PepsiCo, Inc. $PEP Shares Sold by M&G PLC

M&G PLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEPFree Report) by 51.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 12,867 shares of the company’s stock after selling 13,610 shares during the quarter. M&G PLC’s holdings in PepsiCo were worth $1,801,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Clayton Financial Group LLC purchased a new position in PepsiCo during the third quarter worth approximately $872,000. Avantax Advisory Services Inc. increased its stake in shares of PepsiCo by 2.6% in the 2nd quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock worth $24,554,000 after acquiring an additional 4,627 shares during the last quarter. Family Capital Management Inc. purchased a new position in shares of PepsiCo during the 2nd quarter worth $401,000. Kathmere Capital Management LLC boosted its position in shares of PepsiCo by 122.6% during the 3rd quarter. Kathmere Capital Management LLC now owns 20,365 shares of the company’s stock valued at $2,860,000 after acquiring an additional 11,217 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of PepsiCo by 9.7% in the second quarter. Pinnacle Associates Ltd. now owns 152,193 shares of the company’s stock valued at $20,096,000 after purchasing an additional 13,517 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. TD Cowen lifted their price target on shares of PepsiCo from $155.00 to $162.00 and gave the company a “hold” rating in a research report on Wednesday, February 4th. Jefferies Financial Group upped their price objective on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a report on Tuesday, December 9th. Morgan Stanley raised their target price on PepsiCo from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Finally, Citigroup lifted their target price on PepsiCo from $170.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $167.83.

Read Our Latest Stock Report on PepsiCo

PepsiCo Stock Down 2.4%

PepsiCo stock opened at $161.92 on Wednesday. The company has a market capitalization of $221.29 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 3.16 and a beta of 0.40. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.67 and a current ratio of 0.85. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The firm has a 50 day moving average price of $150.36 and a 200 day moving average price of $147.51.

PepsiCo (NASDAQ:PEPGet Free Report) last released its quarterly earnings results on Monday, February 2nd. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. The business had revenue of $29.34 billion during the quarter, compared to analyst estimates of $28.96 billion. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the business posted $1.96 earnings per share. Research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, March 6th. PepsiCo’s dividend payout ratio is currently 94.83%.

PepsiCo announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 3rd that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

About PepsiCo

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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