Magellan Asset Management Ltd Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Magellan Asset Management Ltd decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 83.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 639 shares of the company's stock after selling 3,242 shares during the period. Magellan Asset Management Ltd's holdings in PepsiCo were worth $97,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PEP. Vanguard Group Inc. raised its position in shares of PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after buying an additional 1,376,133 shares in the last quarter. State Street Corp lifted its stake in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company's stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC boosted 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 during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 during the last quarter. Finally, Norges Bank bought a new stake in PepsiCo in the fourth quarter worth $2,729,565,000. 73.07% of the stock is owned by institutional investors.

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PepsiCo Stock Up 1.5 %

PepsiCo stock traded up $2.25 during trading hours on Thursday, reaching $151.37. The stock had a trading volume of 8,211,736 shares, compared to its average volume of 5,909,408. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The business's 50 day moving average price is $149.38 and its 200-day moving average price is $157.42. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company has a market cap of $207.58 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate 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 last year, the company earned $1.78 earnings per share. The company's quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.58%. PepsiCo's payout ratio is currently 77.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Evercore ISI reduced their target price on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Barclays downgraded shares of PepsiCo from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $168.00 to $156.00 in a research note on Tuesday, March 18th. StockNews.com cut PepsiCo from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. decreased their price target on PepsiCo from $183.00 to $165.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Finally, Piper Sandler began coverage on PepsiCo in a research report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of "Hold" and a consensus price target of $169.88.

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.