Broderick Brian C Sells 2,940 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Broderick Brian C reduced its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,238 shares of the company's stock after selling 2,940 shares during the quarter. Broderick Brian C's holdings in PepsiCo were worth $2,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after acquiring an additional 1,376,133 shares during the last quarter. State Street Corp boosted its position in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company's stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the period. Geode Capital Management LLC increased its holdings in shares of PepsiCo by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock worth $4,717,069,000 after buying an additional 582,254 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of PepsiCo by 18.1% in 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 acquiring an additional 3,856,193 shares during the last quarter. Finally, Norges Bank bought a new position in PepsiCo during the 4th quarter worth approximately $2,729,565,000. 73.07% of the stock is currently owned by institutional investors.

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PepsiCo Stock Down 3.1 %

PepsiCo stock traded down $4.76 during mid-day trading on Friday, reaching $146.61. The stock had a trading volume of 12,910,000 shares, compared to its average volume of 5,945,353. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a 50-day moving average price of $149.33 and a two-hundred day moving average price of $157.07. The company has a market capitalization of $201.05 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 3.09 and a beta of 0.49. 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 earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm 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 business's revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Friday, March 7th. PepsiCo's payout ratio is 77.99%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PEP shares. Evercore ISI lowered their price objective on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Citigroup dropped their price objective on PepsiCo from $195.00 to $170.00 and set a "buy" rating for the company in a report on Wednesday, February 5th. Piper Sandler started coverage on PepsiCo in a report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 target price for the company. StockNews.com downgraded shares of PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $183.00 to $165.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $169.88.

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.