Somerset Trust Co Has $2.82 Million Stake in PepsiCo, Inc. $PEP

Somerset Trust Co grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 21,344 shares of the company’s stock after acquiring an additional 259 shares during the period. Somerset Trust Co’s holdings in PepsiCo were worth $2,818,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of PepsiCo during the first quarter worth approximately $946,978,000. GAMMA Investing LLC increased its stake in shares of PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock worth $688,017,000 after purchasing an additional 4,564,723 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of PepsiCo by 106.1% during the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock worth $527,034,000 after purchasing an additional 1,809,391 shares during the period. Vanguard Group Inc. increased its stake in shares of PepsiCo by 1.4% during the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PepsiCo during the fourth quarter worth approximately $221,297,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PEP. Bank of America lowered their target price on PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, July 11th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $146.00 target price on shares of PepsiCo in a research note on Wednesday, September 3rd. UBS Group lowered their target price on PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. lowered their price objective on PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, July 10th. Four investment 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $158.67.

PepsiCo Price Performance

PepsiCo stock opened at $143.53 on Friday. The stock’s fifty day moving average price is $143.81 and its two-hundred day moving average price is $140.52. The firm has a market cap of $196.50 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $179.43. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.09. The firm had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%.The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo’s dividend payout ratio (DPR) is currently 103.64%.

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.