Sfmg LLC Sells 2,176 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sfmg LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 17.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,069 shares of the company’s stock after selling 2,176 shares during the period. Sfmg LLC’s holdings in PepsiCo were worth $1,531,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PEP. Raymond James Financial Inc. bought a new position in PepsiCo in the 4th quarter valued at approximately $589,307,000. Charles Schwab Investment Management Inc. raised its holdings in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. State Street Corp raised its holdings in PepsiCo by 5.1% during 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. Franklin Resources Inc. raised its holdings in PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the last quarter. Finally, Swedbank AB raised its holdings in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $145.45 on Friday. The company has a fifty day simple moving average of $149.04 and a 200 day simple moving average of $159.22. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The company has a market cap of $199.48 billion, a P/E ratio of 20.93, a PEG ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.78 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed 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. This represents a $5.42 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio is 77.99%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. TD Cowen lowered their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. BNP Paribas reduced their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price objective 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. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $169.88.

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.