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

Profit Investment Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,752 shares of the company’s stock after selling 206 shares during the quarter. Profit Investment Management LLC’s holdings in PepsiCo were worth $875,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC boosted its stake in PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Legal & General Group Plc lifted its holdings in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Finally, Franklin Resources Inc. boosted 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 in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEP. TD Cowen decreased their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $180.27.

PepsiCo Stock Performance

Shares of PEP opened at $146.58 on Friday. 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 12 month low of $141.51 and a 12 month high of $183.41. The firm has a fifty day simple moving average of $156.06 and a 200 day simple moving average of $166.05. The stock has a market capitalization of $201.11 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.57 and a beta of 0.54.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.70%. 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.