Bartlett & CO. Wealth Management LLC Sells 15,882 Shares of PepsiCo, Inc. $PEP

Bartlett & CO. Wealth Management LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 602,404 shares of the company’s stock after selling 15,882 shares during the period. PepsiCo accounts for about 1.1% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Bartlett & CO. Wealth Management LLC’s holdings in PepsiCo were worth $79,541,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nova Wealth Management Inc. bought a new stake in PepsiCo in the first quarter worth $25,000. Elite Financial Inc. bought a new stake in PepsiCo in the first quarter worth $28,000. Legend Financial Advisors Inc. bought a new stake in PepsiCo in the second quarter worth $29,000. Investment Research & Advisory Group Inc. boosted its holdings in PepsiCo by 263.6% in the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after acquiring an additional 232 shares in the last quarter. Finally, MorganRosel Wealth Management LLC bought a new stake in PepsiCo in the first quarter worth $55,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP opened at $140.44 on Wednesday. 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 business has a 50-day simple moving average of $144.49 and a two-hundred day simple moving average of $139.54. The stock has a market cap 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, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50.

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

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were given a $1.4225 dividend. The ex-dividend date was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. PepsiCo’s dividend payout ratio is presently 103.64%.

Analyst Upgrades and Downgrades

PEP has been the topic of several analyst reports. Morgan Stanley boosted their target price on PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Cowen restated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of PepsiCo in a research note on Thursday, July 17th. Bank of America decreased their price target on PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. Finally, Royal Bank Of Canada decreased their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research note on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus price target 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.