PNC Financial Services Group Inc. Cuts Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• PNC Financial Services reduced its PepsiCo stake by 1.5% in Q1, selling 61,101 shares and ending with 3,972,068 shares valued at about $616.8 million.
• Other institutional investors were mixed on PepsiCo, with several increasing holdings, and hedge funds and other institutions now own 73.07% of the company.
• PepsiCo reported better-than-expected quarterly results with EPS of $2.20 and revenue of $24.18 billion, while also declaring a quarterly dividend of $1.48 per share for a 4.4% annualized yield.

PNC Financial Services Group Inc. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,972,068 shares of the company's stock after selling 61,101 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.29% of PepsiCo worth $616,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oslo Pensjonsforsikring AS acquired a new stake in shares of PepsiCo in the first quarter worth approximately $706,000. HORAN Wealth LLC raised its stake in PepsiCo by 94.3% in the 1st quarter. HORAN Wealth LLC now owns 13,340 shares of the company's stock valued at $2,005,000 after purchasing an additional 6,476 shares during the last quarter. DJE Kapital AG lifted its holdings in PepsiCo by 140.1% in the 1st quarter. DJE Kapital AG now owns 96,759 shares of the company's stock valued at $15,166,000 after purchasing an additional 56,459 shares in the last quarter. Andra AP fonden boosted its stake in PepsiCo by 239.5% during the 1st quarter. Andra AP fonden now owns 278,094 shares of the company's stock worth $43,185,000 after purchasing an additional 196,177 shares during the last quarter. Finally, Summit Asset Management LLC boosted its stake in PepsiCo by 1.7% during the 1st quarter. Summit Asset Management LLC now owns 7,059 shares of the company's stock worth $1,096,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group reduced their target price on shares of PepsiCo from $162.00 to $152.00 and set a "hold" rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $178.00 to $170.00 and set an "overweight" rating for the company in a research note on Wednesday, July 1st. Wells Fargo & Company cut their price objective on shares of PepsiCo from $150.00 to $140.00 and set an "equal weight" rating for the company in a report on Friday, July 10th. TD Cowen decreased their target price on shares of PepsiCo from $150.00 to $145.00 and set a "hold" rating on the stock in a research note on Friday, July 10th. Finally, Piper Sandler set a $176.00 target price on PepsiCo in a report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $157.90.

PepsiCo Trading Down 0.3%

Shares of PEP stock opened at $135.00 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 1.91. PepsiCo, Inc. has a twelve month low of $133.95 and a twelve month high of $171.48. The company's 50-day moving average price is $142.91 and its 200-day moving average price is $151.14. The stock has a market cap of $184.26 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.97 and a beta of 0.36.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Thursday, July 9th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.01. PepsiCo had a net margin of 10.78% and a return on equity of 54.63%. The firm had revenue of $24.18 billion during the quarter, compared to analysts' expectations of $23.95 billion. During the same period last year, the business earned $0.92 earnings per share. PepsiCo's revenue was up 6.4% compared to the same quarter last year. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. As a group, equities analysts predict that PepsiCo, Inc. will post 8.58 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a dividend of $1.48 per share. The ex-dividend date is Friday, September 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.4%. 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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