Cibc World Market Inc. Sells 12,430 Shares of PepsiCo, Inc. $PEP

Cibc World Market Inc. decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 747,160 shares of the company’s stock after selling 12,430 shares during the period. Cibc World Market Inc.’s holdings in PepsiCo were worth $107,232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PEP. Brighton Jones LLC increased its holdings in shares of PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of PepsiCo in the 1st quarter worth $251,000. Sivia Capital Partners LLC boosted its stake in shares of PepsiCo by 138.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock worth $862,000 after buying an additional 3,790 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of PepsiCo by 10.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 38,164 shares of the company’s stock worth $5,039,000 after buying an additional 3,502 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of PepsiCo by 45.5% in the 2nd quarter. Sei Investments Co. now owns 536,133 shares of the company’s stock worth $70,789,000 after buying an additional 167,707 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Key Headlines Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo launched new products aimed at premium and growth categories, including the Adrenaline Rush energy drink and PopCorners Protein, which could help support volume and mix improvement. PepsiCo launches energy drink Adrenaline Rush, eyes mass-premium segment
• Positive Sentiment: The company’s affordability and modernization messaging suggests it is adapting to weaker consumer spending by offering more value-oriented products and packaging, which may help protect market share. How PepsiCo Is Achieving Affordability
• Positive Sentiment: Recent commentary highlighted PepsiCo’s dividend appeal and ongoing health-focused product push, which supports the stock’s defensive-income profile for investors. PepsiCo (PEP) Valuation Check After Earnings Beat Dividend Hike And Health Focused Product Push

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of research reports. Piper Sandler raised their price target on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. The Goldman Sachs Group raised their price target on PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research note on Wednesday, April 8th. Finally, Barclays raised their price target on PepsiCo from $154.00 to $158.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $170.11.

PepsiCo Price Performance

NASDAQ PEP opened at $142.54 on Thursday. The company has a market capitalization of $194.82 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 2.57 and a beta of 0.35. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. The business’s fifty day moving average is $152.57 and its 200 day moving average is $152.61. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.06. The company had revenue of $19.44 billion for 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%.PepsiCo’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 earnings per share. Sell-side analysts predict that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a $1.48 dividend. The ex-dividend date is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. PepsiCo’s dividend payout ratio (DPR) is presently 89.32%.

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.