Salem Investment Counselors Inc. Sells 4,172 Shares of PepsiCo, Inc. $PEP

Key Points

• Salem Investment Counselors Inc. reduced its stake in PepsiCo by 1.4%, selling 4,172 shares during the second quarter, resulting in a total of 284,343 shares valued at approximately $37.5 million.
• PepsiCo is currently rated as a "Hold" by analysts, with a consensus price target of $158.67; brokerages have varied price objectives ranging from $140.00 to $175.00.
• The company recently announced a quarterly dividend of $1.4225 per share, reflecting an annual yield of 4.0%, with a payout ratio of 103.64%.

Salem Investment Counselors Inc. trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,343 shares of the company's stock after selling 4,172 shares during the quarter. PepsiCo makes up 1.2% of Salem Investment Counselors Inc.'s investment portfolio, making the stock its 15th largest position. Salem Investment Counselors Inc.'s holdings in PepsiCo were worth $37,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock worth $20,268,027,000 after acquiring an additional 1,802,748 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in PepsiCo by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company's stock worth $3,969,698,000 after acquiring an additional 1,258,198 shares during the last quarter. Bank of New York Mellon Corp grew its position in PepsiCo by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company's stock worth $2,108,585,000 after acquiring an additional 49,699 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in PepsiCo by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company's stock worth $1,728,180,000 after acquiring an additional 208,292 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in PepsiCo by 4.5% in the 1st quarter. Invesco Ltd. now owns 11,328,158 shares of the company's stock worth $1,698,544,000 after buying an additional 491,894 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEP. Citigroup lifted their price objective on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company lifted their price objective on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Barclays lifted their price objective on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Cowen reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Finally, UBS Group cut their price objective on PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $158.67.

PepsiCo Trading Down 0.5%

PEP opened at $143.53 on Friday. The stock has a market cap of $196.50 billion, a PE ratio of 26.14, a PEG ratio of 3.65 and a beta of 0.46. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The business has a 50 day moving average of $143.81 and a 200-day moving average of $140.52. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.43.

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

PepsiCo Announces Dividend

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

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.

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