Carnegie Investment Counsel Sells 59,401 Shares of PepsiCo, Inc. $PEP

Carnegie Investment Counsel lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 43.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 78,795 shares of the company’s stock after selling 59,401 shares during the period. Carnegie Investment Counsel’s holdings in PepsiCo were worth $10,404,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in PepsiCo during the first quarter worth about $946,978,000. Kingstone Capital Partners Texas LLC bought a new position in PepsiCo during the second quarter worth about $460,110,000. Vanguard Group Inc. boosted its position in 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. Charles Schwab Investment Management Inc. boosted its position in PepsiCo by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after purchasing an additional 1,258,198 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of PepsiCo by 14.3% in the first quarter. Deutsche Bank AG now owns 9,296,022 shares of the company’s stock valued at $1,393,846,000 after acquiring an additional 1,165,745 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP opened at $151.55 on Friday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $174.00. The firm has a market capitalization of $207.22 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 3.69 and a beta of 0.46. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The business’s 50-day moving average is $145.97 and its two-hundred day moving average is $139.62.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 2.7% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PEP has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Piper Sandler boosted their price objective on shares of PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Citigroup decreased their target price on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. HSBC boosted their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Finally, The Goldman Sachs Group upped their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $156.95.

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.