TD Asset Management Inc Buys 17,139 Shares of PepsiCo, Inc. $PEP

Key Points

• TD Asset Management Inc increased its stake in PepsiCo, acquiring an additional 17,139 shares, bringing its total holdings to approximately 1.2 million shares valued at $158.66 million.
• Analysts have recently raised their price targets for PepsiCo, with Goldman Sachs setting a new target of $167.00, indicating a favorable outlook for the stock.
• PepsiCo declared a quarterly dividend of $1.4225 per share, representing an annualized dividend yield of 3.8% and maintaining a payout ratio above 100%.

TD Asset Management Inc lifted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,201,597 shares of the company's stock after acquiring an additional 17,139 shares during the period. TD Asset Management Inc owned 0.09% of PepsiCo worth $158,659,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Nova Wealth Management Inc. purchased a new position in PepsiCo during the 1st quarter worth $25,000. Elite Financial Inc. purchased a new position in PepsiCo during the 1st quarter worth $28,000. Legend Financial Advisors Inc. purchased a new position in PepsiCo during the 2nd quarter worth $29,000. Frazier Financial Advisors LLC grew its stake in PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company's stock worth $35,000 after buying an additional 122 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. grew its stake in PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company's stock worth $42,000 after buying an additional 232 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PEP. The Goldman Sachs Group boosted their target price on PepsiCo from $165.00 to $167.00 and gave the stock a "buy" rating in a research note on Friday, October 10th. Cowen reiterated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. HSBC boosted their price target on PepsiCo from $145.00 to $152.00 and gave the company a "hold" rating in a research note on Friday, October 10th. Morgan Stanley boosted their price target on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of PepsiCo in a research note on Tuesday. Six investment 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $156.00.

PepsiCo Stock Up 1.8%

Shares of PEP opened at $151.54 on Wednesday. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $207.21 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 3.62 and a beta of 0.46. The stock's 50-day moving average price is $144.96 and its 200-day moving average price is $139.27.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to analysts' expectations of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were issued a $1.4225 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. PepsiCo's dividend payout ratio is presently 108.17%.

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.

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