Prasad Wealth Partners LLC Invests $2.26 Million in PepsiCo, Inc. $PEP

Prasad Wealth Partners LLC bought a new position in PepsiCo, Inc. (NASDAQ:PEP) in the 2nd quarter, HoldingsChannel reports. The fund bought 17,127 shares of the company’s stock, valued at approximately $2,261,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nova Wealth Management Inc. acquired a new stake in PepsiCo during the first quarter valued at $25,000. Elite Financial Inc. acquired a new stake in PepsiCo during the first quarter valued at $28,000. Legend Financial Advisors Inc. acquired a new stake in PepsiCo during the second quarter valued at $29,000. Investment Research & Advisory Group Inc. boosted its position in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares during the last quarter. Finally, RMG Wealth Management LLC acquired a new stake in PepsiCo during the second quarter valued at $45,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 1.6%

PepsiCo stock opened at $139.70 on Tuesday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The business’s 50-day simple moving average is $144.32 and its 200-day simple moving average is $139.30. The firm has a market capitalization of $191.26 billion, a PE ratio of 25.45, a PEG ratio of 3.58 and a beta of 0.46. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50.

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

PepsiCo Announces Dividend

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

Wall Street Analyst Weigh In

PEP has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on PepsiCo from $154.00 to $150.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Citigroup reduced their price target on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research report on Monday. UBS Group reduced their price target on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Finally, Cowen reaffirmed a “hold” rating on shares of PepsiCo in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $158.13.

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.