Mattern Capital Management LLC Purchases 3,315 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mattern Capital Management LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,256 shares of the company’s stock after purchasing an additional 3,315 shares during the period. Mattern Capital Management LLC’s holdings in PepsiCo were worth $8,098,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the last quarter. State Street Corp grew its holdings in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of PepsiCo by 21.1% during the third 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 last quarter. Swedbank AB grew its holdings in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of PepsiCo by 360.0% during the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock worth $258,158,000 after purchasing an additional 1,328,672 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PEP. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. HSBC decreased their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Evercore ISI cut their price target on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Trading Up 2.3 %

Shares of PEP stock opened at $149.10 on Friday. The firm has a market capitalization of $204.49 billion, a P/E ratio of 21.45, a P/E/G ratio of 3.02 and a beta of 0.54. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock’s fifty day simple moving average is $148.94 and its 200 day simple moving average is $162.49.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The business’s revenue was down .2% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.31 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is 77.99%.

About PepsiCo

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.