PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Norway Savings Bank

Norway Savings Bank lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,890 shares of the company’s stock after selling 90 shares during the period. Norway Savings Bank’s holdings in PepsiCo were worth $1,808,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its holdings in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $31,000. Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the second quarter valued at about $34,000. Finally, Rakuten Securities Inc. grew its position in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday. They issued an “overweight” rating and a $171.00 price objective for the company. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $182.29.

PepsiCo Trading Down 0.2 %

Shares of PepsiCo stock traded down $0.34 during trading hours on Tuesday, reaching $145.93. The stock had a trading volume of 3,820,903 shares, compared to its average volume of 5,845,413. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1 year low of $145.77 and a 1 year high of $183.41. The firm has a market capitalization of $200.21 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 2.94 and a beta of 0.54. The firm has a 50 day simple moving average of $159.04 and a two-hundred day simple moving average of $167.12.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the previous year, the firm earned $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.