Avidian Wealth Enterprises LLC Sells 713 Shares of PepsiCo, Inc. $PEP

Avidian Wealth Enterprises LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,496 shares of the company’s stock after selling 713 shares during the period. Avidian Wealth Enterprises LLC’s holdings in PepsiCo were worth $2,178,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of PepsiCo by 1.4% in the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after purchasing an additional 1,802,748 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of PepsiCo by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock valued at $3,969,698,000 after purchasing an additional 1,258,198 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of PepsiCo by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company’s stock valued at $2,108,585,000 after purchasing an additional 49,699 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of PepsiCo by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock valued at $1,728,180,000 after purchasing an additional 208,292 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of PepsiCo by 4.5% in the first quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock valued at $1,698,544,000 after purchasing an additional 491,894 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on PEP. Rothschild & Co Redburn boosted their price target on PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a report on Monday, October 13th. HSBC boosted their price target on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. Piper Sandler boosted their price target on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of PepsiCo in a research report on Thursday, July 17th. Finally, Morgan Stanley lifted their target price on PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $156.00.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $153.64 on Tuesday. The business’s 50 day moving average price is $145.69 and its two-hundred day moving average price is $139.29. The company has a market cap of $210.08 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 3.74 and a beta of 0.46. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $177.50.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Friday, September 5th. PepsiCo’s payout ratio is 108.17%.

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.