New England Research & Management Inc. Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

New England Research & Management Inc. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,131 shares of the company’s stock after selling 255 shares during the period. New England Research & Management Inc.’s holdings in PepsiCo were worth $932,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PEP. International Assets Investment Management LLC boosted its holdings in PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after acquiring an additional 3,201,676 shares during the period. State Street Corp grew its holdings in shares of PepsiCo by 5.1% in 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 during the last quarter. Franklin Resources Inc. raised its holdings in 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 buying an additional 2,264,445 shares during the last quarter. Swedbank AB boosted its position in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PepsiCo by 5.6% in 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 acquiring an additional 1,125,059 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP opened at $150.37 on Thursday. The stock has a market cap of $206.31 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.86 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company’s 50 day moving average is $153.68 and its two-hundred day moving average is $165.17. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.60%. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $172.00 price target on shares of PepsiCo in a research report on Wednesday. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $176.73.

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.