Parsons Capital Management Inc. RI Sells 2,697 Shares of PepsiCo, Inc. $PEP

Parsons Capital Management Inc. RI reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.2% during the second quarter, Holdings Channel.com reports. The fund owned 40,887 shares of the company’s stock after selling 2,697 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in PepsiCo were worth $5,399,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PEP. Brighton Jones LLC grew its stake in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after acquiring an additional 6,574 shares in the last quarter. RFG Advisory LLC grew its stake in PepsiCo by 5.8% in the 1st quarter. RFG Advisory LLC now owns 16,335 shares of the company’s stock worth $2,449,000 after acquiring an additional 898 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in PepsiCo by 32.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 13,600 shares of the company’s stock worth $2,039,000 after acquiring an additional 3,332 shares in the last quarter. Triangle Securities Wealth Management grew its stake in PepsiCo by 1.6% in the 1st quarter. Triangle Securities Wealth Management now owns 20,108 shares of the company’s stock worth $3,015,000 after acquiring an additional 307 shares in the last quarter. Finally, Apella Capital LLC grew its stake in PepsiCo by 126.1% in the 1st quarter. Apella Capital LLC now owns 22,596 shares of the company’s stock worth $3,290,000 after acquiring an additional 12,601 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PEP shares. Morgan Stanley increased their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, July 10th. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $154.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 25th. UBS Group dropped their price objective on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, Barclays increased their price objective on shares of PepsiCo from $132.00 to $144.00 and gave the company an “equal weight” rating in a research note on Monday, July 21st. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $158.13.

PepsiCo Price Performance

Shares of PEP opened at $143.14 on Thursday. The company has a market cap of $195.97 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 3.54 and a beta of 0.46. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $177.50. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The company has a 50 day moving average of $144.43 and a two-hundred day moving average of $139.56.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. PepsiCo’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, September 5th. PepsiCo’s dividend payout ratio (DPR) is 103.64%.

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.