Cornerstone Wealth Group LLC Boosts Position in PepsiCo, Inc. $PEP

Cornerstone Wealth Group LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,371 shares of the company’s stock after buying an additional 2,060 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in PepsiCo were worth $10,612,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Claris Advisors LLC MO grew its holdings in PepsiCo by 14.1% during the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after buying an additional 308 shares in the last quarter. Foster Group Inc. grew its holdings in shares of PepsiCo by 4.6% during the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock worth $683,000 after purchasing an additional 229 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of PepsiCo by 3.6% during the first 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 in the last quarter. Ignite Planners LLC grew its holdings in shares of PepsiCo by 4.2% during the first quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock worth $566,000 after purchasing an additional 151 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in shares of PepsiCo by 46.4% during the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock worth $15,098,000 after purchasing an additional 36,239 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $148.89 on Tuesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $177.50. The stock has a 50 day moving average price of $144.72 and a two-hundred day moving average price of $139.18. The company has a market capitalization of $203.58 billion, a P/E ratio of 28.31, a PEG ratio of 3.75 and a beta of 0.46.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were given a $1.4225 dividend. The ex-dividend date was Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 3.8%. PepsiCo’s payout ratio is presently 108.17%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PEP. HSBC boosted their price objective on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday. BNP Paribas Exane cut their price objective on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Bank of America boosted their price objective on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday. Barclays boosted their price objective on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PepsiCo in a research note on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $157.75.

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.