Saratoga Research & Investment Management lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,282 shares of the company’s stock after selling 9,223 shares during the period. PepsiCo comprises 1.3% of Saratoga Research & Investment Management’s portfolio, making the stock its 23rd largest position. Saratoga Research & Investment Management’s holdings in PepsiCo were worth $24,726,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. Captrust Financial Advisors lifted its holdings in shares of PepsiCo by 3.6% in the 3rd quarter. Captrust Financial Advisors now owns 554,798 shares of the company’s stock worth $77,916,000 after purchasing an additional 19,218 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. lifted its holdings in shares of PepsiCo by 622.3% in the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 35,603 shares of the company’s stock worth $5,110,000 after purchasing an additional 30,674 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of PepsiCo by 11.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 415,271 shares of the company’s stock worth $59,600,000 after purchasing an additional 42,335 shares during the last quarter. Mediolanum International Funds Ltd lifted its holdings in shares of PepsiCo by 19.3% in the 3rd quarter. Mediolanum International Funds Ltd now owns 252,916 shares of the company’s stock worth $35,451,000 after purchasing an additional 40,947 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of PepsiCo by 96.5% in the 3rd quarter. Townsquare Capital LLC now owns 40,383 shares of the company’s stock worth $5,671,000 after purchasing an additional 19,829 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently issued reports on PEP. JPMorgan Chase & Co. raised their price target on PepsiCo from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Royal Bank Of Canada cut their price target on PepsiCo from $165.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, April 9th. Evercore raised their price target on PepsiCo from $165.00 to $170.00 in a report on Friday, April 17th. HSBC raised their price target on PepsiCo from $175.00 to $176.00 and gave the stock a “hold” rating in a report on Friday, April 17th. Finally, Piper Sandler raised their price target on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $170.37.
PepsiCo Stock Up 0.3%
Shares of PEP stock opened at $149.12 on Friday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $171.48. The stock has a market cap of $203.81 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 2.73 and a beta of 0.38. The business’s fifty day moving average is $155.25 and its 200-day moving average is $152.42. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. During the same period last year, the firm earned $1.48 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts expect that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.
PepsiCo declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 3rd that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
PepsiCo Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.48 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. This represents a $5.92 annualized dividend and a dividend yield of 4.0%. PepsiCo’s payout ratio is 89.32%.
PepsiCo Profile
PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.
Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.
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