Envestnet Asset Management Inc. Lowers Stake in PepsiCo, Inc. $PEP

Envestnet Asset Management Inc. reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,354,742 shares of the company’s stock after selling 119,052 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of PepsiCo worth $310,919,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at about $25,000. Elite Financial Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at about $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of PepsiCo in the second quarter valued at about $29,000. Frazier Financial Advisors LLC boosted its holdings in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. boosted its holdings in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after buying an additional 232 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP opened at $151.55 on Monday. The company has a 50-day moving average of $145.97 and a two-hundred day moving average of $139.57. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock has a market cap of $207.22 billion, a P/E ratio of 28.81, a PEG ratio of 3.69 and a beta of 0.46. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $174.00.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PEP shares. Loop Capital set a $164.00 price objective on shares of PepsiCo in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. HSBC boosted their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Bank of America boosted their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Evercore ISI lifted their target price on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.95.

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.