Global Retirement Partners LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,752 shares of the company's stock after selling 2,432 shares during the quarter. Global Retirement Partners LLC's holdings in PepsiCo were worth $3,460,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company's stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Geode Capital Management LLC lifted its stake in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company's stock worth $5,170,529,000 after acquiring an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company's stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Franklin Resources Inc. lifted its stake in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the period. Finally, Wellington Management Group LLP lifted its stake in PepsiCo by 2.7% in the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company's stock worth $2,057,359,000 after acquiring an additional 313,468 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.
PepsiCo Stock Performance
NASDAQ:PEP traded up $4.42 during midday trading on Friday, hitting $153.52. The company's stock had a trading volume of 5,641,114 shares, compared to its average volume of 6,840,789. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The firm's 50 day moving average is $148.75 and its 200-day moving average is $162.39. 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 firm has a market cap of $210.55 billion, a P/E ratio of 22.07, a P/E/G ratio of 3.02 and a beta of 0.54.
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 net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the company earned $1.78 EPS. PepsiCo's quarterly revenue was down .2% on a year-over-year basis. Equities analysts anticipate that PepsiCo, Inc. will post 8.31 earnings per share for the current fiscal year.
PepsiCo Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.53%. PepsiCo's dividend payout ratio is presently 77.99%.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Royal Bank of Canada assumed coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 price target for the company. Wells Fargo & Company decreased their price target on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Morgan Stanley decreased their price target on shares of PepsiCo from $185.00 to $168.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. StockNews.com lowered shares of PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price target for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo has a consensus rating of "Hold" and an average target price of $171.47.
Check Out Our Latest Research Report on PepsiCo
About PepsiCo
(
Free Report)
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.
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