Main Street Research LLC Increases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Main Street Research LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,712 shares of the company’s stock after acquiring an additional 221 shares during the quarter. Main Street Research LLC’s holdings in PepsiCo were worth $417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its holdings in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Geode Capital Management LLC increased its stake in shares of PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in PepsiCo by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after acquiring an additional 689,383 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup dropped their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. BNP Paribas cut their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler assumed coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. UBS Group dropped their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $172.35.

PepsiCo Stock Down 0.1 %

PepsiCo stock opened at $154.44 on Monday. The firm has a market cap of $211.81 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 3.09 and a beta of 0.52. 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 12 month low of $141.51 and a 12 month high of $183.41. The stock has a fifty day simple moving average of $148.80 and a two-hundred day simple moving average of $160.76.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The business 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 quarter in the previous year, the firm earned $1.78 EPS. Equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 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.