PepsiCo, Inc. $PEP Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC sold 21,318 shares of PepsiCo, reducing its holdings by 10.5% to 181,877 shares, valued at $27.27 million as of the last quarter.
• PepsiCo reported a quarterly EPS of $2.12, surpassing analyst expectations of $2.03, with revenues totaling $22.73 billion, marking a 1.0% increase year-over-year.
• The company declared a quarterly dividend of $1.4225, equating to an annualized dividend of $5.69 and a yield of 3.9%, with a payout ratio currently at 103.64%.

Rafferty Asset Management LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,877 shares of the company's stock after selling 21,318 shares during the period. Rafferty Asset Management LLC's holdings in PepsiCo were worth $27,271,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PEP. Brighton Jones LLC boosted its position in shares of PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after buying an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of PepsiCo by 2.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after buying an additional 11,538 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $669,000. Lido Advisors LLC boosted its position in shares of PepsiCo by 11.4% during the fourth quarter. Lido Advisors LLC now owns 88,779 shares of the company's stock valued at $13,601,000 after buying an additional 9,119 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of PepsiCo by 203.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 40,185 shares of the company's stock valued at $6,111,000 after acquiring an additional 26,935 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. Citigroup lifted their price target on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company lifted 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. Cowen reaffirmed a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Morgan Stanley lifted their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of "Hold" and a consensus price target of $158.73.

PepsiCo Stock Up 1.1%

NASDAQ:PEP traded up $1.67 during trading hours on Friday, reaching $148.65. The company's stock had a trading volume of 7,757,444 shares, compared to its average volume of 7,700,821. The company has a market capitalization of $203.51 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 3.96 and a beta of 0.45. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $179.73. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The stock has a 50 day moving average price of $141.13 and a two-hundred day moving average price of $140.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.8%. 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.