Patten Group Inc. Sells 444 Shares of PepsiCo, Inc. $PEP

Patten Group Inc. lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,656 shares of the company’s stock after selling 444 shares during the quarter. Patten Group Inc.’s holdings in PepsiCo were worth $2,199,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of PepsiCo in the 1st quarter valued at approximately $946,978,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $460,110,000. Vanguard Group Inc. raised its position in shares of PepsiCo by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after acquiring an additional 1,802,748 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of PepsiCo by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock valued at $3,969,698,000 after acquiring an additional 1,258,198 shares during the period. Finally, Deutsche Bank AG raised its position in shares of PepsiCo by 14.3% in the 1st quarter. Deutsche Bank AG now owns 9,296,022 shares of the company’s stock valued at $1,393,846,000 after acquiring an additional 1,165,745 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $153.18 on Wednesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The company has a market capitalization of $209.45 billion, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 3.74 and a beta of 0.46. The company’s 50 day moving average price is $145.82 and its two-hundred day moving average price is $139.39. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $174.95.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. During the same period last year, the company earned $2.31 earnings per share. The firm’s 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. On average, analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were issued a $1.4225 dividend. The ex-dividend date was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.7%. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of analyst reports. Bank of America increased their price target on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. The Goldman Sachs Group increased their price target on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Morgan Stanley increased their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Piper Sandler raised their target price on shares of PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Finally, UBS Group dropped their target price on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Seven 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.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $156.58.

PepsiCo Company 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.