PepsiCo, Inc. $PEP Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.0% during the first quarter, Holdings Channel reports. The firm owned 273,741 shares of the company’s stock after selling 56,216 shares during the quarter. iA Global Asset Management Inc.’s holdings in PepsiCo were worth $42,509,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in PepsiCo during the 4th quarter worth approximately $26,000. Swiss RE Ltd. purchased a new position in PepsiCo in the 4th quarter valued at approximately $28,000. MH & Associates Securities Management Corp ADV acquired a new position in shares of PepsiCo in the fourth quarter worth $29,000. Imprint Wealth LLC purchased a new stake in shares of PepsiCo during the third quarter worth $31,000. Finally, Networth Advisors LLC raised its stake in shares of PepsiCo by 2,857.1% in the first quarter. Networth Advisors LLC now owns 207 shares of the company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo News Roundup

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Investor sentiment was lifted by bullish commentary from 24/7 Wall St., which argued PepsiCo could have more than 20% upside based on a price target above current levels and called the stock a buy. Pepsi Price Prediction: The Case for 20%+ Upside
• Positive Sentiment: Unusual options activity pointed to rising trader interest, with investors buying a large volume of PepsiCo call options, often interpreted as a bullish signal. Investors Buy Large Volume of PepsiCo Call Options (NASDAQ:PEP)
• Positive Sentiment: PepsiCo expanded its manufacturing footprint in India by commissioning a second flavor plant in Ujjain, a long-term growth investment that could support supply and regional demand. PepsiCo India opens ₹1,266 cr flavour manufacturing facility in Ujjain
• Neutral Sentiment: Analysts are heading into PepsiCo’s July 9 earnings release expecting higher Q2 earnings and revenue, but this is still a forecast rather than a reported result. PepsiCo Likely To Report Higher Q2 Earnings
• Neutral Sentiment: PepsiCo is also facing a trademark dispute involving “Rise” and “Mtn Dew Rise” at the U.S. Supreme Court, which adds legal uncertainty but is not yet a confirmed financial hit. US Supreme Court takes up Pepsi ‘Mtn Dew Rise’ trademark dispute
• Negative Sentiment: Competition in the soda market remains intense, with Coca-Cola highlighted as having a Freestyle-machine advantage and launching an exclusive new soda flavor at Wingstop, underscoring pressure on PepsiCo’s beverage business. Coca-Cola launches exclusive soda flavor at fast-food giant

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $135.40 on Wednesday. The stock’s 50-day simple moving average is $147.56 and its 200-day simple moving average is $151.91. The firm has a market capitalization of $185.06 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.80 and a beta of 0.35. PepsiCo, Inc. has a fifty-two week low of $132.47 and a fifty-two week high of $171.48. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 earnings per share. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.62 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio (DPR) is currently 92.94%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Rothschild & Co Redburn boosted their target price on PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. TD Cowen reduced their price target on PepsiCo from $165.00 to $150.00 and set a “hold” rating on the stock in a research report on Friday, June 12th. Sanford C. Bernstein assumed coverage on PepsiCo in a research note on Thursday, June 11th. They issued a “market perform” rating and a $143.00 price objective for the company. Citigroup lowered their price objective on PepsiCo from $182.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada cut their target price on shares of PepsiCo from $165.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 9th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $166.85.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.