Geode Capital Management LLC Acquires 582,254 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Geode Capital Management LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,079,522 shares of the company's stock after buying an additional 582,254 shares during the quarter. Geode Capital Management LLC owned approximately 2.27% of PepsiCo worth $4,717,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PEP. National Wealth Management Group LLC bought a new position in PepsiCo in the fourth quarter valued at approximately $232,000. StoneX Group Inc. raised its stake in PepsiCo by 45.6% during the 4th quarter. StoneX Group Inc. now owns 37,906 shares of the company's stock worth $5,804,000 after buying an additional 11,877 shares during the period. National Bank of Canada FI grew its stake in PepsiCo by 6.9% in the fourth quarter. National Bank of Canada FI now owns 1,762,555 shares of the company's stock valued at $268,018,000 after acquiring an additional 113,184 shares during the period. Franklin Resources Inc. lifted its stake in PepsiCo by 5.6% in the fourth quarter. Franklin Resources Inc. now owns 13,748,403 shares of the company's stock valued at $2,090,582,000 after buying an additional 727,087 shares in the last quarter. Finally, Family Legacy Inc. increased its holdings in PepsiCo by 1.2% during the 4th quarter. Family Legacy Inc. now owns 15,526 shares of the company's stock worth $2,275,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore ISI dropped their price target on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. UBS Group cut their target price on shares of PepsiCo from $193.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Citigroup dropped their target price on PepsiCo from $195.00 to $170.00 and set a "buy" rating for the company in a report on Wednesday, February 5th. 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. Finally, HSBC decreased their price objective on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $169.88.

PepsiCo Trading Down 0.2 %

Shares of PepsiCo stock traded down $0.27 on Tuesday, reaching $149.67. 6,071,734 shares of the company's stock were exchanged, compared to its average volume of 5,897,074. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week 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. The company has a market capitalization of $205.27 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The firm's 50-day moving average is $149.30 and its two-hundred day moving average is $157.52.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results 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. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The company's quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Friday, March 7th. PepsiCo's dividend payout ratio is currently 77.99%.

PepsiCo 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.