Cerro Pacific Wealth Advisors LLC Decreases Stock Holdings in PepsiCo, Inc. $PEP

Cerro Pacific Wealth Advisors LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,613 shares of the company’s stock after selling 1,141 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in PepsiCo were worth $1,665,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Johnson Investment Counsel Inc. raised its stake in PepsiCo by 5.7% during the second quarter. Johnson Investment Counsel Inc. now owns 547,679 shares of the company’s stock valued at $72,316,000 after purchasing an additional 29,362 shares in the last quarter. waypoint wealth counsel purchased a new stake in PepsiCo during the second quarter valued at $381,000. Matrix Asset Advisors Inc. NY increased its position in PepsiCo by 59.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 220,465 shares of the company’s stock valued at $29,110,000 after acquiring an additional 82,343 shares during the last quarter. GFS Advisors LLC increased its position in PepsiCo by 17.7% during the second quarter. GFS Advisors LLC now owns 86,975 shares of the company’s stock valued at $11,484,000 after acquiring an additional 13,105 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in PepsiCo by 23.9% during the second quarter. Fifth Third Wealth Advisors LLC now owns 39,062 shares of the company’s stock valued at $5,158,000 after acquiring an additional 7,541 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. Royal Bank Of Canada cut their price objective on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Monday, September 15th. Wells Fargo & Company upped their price target on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a report on Friday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PepsiCo in a research note on Saturday, September 27th. Bank of America raised their price target on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Cowen reiterated a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $158.88.

PepsiCo Stock Up 3.7%

NASDAQ:PEP opened at $150.08 on Friday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $177.50. The stock has a market capitalization of $205.47 billion, a P/E ratio of 28.53, a P/E/G ratio of 3.76 and a beta of 0.46. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The company’s 50-day simple moving average is $144.53 and its 200-day simple moving average is $139.26.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 7.82% and a return on equity of 58.46%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal 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 paid a $1.4225 dividend. The ex-dividend date was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is 103.64%.

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.