PepsiCo, Inc. $PEP Position Decreased by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 21,458 shares of the company’s stock after selling 1,144 shares during the period. PepsiCo comprises approximately 1.2% of Agate Pass Investment Management LLC’s holdings, making the stock its 29th largest holding. Agate Pass Investment Management LLC’s holdings in PepsiCo were worth $2,833,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nova Wealth Management Inc. acquired a new position in shares of PepsiCo in the first quarter worth about $25,000. Elite Financial Inc. acquired a new position in shares of PepsiCo in the first quarter worth about $28,000. Legend Financial Advisors Inc. acquired a new position in shares of PepsiCo in the second quarter worth about $29,000. Investment Research & Advisory Group Inc. boosted its holdings in shares of 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 buying an additional 232 shares during the period. Finally, RMG Wealth Management LLC acquired a new stake in shares of PepsiCo during the second quarter worth approximately $45,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PEP. Citigroup decreased their price target on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Morgan Stanley raised their price target on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Barclays raised their price target on shares of PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday. BNP Paribas Exane decreased their price target on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Finally, Cowen restated a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Five investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $158.25.

PepsiCo Price Performance

Shares of PEP opened at $150.08 on Friday. The firm has a market cap of $205.47 billion, a PE ratio of 28.53, a PEG ratio of 3.62 and a beta of 0.46. The firm’s 50 day moving average price is $144.53 and its 200 day moving average price is $139.32. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $177.50.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.03. The firm had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 58.46%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were given a $1.4225 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is currently 103.64%.

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.