Cannell & Spears LLC Sells 2,632 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cannell & Spears LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,342 shares of the company’s stock after selling 2,632 shares during the period. Cannell & Spears LLC’s holdings in PepsiCo were worth $22,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Howard Capital Management Group LLC boosted its holdings in PepsiCo by 2.0% during the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after buying an additional 90 shares during the last quarter. Fred Alger Management LLC boosted its stake in PepsiCo by 1.2% during the 3rd quarter. Fred Alger Management LLC now owns 50,431 shares of the company’s stock worth $8,576,000 after acquiring an additional 589 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its holdings in PepsiCo by 1.6% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 112,987 shares of the company’s stock valued at $19,213,000 after purchasing an additional 1,797 shares during the period. Semmax Financial Advisors Inc. increased its stake in PepsiCo by 13.9% in the third quarter. Semmax Financial Advisors Inc. now owns 3,534 shares of the company’s stock valued at $581,000 after purchasing an additional 432 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in PepsiCo by 233.3% in the third quarter. True Wealth Design LLC now owns 1,360 shares of the company’s stock worth $231,000 after purchasing an additional 952 shares during the period. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PEP has been the subject of several research analyst reports. HSBC decreased their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. BNP Paribas lowered their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $169.88.

PepsiCo Stock Down 0.3 %

PEP stock opened at $149.27 on Monday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The business’s 50 day simple moving average is $149.25 and its 200 day simple moving average is $157.91. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $204.72 billion, a PE ratio of 21.48, a PEG ratio of 3.09 and a beta of 0.52.

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

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.63%. PepsiCo’s payout ratio is presently 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.