Arrowstreet Capital Limited Partnership Boosts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Arrowstreet Capital Limited Partnership lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,516,146 shares of the company’s stock after buying an additional 595,257 shares during the quarter. PepsiCo comprises 0.5% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 29th largest position. Arrowstreet Capital Limited Partnership owned approximately 0.33% of PepsiCo worth $686,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Collier Financial purchased a new stake in shares of PepsiCo in the 4th quarter worth about $28,000. WealthTrak Capital Management LLC bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $28,000. Creative Capital Management Investments LLC purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth approximately $31,000. Finally, Bay Harbor Wealth Management LLC bought a new position in PepsiCo during the 4th quarter valued at approximately $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

NASDAQ PEP opened at $149.27 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $204.72 billion, a P/E ratio of 21.48, a PEG ratio of 3.09 and a beta of 0.52. The company has a 50-day moving average price of $149.25 and a 200-day moving average price of $158.03. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly 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 net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter last year, the company posted $1.78 EPS. The company’s revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.63%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is currently 77.99%.

Analyst Ratings Changes

A number of research firms have recently commented on PEP. Citigroup cut their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Wells Fargo & Company reduced their price objective 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. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. UBS Group lowered their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $169.88.

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.