Beck Mack & Oliver LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Beck Mack & Oliver LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,982 shares of the company’s stock after selling 175 shares during the period. Beck Mack & Oliver LLC’s holdings in PepsiCo were worth $3,190,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of PepsiCo in the 4th quarter valued at about $2,729,565,000. Raymond James Financial Inc. purchased a new stake in PepsiCo during the 4th quarter valued at $589,307,000. Charles Schwab Investment Management Inc. increased its position in PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Finally, Vanguard Group Inc. lifted its stake in PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

NASDAQ PEP opened at $142.84 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm has a market capitalization of $195.88 billion, a P/E ratio of 20.55, a PEG ratio of 3.09 and a beta of 0.49. The stock has a 50-day simple moving average of $148.16 and a two-hundred day simple moving average of $154.94. PepsiCo, Inc. has a fifty-two week low of $138.33 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, equities 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 was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.79%. PepsiCo’s dividend payout ratio (DPR) is currently 77.99%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $168.00 to $156.00 in a research note on Tuesday, March 18th. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Morgan Stanley reduced their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. BNP Paribas dropped their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada started coverage on PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus price target of $168.12.

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.