Ingalls & Snyder LLC Has $8.86 Million Stock Holdings in PepsiCo, Inc. $PEP

Ingalls & Snyder LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,117 shares of the company’s stock after selling 1,194 shares during the quarter. Ingalls & Snyder LLC’s holdings in PepsiCo were worth $8,862,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the first quarter valued at about $25,000. Elite Financial Inc. purchased a new position in PepsiCo in the first quarter worth $28,000. Legend Financial Advisors Inc. purchased a new position in PepsiCo in the second quarter worth $29,000. Frazier Financial Advisors LLC raised its stake in shares of PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares during the period. Finally, RMG Wealth Management LLC bought a new stake in shares of PepsiCo during the 2nd quarter valued at $45,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PEP. Jefferies Financial Group upped their target price on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Piper Sandler increased their target price on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Wells Fargo & Company increased their price objective on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Bank of America raised their target price on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $156.95.

PepsiCo Trading Up 0.0%

Shares of PEP stock opened at $151.55 on Friday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $174.00. 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’s 50-day moving average price is $145.97 and its 200-day moving average price is $139.62. The stock has a market capitalization of $207.22 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 3.69 and a beta of 0.46.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. The company 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 firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

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.