First County Bank CT Acquires 1,431 Shares of PepsiCo, Inc. $PEP

First County Bank CT grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 22.5% in the second quarter, Holdings Channel reports. The firm owned 7,793 shares of the company’s stock after acquiring an additional 1,431 shares during the period. First County Bank CT’s holdings in PepsiCo were worth $1,029,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Walker Asset Management LLC lifted its holdings in PepsiCo by 4.0% during the 2nd quarter. Walker Asset Management LLC now owns 2,199 shares of the company’s stock valued at $290,000 after buying an additional 84 shares in the last quarter. Smith Salley Wealth Management increased its position in shares of PepsiCo by 1.5% during the second quarter. Smith Salley Wealth Management now owns 127,101 shares of the company’s stock worth $16,782,000 after acquiring an additional 1,936 shares during the period. Addenda Capital Inc. increased its position in shares of PepsiCo by 15.0% during the second quarter. Addenda Capital Inc. now owns 97,215 shares of the company’s stock worth $12,836,000 after acquiring an additional 12,673 shares during the period. Symmetry Partners LLC grew its stake in PepsiCo by 103.5% in the second quarter. Symmetry Partners LLC now owns 3,427 shares of the company’s stock worth $453,000 after purchasing an additional 1,743 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in PepsiCo by 1.4% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 403,330 shares of the company’s stock worth $53,256,000 after purchasing an additional 5,487 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.4%

NASDAQ:PEP opened at $140.44 on Monday. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50. The firm has a 50 day moving average of $144.63 and a 200 day moving average of $139.59. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $192.27 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 3.54 and a beta of 0.46.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The business had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the prior year, the firm posted $2.28 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo’s dividend payout ratio (DPR) is currently 103.64%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PEP. JPMorgan Chase & Co. lowered their target price on PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Bank of America cut their target price on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, July 11th. Royal Bank Of Canada dropped 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 note on Monday, September 15th. Finally, UBS Group dropped their price objective on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $158.13.

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.