Keybank National Association OH Sells 27,287 Shares of PepsiCo, Inc. $PEP

Keybank National Association OH decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.8% during the second quarter, Holdings Channel.com reports. The fund owned 934,416 shares of the company’s stock after selling 27,287 shares during the quarter. Keybank National Association OH’s holdings in PepsiCo were worth $123,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nova Wealth Management Inc. purchased a new position in shares of PepsiCo during the 1st quarter valued at $25,000. Elite Financial Inc. purchased a new stake in PepsiCo in the 1st quarter worth $28,000. Legend Financial Advisors Inc. purchased a new stake in PepsiCo in the 2nd quarter worth $29,000. Frazier Financial Advisors LLC increased its stake in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after buying an additional 122 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. increased its stake in PepsiCo by 263.6% in the 2nd 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 currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays increased their price target on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. BNP Paribas Exane cut their price target on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Wells Fargo & Company increased their price target on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research note on Tuesday, October 21st. Finally, Loop Capital set a $164.00 price target on PepsiCo in a research note on Thursday, October 23rd. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $156.95.

PepsiCo Trading Down 2.6%

Shares of PEP stock opened at $146.16 on Thursday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $167.96. 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’s 50-day moving average price is $145.90 and its 200-day moving average price is $139.68. The stock has a market capitalization of $199.85 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $23.91 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. The business’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. Equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo 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.