Cortland Associates Inc. MO Sells 545 Shares of PepsiCo, Inc. $PEP

Cortland Associates Inc. MO lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 24.9% during the 2nd quarter, Holdings Channel reports. The fund owned 1,640 shares of the company’s stock after selling 545 shares during the period. Cortland Associates Inc. MO’s holdings in PepsiCo were worth $217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of PepsiCo in the 1st quarter worth $946,978,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of PepsiCo in the 2nd quarter worth $460,110,000. Assenagon Asset Management S.A. boosted its position in shares of PepsiCo by 106.1% in the 1st 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of PepsiCo by 1.4% in the 1st 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PepsiCo by 5.0% in the 1st 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 in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $140.79 on Wednesday. The stock has a market cap of $192.75 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 3.53 and a beta of 0.46. The business has a 50-day simple moving average of $144.26 and a 200-day simple moving average of $139.31. 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, Inc. has a 52-week low of $127.60 and a 52-week high of $177.50.

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

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, September 5th. PepsiCo’s payout ratio is currently 103.64%.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Royal Bank Of Canada lowered their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. Barclays reaffirmed a “cautious” rating on shares of PepsiCo in a research report on Friday. Morgan Stanley lifted their price target on PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company lowered their price target on PepsiCo from $154.00 to $150.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $158.13.

About PepsiCo

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.