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

Truepoint Inc. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 34.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,357 shares of the company’s stock after selling 724 shares during the quarter. Truepoint Inc.’s holdings in PepsiCo were worth $206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. raised its position in PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after purchasing an additional 870,451 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after buying an additional 4,712 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after buying an additional 34,633 shares during the period. IHT Wealth Management LLC lifted its position in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares in the last quarter. Finally, Guinness Asset Management LTD boosted its holdings in PepsiCo by 5.2% in the 4th quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company’s stock worth $188,031,000 after acquiring an additional 61,541 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Barclays cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $168.00 to $156.00 in a research report on Tuesday. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. HSBC lowered their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $169.88.

PepsiCo Price Performance

PEP opened at $147.15 on Friday. 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 company’s 50-day moving average price is $148.98 and its 200 day moving average price is $159.41. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The firm has a market cap of $201.82 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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. 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 analyst estimates of $27.89 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 annualized dividend and a yield of 3.68%. PepsiCo’s dividend payout ratio is presently 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.