National Bank of Canada FI Reduces Position in PepsiCo, Inc. $PEP

National Bank of Canada FI cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,967,790 shares of the company’s stock after selling 269,867 shares during the period. National Bank of Canada FI’s holdings in PepsiCo were worth $425,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PEP. Swiss RE Ltd. purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $28,000. MH & Associates Securities Management Corp ADV purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $29,000. Imprint Wealth LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $31,000. Strategic Advocates LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $33,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of PepsiCo from $169.00 to $173.00 and gave the company a “buy” rating in a report on Friday, April 17th. Evercore upped their target price on shares of PepsiCo from $165.00 to $170.00 in a report on Friday, April 17th. UBS Group lowered their target price on shares of PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Rothschild & Co Redburn upped their target price on shares of PepsiCo from $130.00 to $132.00 in a report on Monday, May 11th. Finally, Piper Sandler lowered their target price on shares of PepsiCo from $181.00 to $178.00 and set an “overweight” rating for the company in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $167.35.

PepsiCo Stock Down 0.1%

Shares of NASDAQ:PEP opened at $146.12 on Wednesday. The stock has a market cap of $199.71 billion, a P/E ratio of 22.94, a P/E/G ratio of 2.65 and a beta of 0.35. The firm has a fifty day moving average price of $150.68 and a 200 day moving average price of $152.40. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. PepsiCo’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a dividend of $1.48 per share. The ex-dividend date is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a yield of 4.1%. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio (DPR) is currently 92.94%.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced its 54th consecutive annual dividend increase, reinforcing its appeal as a defensive, income-generating stock at a time when Treasury yields are elevated. PepsiCo’s 3.9% Yield Is a Safe-Haven Masterclass
• Positive Sentiment: PepsiCo debuted a new limited-edition soda, which could help drive short-term consumer interest and support beverage sales. PepsiCo just debuted a new limited-edition soda that’s guaranteed to sell out
• Positive Sentiment: PepsiCo continues to highlight future growth initiatives, including experiential drinks and regenerative farming partnerships, which suggest management is still investing in new revenue streams. PepsiCo Targets Experiential Drinks And Regenerative Farming For Future Growth
• Neutral Sentiment: PepsiCo senior director Maneesha Khanna stepped down after 13 years; this looks like a personnel change rather than a material business event. PepsiCo Senior Director Maneesha Khanna steps down after 13 years
• Neutral Sentiment: PepsiCo was mentioned in articles about broader S&P 500 ideas and sustainability events, but those items do not appear to change the company’s near-term fundamentals. Sustainability LIVE Announces Final Week to Register for The Leadership Summit
• Negative Sentiment: Piper Sandler lowered its price target on PepsiCo, which can weigh on sentiment by signaling a more cautious outlook for the stock’s upside. PepsiCo (PEP) Price Target Lowered at Piper Sandler. Here is Why

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.