Connable Office Inc. Increases Stake in PepsiCo, Inc. $PEP

Connable Office Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,223 shares of the company’s stock after buying an additional 747 shares during the period. Connable Office Inc.’s holdings in PepsiCo were worth $2,142,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in PepsiCo by 1.4% during 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock valued at $3,969,698,000 after buying an additional 1,258,198 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 valued at $1,728,180,000 after buying an additional 208,292 shares in the last quarter. Invesco Ltd. lifted its position 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. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of PepsiCo by 9.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,878,718 shares of the company’s stock worth $1,631,155,000 after buying an additional 923,766 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEP. Citigroup lowered their price target on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Jefferies Financial Group raised their price target on shares of PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Bank of America raised their price objective 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. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a report on Tuesday, October 21st. Finally, Piper Sandler lifted their price target on shares of PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Performance

PepsiCo stock opened at $143.60 on Tuesday. 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, Inc. has a 1 year low of $127.60 and a 1 year high of $167.96. The company’s 50-day moving average is $145.71 and its two-hundred day moving average is $139.71. The company has a market cap of $196.35 billion, a PE ratio of 27.30, a PEG ratio of 3.56 and a beta of 0.46.

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 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 firm had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. The business’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. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

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.