PepsiCo, Inc. $PEP Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,556 shares of the company’s stock after selling 4,624 shares during the quarter. Howe & Rusling Inc.’s holdings in PepsiCo were worth $13,571,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its stake in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Caxton Associates LLP purchased a new stake in PepsiCo during the first quarter valued at about $251,000. Sivia Capital Partners LLC lifted its stake in PepsiCo by 138.5% during the second quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock valued at $862,000 after buying an additional 3,790 shares in the last quarter. Schnieders Capital Management LLC. lifted its stake in PepsiCo by 10.1% during the second quarter. Schnieders Capital Management LLC. now owns 38,164 shares of the company’s stock valued at $5,039,000 after buying an additional 3,502 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in PepsiCo by 45.5% during the second quarter. Sei Investments Co. now owns 536,133 shares of the company’s stock valued at $70,789,000 after buying an additional 167,707 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $146.12 on Wednesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The stock’s 50-day moving average is $150.68 and its two-hundred day moving average is $152.40. The firm has a market cap of $199.71 billion, a P/E ratio of 22.94, a PEG ratio of 2.65 and a beta of 0.35.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.06. The business had revenue of $19.44 billion during the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. PepsiCo’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 EPS. Analysts predict that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.1%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is currently 92.94%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PEP. TD Cowen reduced their price objective on shares of PepsiCo from $165.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, June 12th. Evercore upped their price objective on shares of PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PepsiCo from $169.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, April 17th. BNP Paribas Exane upped their price objective on shares of PepsiCo from $191.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Sanford C. Bernstein started coverage on PepsiCo in a research note on Thursday, June 11th. They issued a “market perform” rating and a $143.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $167.35.

PepsiCo News Roundup

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced its 54th consecutive annual dividend increase, reinforcing its appeal as a defensive, income-generating stock at a time when Treasury yields are elevated. PepsiCo’s 3.9% Yield Is a Safe-Haven Masterclass
• Positive Sentiment: PepsiCo debuted a new limited-edition soda, which could help drive short-term consumer interest and support beverage sales. PepsiCo just debuted a new limited-edition soda that’s guaranteed to sell out
• Positive Sentiment: PepsiCo continues to highlight future growth initiatives, including experiential drinks and regenerative farming partnerships, which suggest management is still investing in new revenue streams. PepsiCo Targets Experiential Drinks And Regenerative Farming For Future Growth
• Neutral Sentiment: PepsiCo senior director Maneesha Khanna stepped down after 13 years; this looks like a personnel change rather than a material business event. PepsiCo Senior Director Maneesha Khanna steps down after 13 years
• Neutral Sentiment: PepsiCo was mentioned in articles about broader S&P 500 ideas and sustainability events, but those items do not appear to change the company’s near-term fundamentals. Sustainability LIVE Announces Final Week to Register for The Leadership Summit
• Negative Sentiment: Piper Sandler lowered its price target on PepsiCo, which can weigh on sentiment by signaling a more cautious outlook for the stock’s upside. PepsiCo (PEP) Price Target Lowered at Piper Sandler. Here is Why

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.