Evercore Wealth Management LLC Sells 8,607 Shares of PepsiCo, Inc. $PEP

Evercore Wealth Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 9.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,696 shares of the company’s stock after selling 8,607 shares during the quarter. Evercore Wealth Management LLC’s holdings in PepsiCo were worth $12,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PEP. Auto Owners Insurance Co increased its position in PepsiCo by 14,857.8% in the 4th quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company’s stock valued at $7,068,777,000 after acquiring an additional 48,923,629 shares during the period. Norges Bank acquired a new position in shares of PepsiCo during the fourth quarter worth $3,018,813,000. Diamant Asset Management Inc. lifted its holdings in shares of PepsiCo by 16,146.5% during the first quarter. Diamant Asset Management Inc. now owns 3,586,423 shares of the company’s stock worth $556,936,000 after purchasing an additional 3,564,348 shares during the period. AQR Capital Management LLC grew its stake in shares of PepsiCo by 120.7% in the third quarter. AQR Capital Management LLC now owns 5,916,417 shares of the company’s stock worth $830,902,000 after purchasing an additional 3,235,726 shares during the last quarter. Finally, Amundi increased its holdings in PepsiCo by 30.0% in the third quarter. Amundi now owns 8,641,588 shares of the company’s stock valued at $1,207,230,000 after purchasing an additional 1,995,362 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PEP shares. Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. JPMorgan Chase & Co. decreased their price target on PepsiCo from $178.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Evercore set a $150.00 price objective on PepsiCo in a research note on Thursday, July 9th. Sanford C. Bernstein set a $134.00 target price on PepsiCo in a report on Friday, July 10th. Finally, HSBC increased their target price on shares of PepsiCo from $175.00 to $176.00 and gave the company a “hold” rating in a research report on Friday, April 17th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $157.90.

PepsiCo Stock Performance

Shares of PEP opened at $139.79 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 1.91. The firm’s fifty day simple moving average is $141.93 and its two-hundred day simple moving average is $151.01. PepsiCo, Inc. has a 12 month low of $133.73 and a 12 month high of $171.48. The stock has a market capitalization of $190.80 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.36.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 9th. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.01. PepsiCo had a return on equity of 54.63% and a net margin of 10.78%.The business had revenue of $24.18 billion during the quarter, compared to the consensus estimate of $23.95 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. As a group, analysts predict that PepsiCo, Inc. will post 8.57 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.48 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. PepsiCo’s dividend payout ratio (DPR) is currently 77.59%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.