PepsiCo, Inc. $PEP Shares Sold by Connors Investor Services Inc.

Connors Investor Services Inc. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,074 shares of the company’s stock after selling 1,221 shares during the quarter. PepsiCo comprises 1.6% of Connors Investor Services Inc.’s portfolio, making the stock its 20th largest position. Connors Investor Services Inc.’s holdings in PepsiCo were worth $17,967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new stake in PepsiCo during the first quarter valued at approximately $25,000. Elite Financial Inc. acquired a new stake in shares of PepsiCo during the 1st quarter worth approximately $28,000. Legend Financial Advisors Inc. acquired a new stake in shares of PepsiCo during the 2nd quarter worth approximately $29,000. Frazier Financial Advisors LLC raised its position in shares of PepsiCo by 85.3% during 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 period. Finally, RMG Wealth Management LLC acquired a new stake in shares of PepsiCo during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PEP. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. Evercore ISI increased their price objective on PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Cowen reissued a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Jefferies Financial Group increased their price objective on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Seven investment 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.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $156.58.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $153.03 on Thursday. The firm has a market cap of $209.24 billion, a P/E ratio of 29.09, a PEG ratio of 3.73 and a beta of 0.46. 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 stock has a fifty day moving average price of $145.89 and a two-hundred day moving average price of $139.49. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $174.00.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. The business 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%.The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

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.