AXQ Capital LP Acquires Shares of 8,697 PepsiCo, Inc. (NASDAQ:PEP)

AXQ Capital LP purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,697 shares of the company's stock, valued at approximately $1,322,000. PepsiCo makes up approximately 0.6% of AXQ Capital LP's holdings, making the stock its 28th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its stake in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company's stock worth $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. Howard Capital Management Group LLC lifted its position in PepsiCo by 2.0% during the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company's stock worth $777,000 after buying an additional 90 shares in the last quarter. LPL Financial LLC increased its stake in shares of PepsiCo by 8.4% in the 3rd quarter. LPL Financial LLC now owns 1,844,337 shares of the company's stock worth $313,629,000 after acquiring an additional 142,191 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of PepsiCo by 1.7% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 64,562 shares of the company's stock valued at $10,979,000 after acquiring an additional 1,086 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of PepsiCo by 7.9% in the third quarter. Pacer Advisors Inc. now owns 216,856 shares of the company's stock valued at $36,876,000 after purchasing an additional 15,821 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several equities analysts have weighed in on the stock. TD Cowen decreased their target price on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 target price on the stock. BNP Paribas reduced their price target on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $183.00 to $165.00 and set a "neutral" rating for the company in a research report on Friday, January 24th. Finally, StockNews.com lowered PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo currently has an average rating of "Hold" and a consensus target price of $169.88.

PepsiCo Stock Up 2.1 %

Shares of PEP traded up $3.10 during midday trading on Wednesday, reaching $148.64. The stock had a trading volume of 5,881,682 shares, compared to its average volume of 5,426,476. The company has a market cap of $203.86 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.09 and a beta of 0.52. The company's fifty day simple moving average is $149.09 and its two-hundred day simple moving average is $158.50. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion for the quarter, compared to analysts' expectations of $27.89 billion. During the same period last year, the firm earned $1.78 earnings per share. PepsiCo's quarterly revenue was down .2% on a year-over-year basis. Equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.65%. PepsiCo's dividend payout ratio is currently 77.99%.

About PepsiCo

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.