First Foundation Advisors Has $2.34 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

06 Dec 2023, 14:18 by Amy Steele · The Cerbat Gem

First Foundation Advisors decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 8.8% during the second quarter, Holdings Channel.com reports. The firm owned 12,640 shares of the company’s stock after selling 1,215 shares during the period. First Foundation Advisors’ holdings in PepsiCo were worth $2,341,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PEP. Avion Wealth increased its holdings in PepsiCo by 70.6% in the second quarter. Avion Wealth now owns 145 shares of the company’s stock worth $25,000 after buying an additional 60 shares during the last quarter. Spotlight Asset Group Inc. bought a new stake in shares of PepsiCo in the second quarter valued at approximately $27,000. Pacific Center for Financial Services bought a new stake in shares of PepsiCo in the first quarter valued at approximately $47,000. GW&K Investment Management LLC bought a new stake in shares of PepsiCo in the first quarter valued at approximately $55,000. Finally, Alpha Paradigm Partners LLC bought a new position in PepsiCo in the third quarter worth $66,000. Institutional investors and hedge funds own 71.40% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Hugh F. Johnston sold 48,388 shares of PepsiCo stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $166.65, for a total transaction of $8,063,860.20. Following the transaction, the chief financial officer now owns 96,627 shares in the company, valued at approximately $16,102,889.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on PepsiCo from $188.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, October 11th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 target price for the company in a research note on Thursday, October 19th. Wells Fargo & Company raised their target price on PepsiCo from $170.00 to $172.00 in a research note on Wednesday, October 11th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. Finally, Citigroup lowered their target price on PepsiCo from $200.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, October 11th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.57.

Check Out Our Latest Research Report on PepsiCo

PepsiCo Price Performance

Shares of PEP opened at $167.93 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.71 and a debt-to-equity ratio of 1.89. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $196.88. The stock has a market cap of $230.88 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56. The stock’s 50-day moving average price is $165.35 and its two-hundred day moving average price is $176.77.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued its earnings results on Tuesday, October 10th. The company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.10. PepsiCo had a return on equity of 58.28% and a net margin of 9.05%. The firm had revenue of $23.45 billion for the quarter, compared to analysts’ expectations of $23.41 billion. During the same quarter last year, the business earned $1.97 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. On average, equities analysts predict that PepsiCo, Inc. will post 7.55 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 1st will be issued a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Thursday, November 30th. PepsiCo’s dividend payout ratio (DPR) is currently 84.33%.

PepsiCo Profile

(Free Report)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.