Latitude Advisors LLC Sells 247 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Latitude Advisors LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,313 shares of the company’s stock after selling 247 shares during the period. Latitude Advisors LLC’s holdings in PepsiCo were worth $352,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its stake 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 period. Geode Capital Management LLC increased its position in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after buying an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Franklin Resources Inc. grew its stake in shares of 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. Finally, Wellington Management Group LLP raised its stake in PepsiCo by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after purchasing an additional 313,468 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PEP shares. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Citigroup dropped their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company dropped their target price 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. One 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $171.47.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $144.35 on Tuesday. The firm has a market cap of $197.98 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm’s fifty day moving average is $151.42 and its 200-day moving average is $164.06. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82.

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. Sell-side analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Dividend Announcement

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 given a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. PepsiCo’s dividend payout ratio (DPR) is currently 77.99%.

PepsiCo Company 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.