Kanawha Capital Management LLC Sells 271 Shares of PepsiCo, Inc. $PEP

Kanawha Capital Management LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 126,851 shares of the company’s stock after selling 271 shares during the period. PepsiCo comprises approximately 1.2% of Kanawha Capital Management LLC’s investment portfolio, making the stock its 26th biggest position. Kanawha Capital Management LLC’s holdings in PepsiCo were worth $16,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JSF Financial LLC raised its position in shares of PepsiCo by 3.8% in the second quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock valued at $250,000 after purchasing an additional 69 shares during the period. Dogwood Wealth Management LLC raised its position in shares of PepsiCo by 15.4% in the second quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock valued at $73,000 after purchasing an additional 72 shares during the period. Joel Isaacson & Co. LLC raised its position in shares of PepsiCo by 0.5% in the second quarter. Joel Isaacson & Co. LLC now owns 16,507 shares of the company’s stock valued at $2,180,000 after purchasing an additional 74 shares during the period. Bull Street Advisors LLC raised its position in shares of PepsiCo by 0.4% in the second quarter. Bull Street Advisors LLC now owns 19,902 shares of the company’s stock valued at $2,628,000 after purchasing an additional 74 shares during the period. Finally, Centurion Wealth Management LLC raised its position in shares of PepsiCo by 3.8% in the second quarter. Centurion Wealth Management LLC now owns 2,068 shares of the company’s stock valued at $273,000 after purchasing an additional 75 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PEP. Wells Fargo & Company lifted their price target on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Piper Sandler lifted their price target on shares of PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. BNP Paribas Exane dropped their target price on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Morgan Stanley boosted their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $156.00.

PepsiCo Trading Up 0.7%

Shares of PepsiCo stock opened at $153.71 on Friday. The firm has a market capitalization of $210.17 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 3.71 and a beta of 0.46. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The company’s fifty day moving average price is $145.51 and its two-hundred day moving average price is $139.40. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $177.50.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) 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 57.58%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, September 5th. PepsiCo’s payout ratio is 108.17%.

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.