PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,506,274 shares of the company’s stock after purchasing an additional 2,432 shares during the period. HighTower Advisors LLC owned approximately 0.18% of PepsiCo worth $381,104,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PEP. Raymond James Financial Inc. acquired a new stake in shares of PepsiCo in the fourth quarter valued at $589,307,000. Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. State Street Corp raised its stake 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 valued at $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PEP opened at $152.33 on Wednesday. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The stock’s 50 day moving average is $148.90 and its two-hundred day moving average is $160.46. The firm has a market capitalization of $208.92 billion, a PE ratio of 21.92, a P/E/G ratio of 3.09 and a beta of 0.52. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the previous year, the company earned $1.78 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business 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 dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.56%. PepsiCo’s payout ratio is 77.99%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. TD Cowen cut their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $172.35.

PepsiCo Company 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.