Conning Inc. Has $34.30 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Conning Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 202,339 shares of the company’s stock after selling 4,926 shares during the quarter. Conning Inc.’s holdings in PepsiCo were worth $34,298,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PEP. Proquility Private Wealth Partners LLC grew its position in shares of PepsiCo by 1.1% in the 4th quarter. Proquility Private Wealth Partners LLC now owns 5,260 shares of the company’s stock worth $950,000 after buying an additional 57 shares during the last quarter. Amplius Wealth Advisors LLC boosted its position in shares of PepsiCo by 2.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after purchasing an additional 60 shares in the last quarter. Darwin Wealth Management LLC grew its stake in PepsiCo by 2.7% during the 3rd quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock worth $397,000 after buying an additional 61 shares during the last quarter. Sugarloaf Wealth Management LLC increased its position in PepsiCo by 2.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after buying an additional 61 shares in the last quarter. Finally, Cassia Capital Partners LLC raised its stake in PepsiCo by 1.5% in the third quarter. Cassia Capital Partners LLC now owns 4,143 shares of the company’s stock valued at $702,000 after buying an additional 63 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PepsiCo stock traded down $0.26 on Friday, reaching $168.10. The company’s stock had a trading volume of 5,453,736 shares, compared to its average volume of 5,733,164. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $196.88. The company has a market capitalization of $231.06 billion, a P/E ratio of 25.59, a PEG ratio of 2.64 and a beta of 0.53. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 2.02. The stock has a 50-day moving average price of $168.78 and a 200-day moving average price of $167.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $27.84 billion during the quarter, compared to analysts’ expectations of $28.40 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 earnings per share. Analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is 77.02%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEP shares. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $180.00 price objective on shares of PepsiCo in a research note on Monday, February 12th. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and upped their target price for the company from $180.00 to $195.00 in a research report on Monday, February 12th. Deutsche Bank Aktiengesellschaft lifted their price target on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Barclays raised their price objective on PepsiCo from $183.00 to $184.00 and gave the stock an “overweight” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.92.

PepsiCo Profile

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.