abrdn plc Has $227.04 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

abrdn plc trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,532,274 shares of the company’s stock after selling 95,655 shares during the quarter. abrdn plc owned about 0.11% of PepsiCo worth $227,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PEP. Nordea Investment Management AB lifted its stake in shares of PepsiCo by 162.0% in the 1st quarter. Nordea Investment Management AB now owns 7,259,534 shares of the company’s stock valued at $1,034,266,000 after purchasing an additional 4,488,520 shares during the period. Factorial Partners LLC acquired a new position in shares of PepsiCo in the 1st quarter valued at about $26,500,000. Arrowstreet Capital Limited Partnership raised its stake in PepsiCo by 731.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,618,572 shares of the company’s stock worth $511,847,000 after buying an additional 3,183,227 shares during the period. Magellan Asset Management Ltd boosted its holdings in PepsiCo by 18.8% in the first quarter. Magellan Asset Management Ltd now owns 16,613,014 shares of the company’s stock worth $2,349,911,000 after acquiring an additional 2,629,100 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of PepsiCo by 60.8% during the second quarter. American Century Companies Inc. now owns 4,706,803 shares of the company’s stock worth $697,407,000 after purchasing an additional 1,779,157 shares during the period. 70.55% of the stock is currently owned by institutional investors.

In other PepsiCo news, SVP Marie T. Gallagher sold 7,409 shares of the business’s stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $155.70, for a total value of $1,153,581.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

Several equities analysts recently weighed in on PEP shares. Wells Fargo & Company raised their price target on shares of PepsiCo from $147.00 to $160.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 14th. Royal Bank of Canada raised their price objective on PepsiCo from $153.00 to $155.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 14th. Cowen reiterated a “buy” rating and issued a $165.00 target price on shares of PepsiCo in a report on Friday, July 9th. Truist upped their price objective on shares of PepsiCo from $135.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, July 14th. Finally, Credit Suisse Group downgraded PepsiCo from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $155.00 to $157.00 in a research note on Wednesday, July 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $159.58.

Shares of NASDAQ PEP traded up $1.11 during midday trading on Wednesday, hitting $156.26. The company’s stock had a trading volume of 125,365 shares, compared to its average volume of 4,954,938. The stock has a fifty day moving average price of $155.51 and a 200 day moving average price of $147.54. The firm has a market capitalization of $215.97 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 2.96 and a beta of 0.60. PepsiCo, Inc. has a one year low of $128.32 and a one year high of $159.63. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 2.47.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Monday, July 12th. The company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.53 by $0.19. The company had revenue of $19.22 billion during the quarter, compared to analysts’ expectations of $17.95 billion. PepsiCo had a net margin of 11.01% and a return on equity of 59.56%. PepsiCo’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. On average, equities research analysts predict that PepsiCo, Inc. will post 6.24 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 3rd will be paid a dividend of $1.075 per share. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $4.30 annualized dividend and a yield of 2.75%. PepsiCo’s dividend payout ratio is currently 77.90%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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