company's stock worth $4,814,835,000 after purchasing an additional 360,936 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in PepsiCo by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,090,426 shares of the company's stock worth $4,031,646,000 after purchasing an additional 295,955 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have issued reports on PEP. Morgan Stanley decreased their price target on PepsiCo from $180.00 to $160.00 and set an "equal weight" rating for the company in a research note on Friday, July 10th. Citigroup lowered PepsiCo from a "buy" rating to a "neutral" rating and cut their price objective for the company from $170.00 to $145.00 in a report on Friday, July 10th. TD Cowen decreased their target price on PepsiCo from $150.00 to $145.00 and set a "hold" rating for the company in a research note on Friday, July 10th. Wall Street Zen cut shares of PepsiCo from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Finally, Piper Sandler set a $176.00 price target on shares of PepsiCo in a report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $157.90.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $142.86 on Wednesday. The company has a market capitalization of $194.99 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 3.07 and a beta of 0.36. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.74 and a current ratio of 0.93. The stock has a fifty day moving average of $141.78 and a 200-day moving average of $151.05. PepsiCo, Inc. has a one year low of $133.73 and a one year high of $171.48.

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

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.92 dividend on an annualized basis and a yield of 4.1%. PepsiCo's dividend payout ratio (DPR) is currently 77.59%.

About PepsiCo

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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