Martingale Asset Management L P Sells 7,478 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Martingale Asset Management L P lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,199 shares of the company’s stock after selling 7,478 shares during the period. Martingale Asset Management L P’s holdings in PepsiCo were worth $27,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. WealthTrak Capital Management LLC purchased a new stake in shares of PepsiCo during the fourth quarter worth about $28,000. Collier Financial bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $30,000. Prudent Man Investment Management Inc. bought a new stake in PepsiCo in the fourth quarter valued at $30,000. Finally, Summit Securities Group LLC bought a new position in PepsiCo in the 4th quarter worth $33,000. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup decreased their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company lowered their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $169.88.

PepsiCo Stock Down 2.0 %

PEP stock opened at $140.30 on Wednesday. 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 company has a market cap of $192.40 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 3.09 and a beta of 0.49. The business’s 50-day moving average is $148.70 and its two-hundred day moving average is $156.39. PepsiCo, Inc. has a fifty-two week low of $139.15 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. As a group, analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

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.