PepsiCo, Inc. $PEP Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,839 shares of the company’s stock after selling 16,146 shares during the quarter. Flputnam Investment Management Co.’s holdings in PepsiCo were worth $12,757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PEP. Nova Wealth Management Inc. acquired a new stake in PepsiCo in the first quarter valued at $25,000. Evolution Wealth Management Inc. acquired a new position in PepsiCo during the 2nd quarter worth $27,000. Legend Financial Advisors Inc. bought a new stake in shares of PepsiCo in the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after purchasing an additional 121 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its position in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays boosted their price objective on PepsiCo from $142.00 to $144.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Bank of America lifted their target price on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Royal Bank Of Canada dropped their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Monday, September 15th. Piper Sandler raised their price objective on PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Finally, Citigroup lifted their price objective on shares of PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $158.75.

PepsiCo Stock Down 0.8%

Shares of PepsiCo stock opened at $148.16 on Friday. The stock has a market capitalization of $202.59 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 5.11 and a beta of 0.42. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The business’s 50 day simple moving average is $148.00 and its 200-day simple moving average is $142.94.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same period in the prior year, the business earned $2.31 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.