RBF Capital LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 24.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,400 shares of the company’s stock after selling 35,000 shares during the quarter. RBF Capital LLC’s holdings in PepsiCo were worth $15,558,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swiss RE Ltd. purchased a new position in PepsiCo in the 4th quarter valued at about $28,000. MH & Associates Securities Management Corp ADV purchased a new position in PepsiCo in the 4th quarter valued at about $29,000. Imprint Wealth LLC purchased a new position in PepsiCo in the 3rd quarter valued at about $31,000. Strategic Advocates LLC purchased a new position in PepsiCo in the 3rd quarter valued at about $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in PepsiCo in the 4th quarter valued at about $33,000. 73.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on PEP shares. Rothschild & Co Redburn raised their price target on shares of PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. Sanford C. Bernstein initiated coverage on shares of PepsiCo in a research note on Thursday, June 11th. They issued a “market perform” rating and a $143.00 target price on the stock. Wall Street Zen lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Wells Fargo & Company decreased their target price on shares of PepsiCo from $160.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Finally, TD Cowen decreased their target price on shares of PepsiCo from $165.00 to $150.00 and set a “hold” rating on the stock in a research note on Friday, June 12th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus price target of $167.35.
PepsiCo Trading Down 0.1%
PEP opened at $146.12 on Wednesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The company’s 50 day simple moving average is $150.68 and its two-hundred day simple moving average is $152.40. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48. The firm has a market capitalization of $199.71 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 2.65 and a beta of 0.35.
PepsiCo (NASDAQ:PEP – Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.55 by $0.06. The firm had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 EPS. Analysts expect that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.
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 represents a $5.92 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, June 5th. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio is presently 92.94%.
More PepsiCo News
Here are the key news stories impacting PepsiCo this week:
- Positive Sentiment: PepsiCo announced its 54th consecutive annual dividend increase, reinforcing its appeal as a defensive, income-generating stock at a time when Treasury yields are elevated. PepsiCo’s 3.9% Yield Is a Safe-Haven Masterclass
- Positive Sentiment: PepsiCo debuted a new limited-edition soda, which could help drive short-term consumer interest and support beverage sales. PepsiCo just debuted a new limited-edition soda that’s guaranteed to sell out
- Positive Sentiment: PepsiCo continues to highlight future growth initiatives, including experiential drinks and regenerative farming partnerships, which suggest management is still investing in new revenue streams. PepsiCo Targets Experiential Drinks And Regenerative Farming For Future Growth
- Neutral Sentiment: PepsiCo senior director Maneesha Khanna stepped down after 13 years; this looks like a personnel change rather than a material business event. PepsiCo Senior Director Maneesha Khanna steps down after 13 years
- Neutral Sentiment: PepsiCo was mentioned in articles about broader S&P 500 ideas and sustainability events, but those items do not appear to change the company’s near-term fundamentals. Sustainability LIVE Announces Final Week to Register for The Leadership Summit
- Negative Sentiment: Piper Sandler lowered its price target on PepsiCo, which can weigh on sentiment by signaling a more cautious outlook for the stock’s upside. PepsiCo (PEP) Price Target Lowered at Piper Sandler. Here is Why
PepsiCo Company 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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