Fayez Sarofim & Co Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Fayez Sarofim & Co lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,985,941 shares of the company’s stock after selling 855 shares during the period. Fayez Sarofim & Co owned approximately 0.22% of PepsiCo worth $456,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Howard Capital Management Group LLC increased its stake in shares of PepsiCo by 2.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after purchasing an additional 90 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of PepsiCo during the third quarter valued at approximately $996,000. Invst LLC raised its stake in PepsiCo by 4.6% in the 3rd quarter. Invst LLC now owns 3,003 shares of the company’s stock valued at $511,000 after purchasing an additional 133 shares during the last quarter. Virtu Financial LLC acquired a new stake in PepsiCo during the 3rd quarter worth $1,611,000. Finally, Te Ahumairangi Investment Management Ltd lifted its stake in shares of PepsiCo by 3.4% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 16,624 shares of the company’s stock worth $2,811,000 after buying an additional 550 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP opened at $142.84 on Monday. The business’s fifty day moving average price is $148.16 and its 200 day moving average price is $154.74. The firm has a market capitalization of $195.88 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a 12 month low of $138.33 and a 12 month high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

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

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.79%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of analyst reports. Citigroup dropped their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. TD Cowen lowered their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada assumed coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 target price on the stock. UBS Group dropped their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Barclays cut PepsiCo from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $168.00 to $156.00 in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $168.12.

About PepsiCo

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.