Wendell David Associates Inc. Decreases Position in PepsiCo, Inc. $PEP

Key Points

• Wendell David Associates Inc. reduced its stake in PepsiCo by 4.1% during the second quarter, now holding 78,040 shares valued at approximately $10.3 million.
• PepsiCo's recent earnings report showed an EPS of $2.29, slightly surpassing the consensus estimate, with a revenue of $23.94 billion for the quarter.
• The company announced a quarterly dividend of $1.4225 per share, reflecting a 3.7% yield and a payout ratio of 108.17%.

Wendell David Associates Inc. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,040 shares of the company's stock after selling 3,315 shares during the period. PepsiCo accounts for about 1.0% of Wendell David Associates Inc.'s portfolio, making the stock its 26th biggest position. Wendell David Associates Inc.'s holdings in PepsiCo were worth $10,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Claris Advisors LLC MO raised its position in PepsiCo by 14.1% during the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company's stock valued at $329,000 after purchasing an additional 308 shares during the period. Foster Group Inc. raised its holdings in shares of PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company's stock worth $683,000 after buying an additional 229 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after buying an additional 21,859 shares during the period. Ignite Planners LLC raised its holdings in shares of PepsiCo by 4.2% in the first quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock worth $566,000 after buying an additional 151 shares during the period. Finally, Merit Financial Group LLC raised its holdings in shares of PepsiCo by 46.4% in the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company's stock worth $15,098,000 after buying an additional 36,239 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.7%

Shares of NASDAQ PEP opened at $153.71 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock has a market capitalization 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. The stock's fifty day simple moving average is $145.51 and its two-hundred day simple moving average is $139.33. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $177.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. The business had revenue of $23.94 billion for 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%.The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced 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. This represents a $5.69 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is 108.17%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PEP shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Morgan Stanley increased their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Rothschild & Co Redburn increased their price target on PepsiCo from $115.00 to $117.00 and gave the stock a "sell" rating in a report on Monday, October 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of PepsiCo in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada reduced their price target on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating on the stock in a report on Monday, September 15th. Six 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 MarketBeat, the company has a consensus rating of "Hold" and an average target price of $156.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.