Franklin Resources Inc. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,129,784 shares of the company’s stock after selling 930,873 shares during the period. Franklin Resources Inc. owned 1.03% of PepsiCo worth $2,027,906,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY raised its holdings in shares of PepsiCo by 8.3% during the 4th quarter. Cypress Capital Management LLC WY now owns 838 shares of the company’s stock worth $121,000 after acquiring an additional 64 shares in the last quarter. United Bank raised its holdings in shares of PepsiCo by 3.9% during the 4th quarter. United Bank now owns 1,717 shares of the company’s stock worth $246,000 after acquiring an additional 65 shares in the last quarter. Koa Wealth Management LLC raised its holdings in shares of PepsiCo by 0.9% during the 4th quarter. Koa Wealth Management LLC now owns 8,007 shares of the company’s stock worth $1,149,000 after acquiring an additional 68 shares in the last quarter. Tiemann Investment Advisors LLC raised its holdings in shares of PepsiCo by 4.0% during the 3rd quarter. Tiemann Investment Advisors LLC now owns 1,807 shares of the company’s stock worth $254,000 after acquiring an additional 70 shares in the last quarter. Finally, Leisure Capital Management raised its holdings in shares of PepsiCo by 0.6% during the 3rd quarter. Leisure Capital Management now owns 11,578 shares of the company’s stock worth $1,626,000 after acquiring an additional 71 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.
PepsiCo Stock Performance
NASDAQ:PEP opened at $141.92 on Monday. The stock’s fifty day moving average is $152.21 and its 200 day moving average is $152.54. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The firm has a market capitalization of $193.97 billion, a PE ratio of 22.28, a PEG ratio of 2.57 and a beta of 0.35. 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 Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a $1.48 dividend. The ex-dividend date is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a yield of 4.2%. PepsiCo’s payout ratio is 92.94%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the company. UBS Group decreased their price objective on PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Wall Street Zen cut PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. BNP Paribas Exane upped their price objective on PepsiCo from $191.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Piper Sandler increased their price target on PepsiCo from $172.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on PepsiCo from $169.00 to $173.00 and gave the company a “buy” rating in a report on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $169.58.
Read Our Latest Research Report on PepsiCo
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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