Drive Wealth Management LLC Buys 321 Shares of PepsiCo, Inc. $PEP

Drive Wealth Management LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,941 shares of the company’s stock after purchasing an additional 321 shares during the quarter. Drive Wealth Management LLC’s holdings in PepsiCo were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PEP. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo in the 1st quarter worth about $25,000. Elite Financial Inc. bought a new stake in PepsiCo during the first quarter worth about $28,000. Legend Financial Advisors Inc. purchased a new stake in PepsiCo in the second quarter worth about $29,000. Frazier Financial Advisors LLC increased its stake in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. Finally, RMG Wealth Management LLC purchased a new position in shares of PepsiCo during the second quarter valued at approximately $45,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of analyst reports. Citigroup reduced their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Barclays raised their price target on PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Royal Bank Of Canada dropped their price target on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research note on Monday, September 15th. Morgan Stanley lifted their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. Six 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $156.00.

PepsiCo Stock Performance

Shares of PEP stock opened at $153.64 on Tuesday. The firm has a market capitalization of $210.08 billion, a PE ratio of 29.21, a P/E/G ratio of 3.74 and a beta of 0.46. The company has a 50 day moving average price of $145.69 and a 200-day moving average price of $139.29. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50. 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 issued its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were issued a $1.4225 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.7%. PepsiCo’s dividend payout ratio is currently 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.