PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 8.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 65,415 shares of the company’s stock after selling 6,297 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in PepsiCo were worth $10,042,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Swedbank AB raised its position in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares during the period. Howard Capital Management Group LLC raised its holdings in shares of PepsiCo by 2.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after purchasing an additional 90 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of PepsiCo by 7.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 230,480 shares of the company’s stock valued at $39,193,000 after purchasing an additional 16,284 shares in the last quarter. Cornerstone Advisors LLC grew its holdings in shares of PepsiCo by 4.5% during the 3rd quarter. Cornerstone Advisors LLC now owns 76,200 shares of the company’s stock worth $12,958,000 after purchasing an additional 3,300 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in PepsiCo by 12.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,141,904 shares of the company’s stock worth $194,180,000 after purchasing an additional 129,358 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada initiated coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price objective for the company. Evercore ISI lowered their price target on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Finally, Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $169.88.

PepsiCo Trading Down 0.6 %

PEP opened at $147.15 on Friday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market capitalization of $201.82 billion, a PE ratio of 21.17, a P/E/G ratio of 3.09 and a beta of 0.52. The firm’s fifty day moving average price is $148.98 and its 200 day moving average price is $159.41.

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

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.68%. 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.