Corebridge Financial Inc. Has $61.52 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Corebridge Financial Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 404,547 shares of the company's stock after selling 19,289 shares during the period. Corebridge Financial Inc.'s holdings in PepsiCo were worth $61,515,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Collier Financial bought a new position in shares of PepsiCo in the fourth quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the 3rd quarter valued at about $31,000. Creative Capital Management Investments LLC acquired a new stake in PepsiCo during the fourth quarter worth approximately $30,000. Bay Harbor Wealth Management LLC bought a new stake in shares of PepsiCo during the fourth quarter worth approximately $34,000. Finally, Human Investing LLC bought a new position in shares of PepsiCo during the fourth quarter worth approximately $39,000. Institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BNP Paribas reduced their price target on PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. TD Cowen decreased their price target on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada assumed coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price objective for the company. HSBC decreased their target price on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $184.00 to $178.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $169.88.

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PepsiCo Price Performance

Shares of PepsiCo stock traded down $0.40 during midday trading on Friday, hitting $149.27. 8,549,260 shares of the company traded hands, compared to its average volume of 5,875,691. The firm's fifty day moving average price is $149.25 and its 200-day moving average price is $158.17. The stock has a market cap of $204.72 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

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

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo's dividend payout ratio (DPR) is currently 77.99%.

PepsiCo Company Profile

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.