Bessemer Group Inc. Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Bessemer Group Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,631 shares of the company's stock after selling 46,678 shares during the period. Bessemer Group Inc.'s holdings in PepsiCo were worth $70,044,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after buying an additional 1,376,133 shares during the period. Geode Capital Management LLC lifted its holdings in shares of PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock worth $4,717,069,000 after purchasing an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares in the last quarter. Norges Bank acquired a new position in PepsiCo during the fourth quarter worth $2,729,565,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of PepsiCo by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company's stock valued at $2,130,841,000 after buying an additional 689,383 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of research firms recently weighed in on PEP. BNP Paribas lowered their target price on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. CICC Research reaffirmed a "market perform" rating on shares of PepsiCo in a research report on Friday, February 7th. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price objective on the stock. Citigroup lowered their price target on shares of PepsiCo from $195.00 to $170.00 and set a "buy" rating on the stock in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and lowered their target price for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, PepsiCo has a consensus rating of "Hold" and a consensus price target of $169.88.

PepsiCo Trading Up 0.5 %

NASDAQ:PEP traded up $0.75 during mid-day trading on Monday, reaching $145.18. 1,840,599 shares of the company's stock traded hands, compared to its average volume of 6,071,732. The firm has a market capitalization of $199.09 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a 12-month low of $138.33 and a 12-month high of $183.41. The company has a 50 day moving average price of $148.37 and a 200-day moving average price of $155.68. 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 issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.78 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Friday, March 7th. 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.