Kathmere Capital Management LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Kathmere Capital Management LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 24.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,534 shares of the company’s stock after selling 3,061 shares during the quarter. Kathmere Capital Management LLC’s holdings in PepsiCo were worth $1,450,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp lifted its holdings in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC lifted its stake in PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the period. Finally, Franklin Resources Inc. lifted its stake in PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PEP shares. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada cut their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Finally, Barclays cut their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $180.64.

PepsiCo Price Performance

Shares of PEP opened at $144.95 on Wednesday. The firm has a market capitalization of $198.87 billion, a PE ratio of 21.38, a P/E/G ratio of 2.94 and a beta of 0.54. The stock’s 50 day moving average is $156.46 and its two-hundred day moving average is $166.20. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.74%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

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.