Bleakley Financial Group LLC Sells 4,845 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bleakley Financial Group LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 12.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,271 shares of the company’s stock after selling 4,845 shares during the period. Bleakley Financial Group LLC’s holdings in PepsiCo were worth $5,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares in the last quarter. State Street Corp lifted its position in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. boosted its position in PepsiCo by 21.1% during the third 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. Swedbank AB raised its position in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 5.6% in the 3rd 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 last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays decreased their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Finally, HSBC reduced their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.76.

PepsiCo Stock Performance

PepsiCo stock opened at $145.66 on Thursday. The stock has a market cap of $199.84 billion, a PE ratio of 21.48, a P/E/G ratio of 2.92 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 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 business’s 50-day moving average price is $152.49 and its two-hundred day moving average price is $164.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 57.32% and a net margin of 10.18%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 EPS. As a group, analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal 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 given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. PepsiCo’s dividend payout ratio (DPR) is currently 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.