Cannell & Spears LLC Has $22.25 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Cannell & Spears LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 146,342 shares of the company’s stock after selling 2,632 shares during the period. Cannell & Spears LLC’s holdings in PepsiCo were worth $22,253,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in shares of PepsiCo during the fourth quarter worth about $2,729,565,000. Raymond James Financial Inc. acquired a new stake in PepsiCo during the 4th quarter valued at approximately $589,307,000. Charles Schwab Investment Management Inc. raised its holdings in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. State Street Corp lifted its position in shares of PepsiCo by 5.1% in the 3rd 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 period. Finally, Franklin Resources Inc. boosted its stake in shares of PepsiCo by 21.1% in 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 during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.3 %

PEP opened at $149.27 on Monday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The firm has a market capitalization of $204.72 billion, a PE ratio of 21.48, a P/E/G ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company’s 50-day moving average is $149.25 and its 200 day moving average is $157.91.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. PepsiCo’s payout ratio is 77.99%.

Analyst Ratings Changes

PEP has been the topic of several recent analyst reports. Barclays lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $168.00 to $156.00 in a report on Tuesday, March 18th. Royal Bank of Canada initiated coverage on PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price objective on the stock. BNP Paribas decreased their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. HSBC dropped their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group reduced their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six 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 $169.88.

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.