Callahan Advisors LLC Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Callahan Advisors LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,880 shares of the company’s stock after purchasing an additional 16,548 shares during the quarter. PepsiCo comprises approximately 1.5% of Callahan Advisors LLC’s portfolio, making the stock its 19th biggest position. Callahan Advisors LLC’s holdings in PepsiCo were worth $16,100,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State Street Corp grew its holdings in PepsiCo by 5.1% during the third 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 period. Geode Capital Management LLC grew its holdings 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 acquiring an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Franklin Resources Inc. grew its holdings in PepsiCo by 21.1% during the third 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 during the period. Finally, Wellington Management Group LLP grew its holdings in PepsiCo by 2.7% in the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after purchasing an additional 313,468 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PEP shares. Barclays lowered their target price on PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. BNP Paribas lowered their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. TD Cowen lowered their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Evercore ISI lowered their target price on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Finally, Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Performance

NASDAQ PEP opened at $143.39 on Tuesday. The business’s 50-day moving average price is $149.80 and its 200 day moving average price is $163.06. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a market capitalization of $196.66 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, research analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.78%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

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.