Pinnacle Financial Partners Inc Has $17.26 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Pinnacle Financial Partners Inc reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 16.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 112,754 shares of the company’s stock after selling 22,577 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in PepsiCo were worth $17,263,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp increased its position in PepsiCo by 5.1% in the 3rd 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 last quarter. Geode Capital Management LLC increased its holdings in shares of PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of PepsiCo by 5.6% during the 3rd 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 last quarter. Franklin Resources Inc. increased its holdings in shares of PepsiCo by 21.1% during the 3rd 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 during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of PepsiCo by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after acquiring an additional 313,468 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 3.0 %

NASDAQ PEP opened at $153.50 on Friday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a market capitalization of $210.53 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. The stock has a fifty day moving average of $148.75 and a 200-day moving average of $162.39.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $27.89 billion. During the same period last year, the company earned $1.78 EPS. The firm’s revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.53%. PepsiCo’s dividend payout ratio is presently 77.99%.

Analyst Ratings Changes

Several brokerages recently weighed in on PEP. Royal Bank of Canada began coverage on PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 target price for the company. BNP Paribas reduced their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Piper Sandler began coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One investment 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo 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.