ExodusPoint Capital Management LP Decreases Stock Holdings in PepsiCo, Inc. $PEP

ExodusPoint Capital Management LP trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,208 shares of the company’s stock after selling 4,988 shares during the quarter. ExodusPoint Capital Management LP’s holdings in PepsiCo were worth $22,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Blair William & Co. IL increased its stake in shares of PepsiCo by 6.4% in the fourth quarter. Blair William & Co. IL now owns 536,086 shares of the company’s stock worth $76,939,000 after buying an additional 32,447 shares during the period. Silver Grove Financial Group Inc. boosted its holdings in PepsiCo by 6.2% in the fourth quarter. Silver Grove Financial Group Inc. now owns 1,568 shares of the company’s stock valued at $225,000 after acquiring an additional 91 shares in the last quarter. Dempze Nancy E bought a new stake in PepsiCo in the fourth quarter valued at $298,000. Opal Capital LLC bought a new stake in PepsiCo in the fourth quarter valued at $6,351,000. Finally, Rothschild Wealth LLC boosted its holdings in PepsiCo by 148.8% in the fourth quarter. Rothschild Wealth LLC now owns 9,023 shares of the company’s stock valued at $1,295,000 after acquiring an additional 5,396 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PEP. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a report on Wednesday, April 8th. BNP Paribas Exane lifted their price target on shares of PepsiCo from $191.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PepsiCo from $169.00 to $173.00 and gave the company a “buy” rating in a report on Friday, April 17th. The Goldman Sachs Group lifted their price target on shares of PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 17th. Finally, Sanford C. Bernstein began coverage on shares of PepsiCo in a report on Thursday, June 11th. They issued a “market perform” rating and a $143.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $167.35.

PepsiCo Stock Performance

Shares of PEP stock opened at $146.12 on Wednesday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $171.48. The stock has a market cap of $199.71 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.65 and a beta of 0.35. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. The company’s fifty day moving average price is $150.68 and its 200-day moving average price is $152.40.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The firm had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. During the same quarter in the previous year, the business posted $1.48 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts expect that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.48 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.1%. PepsiCo’s dividend payout ratio (DPR) is presently 92.94%.

PepsiCo News Summary

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced its 54th consecutive annual dividend increase, reinforcing its appeal as a defensive, income-generating stock at a time when Treasury yields are elevated. PepsiCo’s 3.9% Yield Is a Safe-Haven Masterclass
• Positive Sentiment: PepsiCo debuted a new limited-edition soda, which could help drive short-term consumer interest and support beverage sales. PepsiCo just debuted a new limited-edition soda that’s guaranteed to sell out
• Positive Sentiment: PepsiCo continues to highlight future growth initiatives, including experiential drinks and regenerative farming partnerships, which suggest management is still investing in new revenue streams. PepsiCo Targets Experiential Drinks And Regenerative Farming For Future Growth
• Neutral Sentiment: PepsiCo senior director Maneesha Khanna stepped down after 13 years; this looks like a personnel change rather than a material business event. PepsiCo Senior Director Maneesha Khanna steps down after 13 years
• Neutral Sentiment: PepsiCo was mentioned in articles about broader S&P 500 ideas and sustainability events, but those items do not appear to change the company’s near-term fundamentals. Sustainability LIVE Announces Final Week to Register for The Leadership Summit
• Negative Sentiment: Piper Sandler lowered its price target on PepsiCo, which can weigh on sentiment by signaling a more cautious outlook for the stock’s upside. PepsiCo (PEP) Price Target Lowered at Piper Sandler. Here is Why

About PepsiCo

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.