PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Conning Inc.

Conning Inc. boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 238,381 shares of the company’s stock after purchasing an additional 21,642 shares during the period. PepsiCo comprises approximately 1.3% of Conning Inc.’s portfolio, making the stock its 24th largest position. Conning Inc.’s holdings in PepsiCo were worth $36,248,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the third quarter valued at $31,000. Rakuten Securities Inc. lifted its holdings in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the period. Bay Harbor Wealth Management LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $34,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of PepsiCo during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of a number of research reports. Evercore ISI lowered their price objective on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday. Morgan Stanley lowered their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Royal Bank of Canada started coverage on PepsiCo in a research note on Tuesday. They set a $172.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Trading Down 0.5 %

PepsiCo stock opened at $144.58 on Friday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The stock has a market capitalization of $198.29 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The firm has a 50 day simple moving average of $151.80 and a 200-day simple moving average of $164.26. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 EPS. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. PepsiCo’s payout ratio 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.