PepsiCo, Inc. $PEP Shares Sold by Invesco Ltd.

Invesco Ltd. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,175,559 shares of the company’s stock after selling 1,442,188 shares during the quarter. Invesco Ltd.’s holdings in PepsiCo were worth $1,747,436,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of PepsiCo during the 4th quarter worth $3,018,813,000. AQR Capital Management LLC increased its holdings in PepsiCo by 120.7% during the 3rd quarter. AQR Capital Management LLC now owns 5,916,417 shares of the company’s stock valued at $830,902,000 after acquiring an additional 3,235,726 shares in the last quarter. Amundi increased its holdings in PepsiCo by 30.0% during the 3rd quarter. Amundi now owns 8,641,588 shares of the company’s stock valued at $1,207,230,000 after acquiring an additional 1,995,362 shares in the last quarter. Vanguard Group Inc. raised its position in PepsiCo by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company’s stock worth $19,875,205,000 after acquiring an additional 1,612,652 shares during the last quarter. Finally, Caisse de depot et placement du Quebec lifted its holdings in shares of PepsiCo by 151.7% in the third quarter. Caisse de depot et placement du Quebec now owns 2,597,986 shares of the company’s stock valued at $364,861,000 after purchasing an additional 1,565,883 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.3%

Shares of PepsiCo stock opened at $142.02 on Friday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The business’s fifty day moving average is $150.15 and its two-hundred day moving average is $152.31. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. The firm has a market cap of $194.11 billion, a PE ratio of 22.30, a P/E/G ratio of 2.57 and a beta of 0.35.

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

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $1.48 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. This represents a $5.92 annualized dividend and a yield of 4.2%. PepsiCo’s dividend payout ratio (DPR) is presently 92.94%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Rothschild & Co Redburn lifted their price objective on PepsiCo from $130.00 to $132.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their price target on PepsiCo from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research report on Wednesday, April 8th. BNP Paribas Exane increased their price objective on PepsiCo from $191.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Piper Sandler cut their target price on shares of PepsiCo from $181.00 to $178.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Eight investment 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, PepsiCo has a consensus rating of “Hold” and a consensus price target of $167.10.

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.