VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Shares in PepsiCo, Inc. $PEP

Key Points

• Virginia Retirement Systems purchased 181,516 shares of PepsiCo, Inc. valued at approximately $23.97 million during the second quarter.
• PepsiCo has reported a $2.29 EPS for the quarter, exceeding analysts' expectations, and its revenue was up 2.7% year-over-year.
• The company declared a quarterly dividend of $1.4225 per share, representing an annualized dividend yield of 3.7%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 181,516 shares of the company's stock, valued at approximately $23,967,000.

Several other institutional investors and hedge funds have also modified their holdings of PEP. Brighton Jones LLC grew its stake in shares of PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after acquiring an additional 6,574 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of PepsiCo by 28.1% in the first quarter. GAMMA Investing LLC now owns 30,603 shares of the company's stock valued at $4,589,000 after acquiring an additional 6,712 shares in the last quarter. Advisor Resource Council acquired a new position in shares of PepsiCo in the first quarter valued at about $819,000. GAM Holding AG lifted its position in PepsiCo by 62.3% during the first quarter. GAM Holding AG now owns 11,413 shares of the company's stock worth $1,711,000 after purchasing an additional 4,383 shares during the period. Finally, Cullinan Associates Inc. lifted its position in PepsiCo by 4.2% during the first quarter. Cullinan Associates Inc. now owns 27,493 shares of the company's stock worth $4,122,000 after purchasing an additional 1,100 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.7%

PEP stock opened at $153.71 on Monday. The stock has a market capitalization of $210.17 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 3.74 and a beta of 0.46. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $177.50. The firm has a 50-day moving average price of $145.51 and a 200-day moving average price of $139.25.

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

PepsiCo Dividend Announcement

The company 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 currently 108.17%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PEP shares. Rothschild & Co Redburn upped their price objective on shares of PepsiCo from $115.00 to $117.00 and gave the stock a "sell" rating in a research report on Monday, October 13th. Piper Sandler upped their price objective on shares of PepsiCo from $160.00 to $162.00 and gave the stock an "overweight" rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PepsiCo in a research report on Tuesday, October 14th. Morgan Stanley upped their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, BNP Paribas Exane cut their price objective on shares of PepsiCo from $152.00 to $150.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of "Hold" and a consensus target price of $156.00.

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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