Exchange Capital Management Inc. Has $3.33 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Exchange Capital Management Inc. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,888 shares of the company’s stock after buying an additional 605 shares during the quarter. Exchange Capital Management Inc.’s holdings in PepsiCo were worth $3,328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of PEP. State Street Corp grew its position in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Geode Capital Management LLC grew its position in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after purchasing an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in PepsiCo by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after acquiring an additional 689,383 shares in the last quarter. 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 valued at $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent analyst reports. TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Morgan Stanley reduced their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Barclays reduced their target price on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Performance

Shares of PEP stock opened at $153.85 on Tuesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The stock has a 50 day moving average price of $148.61 and a two-hundred day moving average price of $161.98. The company has a market capitalization of $211.01 billion, a P/E ratio of 22.14, a PEG ratio of 3.09 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. Analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.52%. PepsiCo’s payout ratio 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.