PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Connable Office Inc.

Connable Office Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,631 shares of the company’s stock after selling 230 shares during the quarter. Connable Office Inc.’s holdings in PepsiCo were worth $2,377,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PEP. State Street Corp grew its position 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 buying an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. grew its position 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 buying an additional 2,264,445 shares in the last quarter. Swedbank AB grew its position 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 buying an additional 1,592,343 shares in the last quarter. Van ECK Associates Corp grew its position 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 buying an additional 1,328,672 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of PepsiCo by 62.4% during the fourth quarter. Vontobel Holding Ltd. now owns 3,014,101 shares of the company’s stock worth $458,324,000 after buying an additional 1,157,835 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PEP shares. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Citigroup lowered their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. TD Cowen lowered their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Morgan Stanley lowered their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, UBS Group lowered their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $153.47 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The stock has a 50 day moving average of $148.59 and a two-hundred day moving average of $161.60. The stock has a market cap of $210.48 billion, a P/E ratio of 22.08, a P/E/G ratio of 3.09 and a beta of 0.54.

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

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s 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.