Somerville Kurt F Sells 2,813 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Somerville Kurt F lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,581 shares of the company's stock after selling 2,813 shares during the period. Somerville Kurt F's holdings in PepsiCo were worth $2,369,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after buying an additional 1,376,133 shares in the last quarter. State Street Corp raised 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 purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 purchased a new stake in PepsiCo during the 4th quarter valued at $2,729,565,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Remove Ads

PepsiCo Trading Down 3.1 %

PEP traded down $4.76 on Friday, reaching $146.61. 12,910,000 shares of the company's stock were exchanged, compared to its average volume of 5,945,353. The company's 50 day moving average is $149.33 and its 200-day moving average is $157.07. 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, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a market cap of $201.05 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analysts' expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 earnings per share. Equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current 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 3.70%. The ex-dividend date was Friday, March 7th. PepsiCo's dividend payout ratio (DPR) is presently 77.99%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEP. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price target on the stock. TD Cowen decreased their price target on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. BNP Paribas cut their price objective on PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Evercore ISI decreased their price target on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price 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.