Essex LLC Sells 432 Shares of PepsiCo, Inc. $PEP

Essex LLC trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,931 shares of the company’s stock after selling 432 shares during the period. Essex LLC’s holdings in PepsiCo were worth $2,104,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in shares of PepsiCo during the 1st quarter valued at $946,978,000. Kingstone Capital Partners Texas LLC acquired a new position in PepsiCo during the 2nd quarter valued at about $460,110,000. Vanguard Group Inc. boosted its holdings in PepsiCo by 1.4% in the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after acquiring an additional 1,802,748 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after acquiring an additional 1,258,198 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of PepsiCo by 14.3% during the first 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 in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Wells Fargo & Company upped their target price on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday. Citigroup decreased their price objective on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday. Finally, Cowen restated a “hold” rating on shares of PepsiCo in a research report on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $156.00.

PepsiCo Stock Up 1.8%

PEP stock opened at $151.54 on Wednesday. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $177.50. 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 firm’s fifty day moving average is $144.96 and its 200 day moving average is $139.27. The firm has a market cap of $207.21 billion, a PE ratio of 28.81, a P/E/G ratio of 3.62 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 the consensus estimate of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

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.