Public Employees Retirement System of Ohio Sells 7,978 Shares of PepsiCo, Inc. $PEP

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in PepsiCo, Inc. by 1.4%, selling 7,978 shares, resulting in ownership of 560,483 shares valued at $74 million.
• PepsiCo exceeded earnings expectations with $2.12 earnings per share, surpassing analyst estimates of $2.03, and reported revenue of $22.73 billion.
• The company declared a quarterly dividend of $1.4225 per share, with a yield of 4.0%, scheduled for payment on September 30th.

Public Employees Retirement System of Ohio lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 560,483 shares of the company's stock after selling 7,978 shares during the period. Public Employees Retirement System of Ohio's holdings in PepsiCo were worth $74,006,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PEP. Legacy Financial Group LLC lifted its position in PepsiCo by 4.9% in the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock valued at $227,000 after purchasing an additional 71 shares during the last quarter. Centurion Wealth Management LLC raised its holdings in PepsiCo by 3.8% during the 2nd quarter. Centurion Wealth Management LLC now owns 2,068 shares of the company's stock valued at $273,000 after buying an additional 75 shares during the last quarter. SK Wealth Management LLC boosted its position in PepsiCo by 3.3% during the 2nd quarter. SK Wealth Management LLC now owns 2,375 shares of the company's stock valued at $319,000 after buying an additional 75 shares during the period. Pflug Koory LLC increased its position in shares of PepsiCo by 1.0% in the first quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock valued at $1,162,000 after acquiring an additional 76 shares during the period. Finally, Hoge Financial Services LLC raised its stake in shares of PepsiCo by 2.1% during the first quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock valued at $545,000 after acquiring an additional 76 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

NASDAQ PEP opened at $141.90 on Wednesday. The business has a 50-day moving average price of $144.66 and a 200-day moving average price of $139.89. The firm has a market cap of $194.27 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 3.56 and a beta of 0.46. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $177.50. 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 issued its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The firm had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. PepsiCo's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed 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 is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 4.0%. PepsiCo's dividend payout ratio (DPR) is 103.64%.

Analyst Ratings Changes

Several research firms recently issued reports on PEP. Citigroup raised their target price on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Cowen restated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Morgan Stanley lifted their price objective on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company raised their target price on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $158.60.

PepsiCo Profile

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.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.