Truist Financial Corp Decreases Position in PepsiCo, Inc. $PEP

Key Points

• Truist Financial Corp reduced its stake in PepsiCo, Inc. by 13.5% during Q2, now holding 1,117,671 shares valued at approximately $147.6 million.
• PepsiCo analysts have mixed recommendations, with target prices ranging from $145 to $165, and a consensus rating of "Hold" with an average target of $158.13.
• PepsiCo recently declared a quarterly dividend of $1.4225 per share, marking a yield of 4.1% despite a high payout ratio of 103.64%.

Truist Financial Corp lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,117,671 shares of the company's stock after selling 174,449 shares during the quarter. Truist Financial Corp owned 0.08% of PepsiCo worth $147,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEP. Brighton Jones LLC grew its position in shares of PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after buying an additional 6,574 shares in the last quarter. Vantage Wealth lifted its stake in PepsiCo by 13.7% in the first quarter. Vantage Wealth now owns 120,733 shares of the company's stock worth $18,103,000 after acquiring an additional 14,505 shares during the last quarter. Merit Financial Group LLC grew its holdings in PepsiCo by 18.9% during the 1st quarter. Merit Financial Group LLC now owns 78,105 shares of the company's stock worth $11,711,000 after acquiring an additional 12,406 shares in the last quarter. HBW Advisory Services LLC increased its position in shares of PepsiCo by 5.5% in the 1st quarter. HBW Advisory Services LLC now owns 25,072 shares of the company's stock valued at $3,759,000 after purchasing an additional 1,297 shares during the last quarter. Finally, InvesTrust raised its holdings in shares of PepsiCo by 1.1% in the 1st quarter. InvesTrust now owns 41,697 shares of the company's stock valued at $6,252,000 after purchasing an additional 441 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company lowered their target price on shares of PepsiCo from $154.00 to $150.00 and set an "equal weight" rating for the company in a research note on Thursday, September 25th. Morgan Stanley upped their price objective on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Royal Bank Of Canada cut their target price on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a research report on Monday, September 15th. Barclays upped their price target on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Finally, Cowen reissued a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $158.13.

PepsiCo Stock Up 0.2%

PEP opened at $140.44 on Wednesday. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50. The business has a 50 day moving average price of $144.49 and a two-hundred day moving average price of $139.54. 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 company has a market cap of $192.27 billion, a PE ratio of 25.58, a P/E/G ratio of 3.54 and a beta of 0.46.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its 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. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The business had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. PepsiCo's dividend payout ratio is presently 103.64%.

PepsiCo Company 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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