RNC Capital Management LLC Purchases 47,082 Shares of PepsiCo, Inc. $PEP

RNC Capital Management LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 322,693 shares of the company’s stock after buying an additional 47,082 shares during the quarter. PepsiCo makes up about 2.1% of RNC Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. RNC Capital Management LLC’s holdings in PepsiCo were worth $42,608,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PEP. Brighton Jones LLC grew its stake in shares of PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after purchasing an additional 6,574 shares during the last quarter. GAMMA Investing LLC boosted its stake in PepsiCo by 28.1% in the first quarter. GAMMA Investing LLC now owns 30,603 shares of the company’s stock valued at $4,589,000 after acquiring an additional 6,712 shares during the last quarter. Consolidated Portfolio Review Corp boosted its stake in PepsiCo by 95.6% in the first quarter. Consolidated Portfolio Review Corp now owns 5,847 shares of the company’s stock valued at $877,000 after acquiring an additional 2,857 shares during the last quarter. Penn Davis Mcfarland Inc. boosted its stake in PepsiCo by 2.3% in the first quarter. Penn Davis Mcfarland Inc. now owns 29,173 shares of the company’s stock valued at $4,374,000 after acquiring an additional 660 shares during the last quarter. Finally, Edmp Inc. bought a new position in PepsiCo in the first quarter valued at approximately $1,617,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $153.03 on Thursday. The firm has a market cap of $209.24 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 3.73 and a beta of 0.46. The stock’s 50-day moving average is $145.89 and its 200-day moving average is $139.49. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $174.00. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Citigroup cut their target price 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. Bank of America increased their target price on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Evercore ISI increased their target price on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Seven research 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’s stock. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $156.58.

PepsiCo 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.