Pegasus Asset Management Inc. Increases Position in PepsiCo, Inc. $PEP

Pegasus Asset Management Inc. boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,678 shares of the company’s stock after buying an additional 1,388 shares during the quarter. PepsiCo makes up about 1.5% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Pegasus Asset Management Inc.’s holdings in PepsiCo were worth $4,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new position in PepsiCo in the first quarter valued at approximately $25,000. Elite Financial Inc. acquired a new position in shares of PepsiCo during the first quarter worth approximately $28,000. Legend Financial Advisors Inc. bought a new stake in shares of PepsiCo in the 2nd quarter worth $29,000. Investment Research & Advisory Group Inc. raised its stake in shares of PepsiCo by 263.6% in the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after buying an additional 232 shares in the last quarter. Finally, RMG Wealth Management LLC bought a new stake in shares of PepsiCo in the 2nd quarter worth $45,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on PEP. Piper Sandler boosted their target price on shares of PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Financial Group upped their price target on shares of PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research note on Friday. Citigroup decreased their price objective on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Cowen restated a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Evercore ISI upped their price target on shares of PepsiCo from $150.00 to $152.00 in a report on Friday. Five research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $157.75.

PepsiCo Trading Up 3.7%

PEP opened at $150.08 on Monday. The stock has a market capitalization of $205.47 billion, a P/E ratio of 28.53, a P/E/G ratio of 3.75 and a beta of 0.46. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $177.50. The firm’s fifty day simple moving average is $144.53 and its 200 day simple moving average is $139.19. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. 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 previous year, the firm posted $2.31 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, September 5th. PepsiCo’s payout ratio is currently 108.17%.

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.