Summit Financial LLC Purchases 2,151 Shares of PepsiCo, Inc. $PEP

Key Points

• Summit Financial LLC increased its holdings in PepsiCo by 8.2%, acquiring an additional 2,151 shares, bringing its total to 28,261 shares, valued at approximately $4.24 million.
• PepsiCo reported earnings per share of $2.12 for the last quarter, exceeding analyst expectations, and had a net margin of 8.23% despite a drop in year-over-year earnings.
• The company announced a quarterly dividend of $1.4225 per share, resulting in an annualized yield of 3.8%, set to be paid on September 30th.

Summit Financial LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,261 shares of the company's stock after acquiring an additional 2,151 shares during the quarter. Summit Financial LLC's holdings in PepsiCo were worth $4,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elite Financial Inc. bought a new stake in shares of PepsiCo during the first quarter valued at approximately $28,000. Measured Risk Portfolios Inc. bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $31,000. Sunbeam Capital Management LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $47,000. MorganRosel Wealth Management LLC bought a new stake in shares of PepsiCo during the first quarter valued at approximately $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of PepsiCo during the first quarter valued at approximately $58,000. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Down 1.2%

Shares of NASDAQ:PEP opened at $148.98 on Friday. The company has a market capitalization of $203.97 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 4.02 and a beta of 0.45. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The business has a fifty day moving average price of $138.94 and a two-hundred day moving average price of $140.62. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data 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 firm 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 revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. Analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current 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 paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio is 103.64%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PEP shares. Cowen reaffirmed a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Citigroup lifted their target price on PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, July 18th. UBS Group cut their target price on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. cut their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, PepsiCo has a consensus rating of "Hold" and an average price target of $158.73.

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.

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.