Summit Global Investments Trims Stock Position in PepsiCo, Inc. $PEP

Key Points

• Summit Global Investments cut its PepsiCo stake by 20.4% in the first quarter, selling 15,526 shares and ending with 60,710 shares valued at about $9.43 million.
• PepsiCo’s latest earnings beat expectations, reporting $2.20 EPS on $24.18 billion in revenue, with revenue up 6.4% year over year. The company also reaffirmed FY2026 guidance of 8.55–8.71 EPS.
• Analyst sentiment remains cautious: the stock has an overall Hold rating with an average target price of $157.70, while PepsiCo also announced a quarterly dividend of $1.48 per share for a 4.4% yield.

Summit Global Investments cut its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 20.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,710 shares of the company's stock after selling 15,526 shares during the quarter. PepsiCo comprises 0.6% of Summit Global Investments' investment portfolio, making the stock its 21st biggest position. Summit Global Investments' holdings in PepsiCo were worth $9,428,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PEP. Evergreen Advisors LLC purchased a new stake in shares of PepsiCo in the first quarter worth $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in PepsiCo during the fourth quarter worth about $26,000. Swiss RE Ltd. bought a new position in PepsiCo in the 4th quarter worth about $28,000. MH & Associates Securities Management Corp ADV bought a new position in PepsiCo in the 4th quarter worth about $29,000. Finally, Networth Advisors LLC raised its holdings in shares of PepsiCo by 2,857.1% in the 1st quarter. Networth Advisors LLC now owns 207 shares of the company's stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PEP. Wall Street Zen lowered PepsiCo from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Royal Bank Of Canada lowered their target price on shares of PepsiCo from $163.00 to $161.00 and set a "sector perform" rating on the stock in a research note on Friday, July 10th. Sanford C. Bernstein set a $134.00 target price on shares of PepsiCo in a research report on Friday, July 10th. Piper Sandler set a $176.00 price target on shares of PepsiCo in a report on Thursday, July 9th. Finally, BNP Paribas Exane lowered their price objective on shares of PepsiCo from $195.00 to $183.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $157.70.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $135.46 on Tuesday. The firm has a market capitalization of $184.89 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 3.01 and a beta of 0.36. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 1.91. PepsiCo, Inc. has a 12 month low of $133.95 and a 12 month high of $171.48. The business's 50-day moving average price is $143.25 and its 200-day moving average price is $151.20.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, July 9th. The company reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.19 by $0.01. PepsiCo had a return on equity of 54.63% and a net margin of 10.78%.The company had revenue of $24.18 billion during the quarter, compared to the consensus estimate of $23.95 billion. During the same quarter in the previous year, the company posted $0.92 EPS. PepsiCo's quarterly revenue was up 6.4% compared to the same quarter last year. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. Sell-side analysts forecast that PepsiCo, Inc. will post 8.58 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.4%. PepsiCo's dividend payout ratio is 77.59%.

PepsiCo Company Profile

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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