Heritage Wealth Management Inc. CA Cuts Holdings in PepsiCo, Inc. $PEP

Heritage Wealth Management Inc. CA decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 8.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,205 shares of the company’s stock after selling 286 shares during the period. Heritage Wealth Management Inc. CA’s holdings in PepsiCo were worth $423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Vanguard Group Inc. increased its stake in shares of PepsiCo by 1.4% during the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of PepsiCo by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after purchasing an additional 1,258,198 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of PepsiCo by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company’s stock worth $2,108,585,000 after purchasing an additional 49,699 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of PepsiCo by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock worth $1,728,180,000 after purchasing an additional 208,292 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of PepsiCo by 4.5% during the first quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock worth $1,698,544,000 after purchasing an additional 491,894 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. BNP Paribas Exane lowered their price target on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Citigroup lowered their price target on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday. Finally, HSBC boosted their price target on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $156.00.

PepsiCo Stock Performance

Shares of PEP stock opened at $151.54 on Wednesday. The firm’s 50 day moving average price is $144.96 and its 200-day moving average price is $139.27. 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, Inc. has a one year low of $127.60 and a one year high of $177.50. The firm has a market cap of $207.21 billion, a P/E ratio of 28.81, a P/E/G ratio of 3.62 and a beta of 0.46.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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 analyst estimates of $23.91 billion. During the same period in the prior year, the business posted $2.31 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were issued 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 3.8%. 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.