Thoroughbred Financial Services LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,198 shares of the company's stock after selling 1,905 shares during the period. Thoroughbred Financial Services LLC's holdings in PepsiCo were worth $3,375,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new stake in PepsiCo during the 4th quarter worth approximately $2,729,565,000. Raymond James Financial Inc. bought a new position in shares of PepsiCo during the 4th quarter worth approximately $589,307,000. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. State Street Corp increased its position in 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 buying an additional 2,775,679 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Jefferies Financial Group cut PepsiCo from a "buy" rating to a "hold" rating and dropped their price objective for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. Evercore ISI dropped their price objective on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. CICC Research reiterated a "market perform" rating on shares of PepsiCo in a research report on Friday, February 7th. Barclays lowered PepsiCo from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $168.00 to $156.00 in a report on Tuesday, March 18th. Finally, Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price objective for the company. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $169.88.
View Our Latest Research Report on PepsiCo
PepsiCo Stock Performance
PEP traded down $4.76 during midday trading on Friday, hitting $146.61. 12,910,000 shares of the company were exchanged, compared to its average volume of 5,939,246. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a market capitalization of $201.05 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. The company's 50 day simple moving average is $149.33 and its 200 day simple moving average is $157.21. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.
PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS 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 firm had revenue of $27.78 billion during the quarter, compared to analysts' expectations of $27.89 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The firm's revenue for the quarter was down .2% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Dividend Announcement
The company also recently announced 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. This represents a $5.42 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo's dividend payout ratio (DPR) is 77.99%.
PepsiCo Company Profile
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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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