Westpac Banking Corp lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 60.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,978 shares of the company's stock after selling 24,794 shares during the quarter. Westpac Banking Corp's holdings in PepsiCo were worth $2,430,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Tcfg Wealth Management LLC raised its stake in PepsiCo by 3.5% during the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock worth $295,000 after purchasing an additional 66 shares during the period. Lincoln Capital LLC increased its stake in PepsiCo by 0.4% during the fourth quarter. Lincoln Capital LLC now owns 16,808 shares of the company's stock worth $2,556,000 after acquiring an additional 70 shares during the last quarter. Marshall Financial Group LLC raised its holdings in shares of PepsiCo by 2.3% in the 4th quarter. Marshall Financial Group LLC now owns 3,128 shares of the company's stock worth $476,000 after purchasing an additional 70 shares during the period. Osprey Private Wealth LLC grew its holdings in shares of PepsiCo by 0.5% during the 4th quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company's stock worth $2,290,000 after purchasing an additional 70 shares during the period. Finally, TAGStone Capital Inc. increased its position in PepsiCo by 2.8% during the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.
PepsiCo Stock Down 3.1 %
Shares of PEP stock traded down $4.76 during trading hours on Friday, hitting $146.61. 12,910,000 shares of the company were exchanged, compared to its average volume of 5,939,246. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a market capitalization of $201.05 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The business's 50-day simple moving average is $149.33 and its two-hundred day simple moving average is $157.21.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.
PepsiCo Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a $1.355 dividend. The ex-dividend date was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. PepsiCo's payout ratio is currently 77.99%.
Analyst Ratings Changes
Several equities research analysts have issued reports on PEP shares. Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price objective for the company. Royal Bank of Canada began coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price target for the company. Wells Fargo & Company reduced their price objective on PepsiCo from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Evercore ISI lowered their target price on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $169.88.
Check Out Our Latest Analysis on PEP
PepsiCo Profile
(
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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