PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 825,814 shares of the company’s stock after selling 8,174 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in PepsiCo were worth $125,573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Norges Bank acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $2,729,565,000. Raymond James Financial Inc. acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $589,307,000. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. Franklin Resources Inc. grew its position in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.3 %

Shares of NASDAQ PEP opened at $133.76 on Tuesday. The stock has a fifty day moving average price of $147.46 and a 200 day moving average price of $153.37. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12-month low of $131.80 and a 12-month high of $183.41. The company has a market cap of $183.43 billion, a P/E ratio of 19.25, a P/E/G ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the company earned $1.61 EPS. PepsiCo’s quarterly revenue was down 1.8% on a year-over-year basis. Research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo’s payout ratio is 79.71%.

Analyst Ratings Changes

PEP has been the topic of several research reports. HSBC lowered their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Citigroup decreased their target price on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised their target price on shares of PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Finally, Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus price target of $160.69.

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.