Allspring Global Investments Holdings LLC Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Allspring Global Investments Holdings LLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 201,636 shares of the company’s stock after selling 4,018 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PepsiCo were worth $33,256,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Valued Wealth Advisors LLC increased its stake in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares in the last quarter. POM Investment Strategies LLC raised its stake in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Fortis Group Advisors LLC lifted its holdings in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of PepsiCo during the first quarter worth $35,000. Finally, True Wealth Design LLC raised its position in shares of PepsiCo by 812.0% in the fourth quarter. True Wealth Design LLC now owns 228 shares of the company’s stock valued at $39,000 after buying an additional 203 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent research reports. BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Bank of America cut their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, July 8th. TD Cowen cut their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada decreased their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $185.53.

PepsiCo Stock Up 0.2 %

PepsiCo stock traded up $0.39 during mid-day trading on Tuesday, hitting $176.36. The company had a trading volume of 309,615 shares, compared to its average volume of 5,428,367. The stock has a market cap of $242.46 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 2.98 and a beta of 0.52. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The business has a fifty day moving average of $169.37 and a 200 day moving average of $170.69.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same period last year, the firm posted $2.09 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.07%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

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.