Chemung Canal Trust Co. Reduces Holdings in PepsiCo, Inc. $PEP

Chemung Canal Trust Co. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,117 shares of the company’s stock after selling 5,046 shares during the period. Chemung Canal Trust Co.’s holdings in PepsiCo were worth $4,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Claris Advisors LLC MO increased its position in shares of PepsiCo by 14.1% in the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after purchasing an additional 308 shares during the last quarter. Foster Group Inc. increased its position in shares of PepsiCo by 4.6% in the 2nd quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock worth $683,000 after purchasing an additional 229 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of PepsiCo by 3.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company’s stock worth $94,598,000 after purchasing an additional 21,859 shares during the last quarter. Ignite Planners LLC increased its position in shares of PepsiCo by 4.2% in the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock worth $566,000 after purchasing an additional 151 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in shares of PepsiCo by 2.5% in the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after purchasing an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. Barclays reaffirmed a “cautious” rating on shares of PepsiCo in a report on Friday. Wells Fargo & Company decreased their price target on shares of PepsiCo from $154.00 to $150.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. UBS Group decreased their price target on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Bank of America decreased their price target on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, July 11th. Finally, Morgan Stanley lifted their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $157.87.

PepsiCo Trading Down 0.2%

PepsiCo stock opened at $141.98 on Friday. The firm has a 50-day moving average price of $144.36 and a two-hundred day moving average price of $139.39. The firm has a market capitalization of $194.38 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 3.58 and a beta of 0.46. 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 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12.

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

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were paid 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 was Friday, September 5th. PepsiCo’s dividend payout ratio is currently 103.64%.

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.