DAVENPORT & Co LLC Lowers Stock Position in PepsiCo, Inc. $PEP

DAVENPORT & Co LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 588,758 shares of the company’s stock after selling 11,736 shares during the period. DAVENPORT & Co LLC’s holdings in PepsiCo were worth $77,627,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nova Wealth Management Inc. acquired a new stake in PepsiCo in the 1st quarter valued at about $25,000. Elite Financial Inc. purchased a new position in shares of PepsiCo during the first quarter worth about $28,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo in the 2nd quarter valued at $29,000. Investment Research & Advisory Group Inc. raised its stake in shares of PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after buying an additional 232 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of PepsiCo in the first quarter valued at about $55,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.2%

PEP opened at $141.98 on Monday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $177.50. The business has a 50-day moving average of $144.36 and a two-hundred day moving average of $139.34. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The stock has a market capitalization of $194.38 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 3.58 and a beta of 0.46.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business had revenue of $22.73 billion for the quarter, compared to analysts’ expectations of $22.28 billion. During the same period last year, the company earned $2.28 earnings per share. The company’s quarterly 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 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, September 5th. PepsiCo’s dividend payout ratio (DPR) is presently 103.64%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PEP shares. Citigroup dropped their price target on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Morgan Stanley upped their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Bank of America cut their price objective on PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of PepsiCo in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. reduced their price objective on PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, July 10th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $157.87.

PepsiCo 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.