PepsiCo, Inc. $PEP Stock Holdings Trimmed by Eagle Global Advisors LLC

Eagle Global Advisors LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 18.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,430 shares of the company’s stock after selling 8,985 shares during the quarter. Eagle Global Advisors LLC’s holdings in PepsiCo were worth $5,538,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of PepsiCo in the second quarter valued at approximately $2,330,594,000. Laurel Wealth Advisors LLC increased its stake in PepsiCo by 14,420.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after purchasing an additional 3,863,893 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $460,110,000. Charles Schwab Investment Management Inc. boosted its position in shares of PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after buying an additional 2,556,163 shares during the period. Finally, Franklin Resources Inc. grew its stake in PepsiCo by 19.5% during the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after acquiring an additional 2,541,455 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PEP shares. Rothschild & Co Redburn upped their price target on shares of PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a research note on Monday, December 15th. Piper Sandler raised their price target on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Loop Capital set a $164.00 price target on shares of PepsiCo in a research report on Thursday, October 23rd. Bank of America raised their target price on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, Wells Fargo & Company raised their target price on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research report on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $158.58.

PepsiCo Trading Up 1.7%

Shares of PEP opened at $145.92 on Thursday. The firm has a market capitalization of $199.52 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 4.70 and a beta of 0.42. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The stock’s fifty day simple moving average is $145.45 and its 200-day simple moving average is $144.49.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were given a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.