Auto Owners Insurance Co Reduces Stock Holdings in PepsiCo, Inc. $PEP

Auto Owners Insurance Co trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 20.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 329,278 shares of the company’s stock after selling 84,622 shares during the period. PepsiCo comprises 1.0% of Auto Owners Insurance Co’s portfolio, making the stock its 26th biggest holding. Auto Owners Insurance Co’s holdings in PepsiCo were worth $43,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PEP. Vanguard Group Inc. raised its stake in shares of PepsiCo by 1.4% in the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after buying an additional 1,802,748 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after buying an additional 1,258,198 shares during the period. Bank of New York Mellon Corp raised its stake in shares of PepsiCo by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company’s stock worth $2,108,585,000 after buying an additional 49,699 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of PepsiCo by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock worth $1,728,180,000 after buying an additional 208,292 shares during the period. Finally, Invesco Ltd. raised its stake in shares of PepsiCo by 4.5% in the first quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock worth $1,698,544,000 after buying an additional 491,894 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler raised their price objective on PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Cowen reissued a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Royal Bank Of Canada decreased their target price on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research note on Monday, September 15th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $157.00 to $151.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Finally, Jefferies Financial Group lifted their target price on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Seven 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. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target of $156.95.

PepsiCo Stock Performance

NASDAQ:PEP opened at $150.12 on Wednesday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $169.20. The stock’s 50 day simple moving average is $145.99 and its two-hundred day simple moving average is $139.66. The company has a market cap of $205.27 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.71 and a beta of 0.46.

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

PepsiCo 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.