PepsiCo, Inc. (NASDAQ:PEP) Holdings Reduced by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,541 shares of the company’s stock after selling 2,769 shares during the period. Pekin Hardy Strauss Inc.’s holdings in PepsiCo were worth $4,340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PEP. State Street Corp boosted its holdings in shares of PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Swedbank AB lifted its stake in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. Van ECK Associates Corp lifted its stake in PepsiCo by 360.0% during the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock valued at $258,158,000 after purchasing an additional 1,328,672 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in PepsiCo by 62.4% during the fourth quarter. Vontobel Holding Ltd. now owns 3,014,101 shares of the company’s stock valued at $458,324,000 after purchasing an additional 1,157,835 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada initiated coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They issued a $172.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Up 3.0 %

PepsiCo stock opened at $153.50 on Friday. The firm has a market cap of $210.53 billion, a PE ratio of 22.09, a P/E/G ratio of 3.09 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm’s 50 day moving average price is $148.66 and its two-hundred day moving average price is $162.18. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 EPS. On average, research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.53%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

PepsiCo Company 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.