Turtle Creek Wealth Advisors LLC Sells 2,866 Shares of PepsiCo, Inc. $PEP

Key Points

• Turtle Creek Wealth Advisors LLC reduced its stake in PepsiCo, Inc. by 11.3%, selling 2,866 shares and leaving it with 22,584 shares valued at approximately $2.98 million.
• Wall Street analysts have adjusted their price targets for PepsiCo, with a consensus target price of $156.00 and six analysts giving the stock a Buy rating.
• PepsiCo reported a quarterly EPS of $2.29, exceeding expectations, and also announced a quarterly dividend of $1.4225, reflecting an annual yield of 3.8%.

Turtle Creek Wealth Advisors LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,584 shares of the company's stock after selling 2,866 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in PepsiCo were worth $2,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Nova Wealth Management Inc. bought a new position in shares of PepsiCo in the first quarter worth about $25,000. Elite Financial Inc. bought a new position in PepsiCo in the first quarter valued at about $28,000. Legend Financial Advisors Inc. bought a new position in PepsiCo in the second quarter valued at about $29,000. Frazier Financial Advisors LLC boosted its holdings in PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company's stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. Finally, RMG Wealth Management LLC bought a new position in PepsiCo in the second quarter valued at about $45,000. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent research reports. Rothschild & Co Redburn boosted their price target on shares of PepsiCo from $115.00 to $117.00 and gave the stock a "sell" rating in a research note on Monday. Wells Fargo & Company boosted their price target on shares of PepsiCo from $150.00 to $154.00 and gave the stock a "positive" rating in a research note on Friday, October 10th. Barclays boosted their price target on shares of PepsiCo from $140.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Friday, October 10th. Cowen reissued a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Piper Sandler boosted their price target on shares of PepsiCo from $160.00 to $162.00 and gave the stock an "overweight" rating in a research note on Friday, October 10th. Six 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 MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $156.00.

PepsiCo Stock Down 0.3%

Shares of NASDAQ:PEP opened at $151.16 on Thursday. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The company has a market capitalization of $206.69 billion, a PE ratio of 28.74, a PEG ratio of 3.69 and a beta of 0.46. The company has a 50 day moving average price of $145.17 and a two-hundred day moving average price of $139.35.

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

PepsiCo Announces Dividend

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

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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