Bridges Investment Management Inc. Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Bridges Investment Management Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,356 shares of the company’s stock after selling 2,364 shares during the quarter. Bridges Investment Management Inc.’s holdings in PepsiCo were worth $32,595,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp increased its stake in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC raised its position in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after buying an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 5.6% during 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 purchasing an additional 1,125,059 shares during the period. Bank of New York Mellon Corp increased its position in PepsiCo by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after acquiring an additional 689,383 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of PepsiCo by 21.1% during the 3rd 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. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on PEP shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. BNP Paribas reduced their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. TD Cowen cut their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. HSBC decreased their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Morgan Stanley reduced their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Up 1.0 %

Shares of NASDAQ:PEP opened at $153.47 on Friday. The firm’s 50-day moving average is $148.59 and its two-hundred day moving average is $161.53. The firm has a market capitalization of $210.48 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results 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 business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.78 EPS. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid 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 3.53%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

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.