Sumitomo Mitsui Financial Group Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,081 shares of the company's stock after selling 2,432 shares during the quarter. Sumitomo Mitsui Financial Group Inc.'s holdings in PepsiCo were worth $3,662,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PEP. Vanguard Group Inc. lifted its position in 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 purchasing an additional 1,376,133 shares during the period. Geode Capital Management LLC boosted its position in shares of PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock valued at $4,717,069,000 after acquiring an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares during the period. Norges Bank acquired a new position in PepsiCo in the fourth quarter worth about $2,729,565,000. Finally, Bank of New York Mellon Corp boosted its holdings in PepsiCo by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company's stock valued at $2,130,841,000 after purchasing an additional 689,383 shares in the last quarter. Institutional investors own 73.07% of the company's stock.
PepsiCo Stock Performance
Shares of PEP stock traded down $0.32 during trading on Thursday, reaching $145.27. 4,442,825 shares of the company's stock were exchanged, compared to its average volume of 6,037,586. The firm's fifty day moving average price is $148.47 and its 200-day moving average price is $156.13. PepsiCo, Inc. has a twelve month low of $138.33 and a twelve month high of $183.41. The stock has a market capitalization of $199.22 billion, a PE ratio of 20.83, a PEG ratio of 3.09 and a beta of 0.49. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.
PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to analysts' expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.
PepsiCo Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.73%. PepsiCo's payout ratio is currently 77.99%.
Wall Street Analysts Forecast Growth
PEP has been the subject of a number of recent research reports. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $183.00 to $165.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th. UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company lowered their target price on PepsiCo from $155.00 to $150.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Finally, Morgan Stanley reduced their price objective on shares of PepsiCo from $185.00 to $168.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $169.88.
Get Our Latest Stock Report on PEP
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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