Old Port Advisors Trims Position in PepsiCo, Inc. $PEP

Old Port Advisors lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,169 shares of the company’s stock after selling 146 shares during the quarter. Old Port Advisors’ holdings in PepsiCo were worth $815,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PEP. Brighton Jones LLC increased its position in PepsiCo by 12.4% during 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 during the last quarter. Rothschild Investment LLC increased its position in PepsiCo by 0.5% in the first quarter. Rothschild Investment LLC now owns 15,873 shares of the company’s stock worth $2,380,000 after buying an additional 78 shares in the last quarter. BTC Capital Management Inc. increased its position in PepsiCo by 5.0% in the first quarter. BTC Capital Management Inc. now owns 53,989 shares of the company’s stock worth $8,096,000 after buying an additional 2,587 shares in the last quarter. Somerset Trust Co increased its position in PepsiCo by 5.6% in the first quarter. Somerset Trust Co now owns 21,085 shares of the company’s stock worth $3,161,000 after buying an additional 1,116 shares in the last quarter. Finally, Winthrop Advisory Group LLC increased its position in PepsiCo by 3.4% in the first quarter. Winthrop Advisory Group LLC now owns 6,117 shares of the company’s stock worth $917,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $140.44 on Friday. The stock has a 50 day moving average of $144.63 and a 200 day moving average of $139.65. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $177.50. The firm has a market cap of $192.27 billion, a PE ratio of 25.58, a PEG ratio of 3.54 and a beta of 0.46. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.12 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 company had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same period in the prior year, the company earned $2.28 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a dividend of $1.4225 per share. The ex-dividend date of this dividend is 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%.

Analyst Ratings Changes

A number of analysts have commented on PEP shares. Wells Fargo & Company reduced their price target on PepsiCo from $154.00 to $150.00 and set an “equal weight” rating for the company in a research report on Thursday. Royal Bank Of Canada reduced their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. Bank of America reduced their price target on PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, July 10th. Finally, Citigroup dropped their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday. Four 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $158.13.

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.