Amalgamated Bank Decreases Stake in PepsiCo, Inc. $PEP

Amalgamated Bank lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 269,884 shares of the company’s stock after selling 18,041 shares during the quarter. Amalgamated Bank’s holdings in PepsiCo were worth $35,635,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after buying an additional 1,802,748 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock valued at $3,969,698,000 after buying an additional 1,258,198 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in PepsiCo by 0.4% during the 1st 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 buying an additional 49,699 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in PepsiCo by 1.8% during the 1st 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 buying an additional 208,292 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in PepsiCo by 4.5% during the 1st quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock valued at $1,698,544,000 after buying an additional 491,894 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ:PEP opened at $146.16 on Thursday. The business has a 50 day moving average of $145.90 and a 200 day moving average of $139.68. The company has a market capitalization of $199.85 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 3.65 and a beta of 0.46. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $167.96. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last released its 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 company had revenue of $23.94 billion during 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%.PepsiCo’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEP. Rothschild & Co Redburn lifted their target price on PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a report on Monday, October 13th. Bank of America lifted their target price on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. HSBC lifted their price target on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Finally, Morgan Stanley lifted their price target on PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $156.95.

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.