Pittenger & Anderson Inc. Sells 7,839 Shares of PepsiCo, Inc. $PEP

Pittenger & Anderson Inc. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 64.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,265 shares of the company’s stock after selling 7,839 shares during the quarter. Pittenger & Anderson Inc.’s holdings in PepsiCo were worth $563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Nova Wealth Management Inc. bought a new position in shares of PepsiCo during the first quarter valued at about $25,000. Elite Financial Inc. purchased a new position in shares of PepsiCo during the first quarter valued at about $28,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo during the second quarter valued at about $29,000. Frazier Financial Advisors LLC increased its position in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after buying an additional 122 shares during the period. Finally, Investment Research & Advisory Group Inc. increased its position in shares of PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after buying an additional 232 shares during the period. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PEP shares. Jefferies Financial Group upped their price objective on shares of PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Evercore ISI upped their price objective on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Citigroup cut their price objective on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Morgan Stanley upped their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Finally, Piper Sandler upped their target price on shares of PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $156.58.

PepsiCo Trading Down 0.3%

Shares of NASDAQ PEP opened at $153.18 on Wednesday. The firm’s 50 day moving average price is $145.82 and its 200-day moving average price is $139.39. The company has a market cap of $209.45 billion, a PE ratio of 29.12, a P/E/G ratio of 3.74 and a beta of 0.46. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $174.95. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91.

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 analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.7%. PepsiCo’s dividend 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.