PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 99.3% in the fourth quarter, Holdings Channel reports. The firm owned 21,403 shares of the company’s stock after selling 3,198,982 shares during the period. International Assets Investment Management LLC’s holdings in PepsiCo were worth $3,215,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares during the last quarter. Legal & General Group Plc raised its stake in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares in the last quarter. Finally, Franklin Resources Inc. lifted 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 buying an additional 2,264,445 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP stock traded up $0.37 during midday trading on Wednesday, reaching $145.77. 1,252,236 shares of the company were exchanged, compared to its average volume of 5,567,982. The company’s 50 day moving average price is $158.60 and its two-hundred day moving average price is $166.97. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market cap of $199.99 billion, a P/E ratio of 21.50, a PEG ratio of 2.94 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $144.56 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the firm earned $2.25 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. PepsiCo’s payout ratio is currently 79.94%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Piper Sandler started coverage on PepsiCo in a research report on Tuesday. They set an “overweight” rating and a $171.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $182.29.

PepsiCo Company 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.