Whittier Trust Co. Reduces Stake in PepsiCo, Inc. $PEP

Whittier Trust Co. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.7% during the second quarter, Holdings Channel reports. The fund owned 110,349 shares of the company’s stock after selling 16,005 shares during the period. Whittier Trust Co.’s holdings in PepsiCo were worth $14,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Claris Advisors LLC MO boosted its stake in PepsiCo by 14.1% in the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after acquiring an additional 308 shares during the last quarter. Foster Group Inc. raised its position in shares of PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after purchasing an additional 229 shares during the period. Asset Management One Co. Ltd. raised its position in shares of PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company’s stock valued at $94,598,000 after purchasing an additional 21,859 shares during the period. Ignite Planners LLC raised its position in shares of PepsiCo by 4.2% in the first quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock valued at $566,000 after purchasing an additional 151 shares during the period. Finally, Merit Financial Group LLC raised its position in shares of PepsiCo by 46.4% in the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after purchasing an additional 36,239 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of several research reports. Rothschild & Co Redburn boosted their price target on shares of PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research report on Monday, October 13th. Citigroup lowered their price target on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. BNP Paribas Exane decreased their target price on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. HSBC upped their target price on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Finally, Cowen reaffirmed a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $156.00.

PepsiCo Stock Performance

PepsiCo stock opened at $153.64 on Tuesday. The firm’s 50 day simple moving average is $145.69 and its 200 day simple moving average is $139.29. The firm has a market capitalization of $210.08 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 3.74 and a beta of 0.46. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $177.50. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

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

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were issued a $1.4225 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.7%. PepsiCo’s dividend payout ratio is presently 108.17%.

PepsiCo Company 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.