Connable Office Inc. Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

Connable Office Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,631 shares of the company’s stock after selling 230 shares during the quarter. Connable Office Inc.’s holdings in PepsiCo were worth $2,377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Richard W. Paul & Associates LLC grew its stake in shares of PepsiCo by 9.5% during the 4th quarter. Richard W. Paul & Associates LLC now owns 4,811 shares of the company’s stock worth $732,000 after purchasing an additional 418 shares during the period. Metis Global Partners LLC grew its stake in PepsiCo by 2.9% in the 4th quarter. Metis Global Partners LLC now owns 68,296 shares of the company’s stock valued at $10,385,000 after acquiring an additional 1,924 shares during the period. Noble Wealth Management PBC acquired a new stake in PepsiCo in the 4th quarter valued at $40,000. Fisher Asset Management LLC grew its stake in PepsiCo by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 8,100,821 shares of the company’s stock valued at $1,231,811,000 after acquiring an additional 246,553 shares during the period. Finally, Maripau Wealth Management LLC acquired a new stake in PepsiCo in the 4th quarter valued at $245,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group dropped their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. BNP Paribas dropped their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Finally, StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Up 1.0 %

NASDAQ PEP opened at $153.47 on Friday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The business’s fifty day simple moving average is $148.59 and its 200-day simple moving average is $161.60. The firm has a market cap of $210.48 billion, a PE ratio of 22.08, a P/E/G ratio of 3.09 and a beta of 0.54.

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

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $1.355 dividend. 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 (DPR) is currently 77.99%.

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.