Violich Capital Management Inc. Sells 10,150 Shares of PepsiCo, Inc. $PEP

Key Points

• Violich Capital Management Inc. reduced its stake in PepsiCo by 11.6%, selling 10,150 shares and now holding 77,602 shares, valued at approximately $10.25 million.
• A number of institutional investors, including First Bancorp Inc ME and Goldstein Advisors LLC, have recently increased their positions in PepsiCo during the second quarter, indicating ongoing interest in the stock.
• Research analysts have mixed predictions for PepsiCo's stock, with a consensus price target of $156.00 and varying ratings from “buy” to “hold” by firms such as BNP Paribas Exane and Citigroup.

Violich Capital Management Inc. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,602 shares of the company's stock after selling 10,150 shares during the period. PepsiCo comprises about 1.4% of Violich Capital Management Inc.'s portfolio, making the stock its 16th biggest position. Violich Capital Management Inc.'s holdings in PepsiCo were worth $10,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. First Bancorp Inc ME grew its position in shares of PepsiCo by 5.6% in the 2nd quarter. First Bancorp Inc ME now owns 5,049 shares of the company's stock valued at $667,000 after buying an additional 267 shares during the last quarter. Goldstein Advisors LLC grew its position in shares of PepsiCo by 6.8% in the 2nd quarter. Goldstein Advisors LLC now owns 2,805 shares of the company's stock valued at $370,000 after buying an additional 178 shares during the last quarter. TrueMark Investments LLC grew its position in shares of PepsiCo by 6.3% in the 2nd quarter. TrueMark Investments LLC now owns 36,523 shares of the company's stock valued at $4,822,000 after buying an additional 2,159 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of PepsiCo in the 2nd quarter valued at about $23,967,000. Finally, Signature Estate & Investment Advisors LLC lifted its stake in shares of PepsiCo by 4.4% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 4,571 shares of the company's stock valued at $604,000 after purchasing an additional 193 shares during the period. Institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PEP shares. BNP Paribas Exane dropped their price objective on PepsiCo from $152.00 to $150.00 and set a "neutral" rating on the stock in a research note on Monday, October 6th. Evercore ISI boosted their price objective on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Citigroup dropped their price objective on PepsiCo from $168.00 to $165.00 and set a "buy" rating on the stock in a research note on Thursday, September 25th. The Goldman Sachs Group boosted their price objective on PepsiCo from $165.00 to $167.00 and gave the company a "buy" rating in a research note on Friday, October 10th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of PepsiCo in a research note on Tuesday, October 14th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $156.00.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $153.71 on Friday. The company has a market cap of $210.17 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 3.74 and a beta of 0.46. 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 $145.51 and a 200-day moving average price of $139.33. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

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

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were paid a $1.4225 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.7%. PepsiCo's dividend payout ratio is 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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