New York Life Investment Management LLC Acquires 2,402 Shares of PepsiCo, Inc. $PEP

New York Life Investment Management LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,337 shares of the company’s stock after buying an additional 2,402 shares during the quarter. New York Life Investment Management LLC’s holdings in PepsiCo were worth $27,113,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Pavion Blue Capital LLC raised its holdings in shares of PepsiCo by 0.3% in the second quarter. Pavion Blue Capital LLC now owns 41,889 shares of the company’s stock valued at $5,531,000 after buying an additional 118 shares during the last quarter. Boyd Watterson Asset Management LLC OH raised its holdings in shares of PepsiCo by 6.5% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 17,733 shares of the company’s stock valued at $2,342,000 after buying an additional 1,088 shares during the last quarter. Howard Capital Management Inc. raised its holdings in shares of PepsiCo by 13.6% in the second quarter. Howard Capital Management Inc. now owns 41,348 shares of the company’s stock valued at $5,460,000 after buying an additional 4,952 shares during the last quarter. Purkiss Capital Advisors LLC bought a new position in shares of PepsiCo in the second quarter valued at about $323,000. Finally, William Allan Corp raised its holdings in PepsiCo by 27.4% during the 2nd quarter. William Allan Corp now owns 27,612 shares of the company’s stock worth $3,646,000 after purchasing an additional 5,940 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP stock opened at $152.63 on Tuesday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The stock has a market cap of $208.70 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 3.69 and a beta of 0.46. The stock has a 50-day moving average of $146.03 and a 200-day moving average of $139.62. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $172.98.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on PEP shares. UBS Group dropped their price objective on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Jefferies Financial Group boosted their price objective on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Evercore ISI boosted their price objective on PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Finally, The Goldman Sachs Group boosted their price objective on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.