First Merchants Corp Lowers Holdings in PepsiCo, Inc. $PEP

First Merchants Corp trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 54,746 shares of the company’s stock after selling 6,481 shares during the period. First Merchants Corp’s holdings in PepsiCo were worth $7,229,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Massachusetts Wealth Management lifted its stake in PepsiCo by 1.4% during the second quarter. Massachusetts Wealth Management now owns 13,493 shares of the company’s stock worth $1,782,000 after purchasing an additional 187 shares in the last quarter. Clear Creek Financial Management LLC lifted its stake in PepsiCo by 8.9% during the second quarter. Clear Creek Financial Management LLC now owns 7,871 shares of the company’s stock worth $1,039,000 after purchasing an additional 643 shares in the last quarter. Dohj LLC acquired a new position in PepsiCo during the second quarter worth $395,000. Hall Capital Management Co. Inc. lifted its stake in PepsiCo by 2.3% during the second quarter. Hall Capital Management Co. Inc. now owns 27,367 shares of the company’s stock worth $3,614,000 after purchasing an additional 611 shares in the last quarter. Finally, Detalus Advisors LLC lifted its stake in PepsiCo by 18.6% during the second quarter. Detalus Advisors LLC now owns 12,155 shares of the company’s stock worth $1,605,000 after purchasing an additional 1,910 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Cowen restated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. UBS Group decreased their price target on PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PepsiCo in a research note on Saturday, September 27th. Royal Bank Of Canada reduced their price objective on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research note on Monday, September 15th. Finally, Barclays reiterated a “cautious” rating on shares of PepsiCo in a research note on Friday, October 3rd. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $158.13.

PepsiCo Stock Down 1.4%

PepsiCo stock opened at $138.84 on Thursday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $177.50. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The stock has a market cap of $190.08 billion, a PE ratio of 25.29, a P/E/G ratio of 3.55 and a beta of 0.46. The stock’s fifty day moving average is $144.18 and its two-hundred day moving average is $139.30.

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

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th were issued a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.1%. PepsiCo’s dividend payout ratio (DPR) is presently 103.64%.

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.