Cross Staff Investments Inc Trims Holdings in PepsiCo, Inc. $PEP

Cross Staff Investments Inc cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,980 shares of the company’s stock after selling 100 shares during the quarter. Cross Staff Investments Inc’s holdings in PepsiCo were worth $922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEP. Nuveen LLC purchased a new stake in shares of PepsiCo in the 1st quarter worth about $946,978,000. Kingstone Capital Partners Texas LLC purchased a new stake in PepsiCo during the 2nd quarter valued at about $460,110,000. Vanguard Group Inc. grew its position in PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after purchasing an additional 1,802,748 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in PepsiCo by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock valued at $3,969,698,000 after purchasing an additional 1,258,198 shares during the last quarter. Finally, Deutsche Bank AG grew its position in PepsiCo by 14.3% during the 1st quarter. Deutsche Bank AG now owns 9,296,022 shares of the company’s stock valued at $1,393,846,000 after purchasing an additional 1,165,745 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 3.7%

PEP stock opened at $150.08 on Friday. The firm has a fifty day moving average price of $144.53 and a 200 day moving average price of $139.32. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $177.50. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The firm has a market cap of $205.47 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 3.62 and a beta of 0.46.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 58.46%. The firm had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same period last year, the firm posted $2.31 earnings per share. PepsiCo’s revenue for the quarter was up 2.7% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, September 5th. PepsiCo’s payout ratio is presently 103.64%.

Analysts Set New Price Targets

PEP has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley raised their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Wells Fargo & Company raised their target price on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research note on Friday. UBS Group decreased their target price on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, Jefferies Financial Group increased their price objective on shares of PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a report on Friday. Five investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $158.25.

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.