Zullo Investment Group Inc. Trims Position in PepsiCo, Inc. $PEP

Zullo Investment Group Inc. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.0% during the 2nd quarter, Holdings Channel reports. The fund owned 7,450 shares of the company’s stock after selling 233 shares during the quarter. Zullo Investment Group Inc.’s holdings in PepsiCo were worth $984,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. First Fiduciary Investment Counsel Inc. raised its holdings in shares of PepsiCo by 15.3% during the 2nd quarter. First Fiduciary Investment Counsel Inc. now owns 2,260 shares of the company’s stock worth $298,000 after acquiring an additional 300 shares during the period. JB Capital LLC raised its holdings in shares of PepsiCo by 8.2% during the 2nd quarter. JB Capital LLC now owns 72,881 shares of the company’s stock worth $9,623,000 after acquiring an additional 5,533 shares during the period. Blue Trust Inc. raised its holdings in shares of PepsiCo by 3.2% during the 2nd quarter. Blue Trust Inc. now owns 43,220 shares of the company’s stock worth $5,707,000 after acquiring an additional 1,328 shares during the period. Fourpath Capital Management LLC raised its holdings in shares of PepsiCo by 2.3% during the 2nd quarter. Fourpath Capital Management LLC now owns 30,693 shares of the company’s stock worth $4,053,000 after acquiring an additional 681 shares during the period. Finally, Thompson Investment Management Inc. raised its holdings in shares of PepsiCo by 3.9% during the 2nd quarter. Thompson Investment Management Inc. now owns 72,636 shares of the company’s stock worth $9,591,000 after acquiring an additional 2,694 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of a number of recent analyst reports. UBS Group cut their price objective on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Barclays raised their price objective on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday. Citigroup cut their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Royal Bank Of Canada cut their price objective on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. Finally, Bank of America cut their price objective on PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. Five equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $158.25.

PepsiCo Stock Performance

NASDAQ PEP opened at $150.08 on Friday. The company has a market cap of $205.47 billion, a P/E ratio of 28.53, a P/E/G ratio of 3.62 and a beta of 0.46. 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 stock has a 50-day moving average of $144.53 and a two-hundred day moving average of $139.32. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $177.50.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a return on equity of 58.46% and a net margin of 7.82%.PepsiCo’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business 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 of this dividend was Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s payout ratio is currently 103.64%.

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.