PepsiCo, Inc. $PEP Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,117,671 shares of the company’s stock after selling 174,449 shares during the period. Truist Financial Corp’s holdings in PepsiCo were worth $147,577,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PEP. Nova Wealth Management Inc. acquired a new stake in PepsiCo in the first quarter valued at $25,000. Elite Financial Inc. purchased a new position in shares of PepsiCo in the 1st quarter valued at about $28,000. Legend Financial Advisors Inc. acquired a new stake in shares of PepsiCo in the second quarter valued at about $29,000. Investment Research & Advisory Group Inc. boosted its holdings in PepsiCo by 263.6% during the second 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. Finally, MorganRosel Wealth Management LLC acquired a new position in PepsiCo during the first quarter worth about $55,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $140.44 on Wednesday. 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 company has a market cap of $192.27 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 3.54 and a beta of 0.46. The company has a 50-day simple moving average of $144.49 and a 200-day simple moving average of $139.54. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $177.50.

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

PepsiCo Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price target on PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. UBS Group decreased their price objective on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Bank of America lowered their price objective on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, July 11th. Finally, Wells Fargo & Company reduced their price target on shares of PepsiCo from $154.00 to $150.00 and set an “equal weight” rating on the stock in a report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.