RNC Capital Management LLC Buys 245,487 Shares of PepsiCo, Inc. $PEP

Key Points

• RNC Capital Management LLC significantly increased its holdings in PepsiCo, acquiring an additional 245,487 shares, leading to a total of 275,611 shares owned, valued at approximately $41.3 million.
• PepsiCo recently reported a quarterly earnings per share (EPS) of $2.12, exceeding expectations, with revenues of $22.73 billion which is a 1.0% year-over-year increase.
• PepsiCo declared a quarterly dividend of $1.4225 per share, which equates to an annualized dividend of $5.69 and a yield of 3.9%.

RNC Capital Management LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 814.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 275,611 shares of the company's stock after purchasing an additional 245,487 shares during the period. PepsiCo accounts for 2.1% of RNC Capital Management LLC's portfolio, making the stock its 24th largest position. RNC Capital Management LLC's holdings in PepsiCo were worth $41,325,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Asset Management One Co. Ltd. increased its holdings in shares of PepsiCo by 3.6% during the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after acquiring an additional 21,859 shares in the last quarter. Ignite Planners LLC increased its stake in PepsiCo by 4.2% during the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after purchasing an additional 151 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in PepsiCo during the 1st quarter valued at about $3,633,000. OMERS ADMINISTRATION Corp increased its position in shares of PepsiCo by 12.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after acquiring an additional 13,461 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of PepsiCo by 2.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 270,938 shares of the company's stock valued at $40,624,000 after acquiring an additional 6,112 shares in the last quarter. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

Shares of PEP traded up $1.39 during trading hours on Tuesday, hitting $143.10. The stock had a trading volume of 5,852,496 shares, compared to its average volume of 8,398,995. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $179.43. The firm has a market capitalization of $195.91 billion, a PE ratio of 26.07, a PEG ratio of 3.58 and a beta of 0.46. The stock has a fifty day moving average price of $143.35 and a 200 day moving average price of $140.74.

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

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, September 5th. PepsiCo's payout ratio is 103.64%.

Wall Street Analyst Weigh In

PEP has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Citigroup upped their price target on PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company upped their price target on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $146.00 target price on shares of PepsiCo in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. decreased their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $158.60.

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.