PepsiCo, Inc. $PEP Stock Position Lowered by Asset Management Group Inc.

Asset Management Group Inc. lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 9.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,750 shares of the company’s stock after selling 3,698 shares during the period. Asset Management Group Inc.’s holdings in PepsiCo were worth $4,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEP. Swiss RE Ltd. bought a new stake in shares of PepsiCo in the 4th quarter worth $28,000. MH & Associates Securities Management Corp ADV bought a new stake in shares of PepsiCo in the 4th quarter worth $29,000. Imprint Wealth LLC acquired a new position in shares of PepsiCo in the 3rd quarter worth $31,000. Strategic Advocates LLC acquired a new position in shares of PepsiCo in the 3rd quarter worth $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of PepsiCo in the 4th quarter worth $33,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo News Summary

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced its 54th consecutive annual dividend increase, reinforcing its appeal as a defensive, income-generating stock at a time when Treasury yields are elevated. PepsiCo’s 3.9% Yield Is a Safe-Haven Masterclass
• Positive Sentiment: PepsiCo debuted a new limited-edition soda, which could help drive short-term consumer interest and support beverage sales. PepsiCo just debuted a new limited-edition soda that’s guaranteed to sell out
• Positive Sentiment: PepsiCo continues to highlight future growth initiatives, including experiential drinks and regenerative farming partnerships, which suggest management is still investing in new revenue streams. PepsiCo Targets Experiential Drinks And Regenerative Farming For Future Growth
• Neutral Sentiment: PepsiCo senior director Maneesha Khanna stepped down after 13 years; this looks like a personnel change rather than a material business event. PepsiCo Senior Director Maneesha Khanna steps down after 13 years
• Neutral Sentiment: PepsiCo was mentioned in articles about broader S&P 500 ideas and sustainability events, but those items do not appear to change the company’s near-term fundamentals. Sustainability LIVE Announces Final Week to Register for The Leadership Summit
• Negative Sentiment: Piper Sandler lowered its price target on PepsiCo, which can weigh on sentiment by signaling a more cautious outlook for the stock’s upside. PepsiCo (PEP) Price Target Lowered at Piper Sandler. Here is Why

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEP. Wall Street Zen cut PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Argus upgraded PepsiCo to a “hold” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. lifted their target price on PepsiCo from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a report on Wednesday, April 8th. Finally, Sanford C. Bernstein started coverage on PepsiCo in a report on Thursday, June 11th. They set a “market perform” rating and a $143.00 price target on the stock. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $167.35.

PepsiCo Price Performance

PEP opened at $146.12 on Wednesday. The stock has a market cap of $199.71 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 2.65 and a beta of 0.35. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $171.48. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. The stock has a fifty day moving average price of $150.68 and a 200 day moving average price of $152.40.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 earnings per share. Analysts forecast that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a yield of 4.1%. PepsiCo’s payout ratio is 92.94%.

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.