Northcape Wealth Management LLC Acquires 608 Shares of PepsiCo, Inc. $PEP

Northcape Wealth Management LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the second quarter, HoldingsChannel reports. The firm owned 34,684 shares of the company’s stock after purchasing an additional 608 shares during the quarter. PepsiCo accounts for about 1.4% of Northcape Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. Northcape Wealth Management LLC’s holdings in PepsiCo were worth $4,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Claris Advisors LLC MO raised its stake in shares of PepsiCo by 14.1% during the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after purchasing an additional 308 shares during the period. Foster Group Inc. raised its stake in shares of PepsiCo by 4.6% during the 2nd quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock worth $683,000 after purchasing an additional 229 shares during the period. Ignite Planners LLC raised its stake in PepsiCo by 4.2% in the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock valued at $566,000 after acquiring an additional 151 shares during the period. Merit Financial Group LLC raised its stake in PepsiCo by 46.4% in the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after acquiring an additional 36,239 shares during the period. Finally, Fulton Bank N.A. raised its stake in PepsiCo by 2.5% in the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock valued at $3,342,000 after acquiring an additional 620 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Down 1.7%

Shares of PEP opened at $143.60 on Tuesday. The business’s 50-day moving average price is $145.71 and its 200-day moving average price is $139.71. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $167.96. The stock has a market cap of $196.35 billion, a PE ratio of 27.30, a P/E/G ratio of 3.56 and a beta of 0.46. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results 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. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PEP. Loop Capital set a $164.00 price objective on PepsiCo in a research note on Thursday, October 23rd. Cowen restated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Barclays boosted their price objective on PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. The Goldman Sachs Group boosted their price objective on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of PepsiCo in a research note on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $156.95.

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.