Agate Pass Investment Management LLC Decreases Stock Position in PepsiCo, Inc. $PEP

Agate Pass Investment Management LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,458 shares of the company’s stock after selling 1,144 shares during the quarter. PepsiCo accounts for 1.2% of Agate Pass Investment Management LLC’s portfolio, making the stock its 29th largest position. Agate Pass Investment Management LLC’s holdings in PepsiCo were worth $2,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after acquiring an additional 6,574 shares during the last quarter. GAMMA Investing LLC boosted its stake in PepsiCo by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 30,603 shares of the company’s stock valued at $4,589,000 after acquiring an additional 6,712 shares during the last quarter. Simon Quick Advisors LLC boosted its stake in PepsiCo by 41.8% during the 1st quarter. Simon Quick Advisors LLC now owns 8,512 shares of the company’s stock valued at $1,276,000 after acquiring an additional 2,508 shares during the last quarter. Ballew Advisors Inc bought a new position in PepsiCo during the 1st quarter valued at $857,000. Finally, Rockland Trust Co. boosted its stake in PepsiCo by 9.2% during the 1st quarter. Rockland Trust Co. now owns 310,790 shares of the company’s stock valued at $46,600,000 after acquiring an additional 26,173 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 3.7%

PepsiCo stock opened at $150.08 on Friday. The stock has a market cap of $205.47 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 3.62 and a beta of 0.46. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The company’s 50-day moving average price is $144.53 and its two-hundred day moving average price is $139.32. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $177.50.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 58.46%. The firm had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. During the same quarter last year, the company earned $2.31 EPS. PepsiCo’s quarterly revenue was up 2.7% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is 103.64%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PEP. Cowen reiterated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Evercore ISI raised their price target on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday. Piper Sandler raised their price target on shares of PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group raised their price target on shares of PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Barclays raised their price target on shares of PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday. Five analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $158.25.

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.