Balentine LLC Trims Stock Holdings in PepsiCo, Inc. $PEP

Balentine LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 52.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,778 shares of the company’s stock after selling 4,134 shares during the quarter. Balentine LLC’s holdings in PepsiCo were worth $499,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Nova Wealth Management Inc. bought a new stake in PepsiCo during the 1st quarter valued at $25,000. Elite Financial Inc. acquired a new position in PepsiCo in the 1st quarter worth about $28,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo in the 2nd quarter worth about $29,000. Frazier Financial Advisors LLC increased its position in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. increased its position in 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 purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $146.09 on Friday. The business has a 50 day moving average price of $145.80 and a 200 day moving average price of $139.73. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $167.96. The company has a market cap of $199.75 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 3.56 and a beta of 0.46. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, October 9th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter last year, the company earned $2.31 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PEP. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research note on Tuesday, October 21st. Rothschild & Co Redburn upped their price target on PepsiCo from $115.00 to $117.00 and gave the stock a “sell” rating in a research note on Monday, October 13th. Morgan Stanley upped their price target on PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Piper Sandler raised their price target on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Finally, The Goldman Sachs Group raised their price target on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $156.95.

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.