Hartford Investment Management Co. Has $10.90 Million Holdings in PepsiCo, Inc. $PEP

Hartford Investment Management Co. lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,575 shares of the company’s stock after selling 1,075 shares during the period. Hartford Investment Management Co.’s holdings in PepsiCo were worth $10,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nova Wealth Management Inc. bought a new stake in PepsiCo in the 1st quarter worth about $25,000. Elite Financial Inc. bought a new stake in PepsiCo in the 1st quarter worth about $28,000. MorganRosel Wealth Management LLC bought a new stake in PepsiCo in the 1st quarter worth about $55,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in PepsiCo in the 1st quarter worth about $58,000. Finally, Greykasell Wealth Strategies Inc. bought a new stake in PepsiCo in the 1st quarter worth about $58,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 1.6%

PEP opened at $139.92 on Friday. The company has a 50 day moving average of $144.68 and a 200 day moving average of $139.79. The company has a market cap of $191.56 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.59 and a beta of 0.46. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $177.50. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. PepsiCo’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $2.28 EPS. 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 year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $1.4225 dividend. The ex-dividend date is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 4.1%. PepsiCo’s dividend payout ratio is currently 103.64%.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. UBS Group reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Cowen reissued a “hold” rating on shares of PepsiCo in a research report on Thursday, July 17th. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a research report on Thursday, July 17th. Four 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. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $158.13.

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.