Rhumbline Advisers Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Rhumbline Advisers decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,823,244 shares of the company’s stock after selling 21,917 shares during the quarter. Rhumbline Advisers owned about 0.21% of PepsiCo worth $429,302,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC boosted its holdings in PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after acquiring an additional 870,451 shares during the last quarter. Janus Henderson Group PLC increased its stake in PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares during the period. Finally, IHT Wealth Management LLC grew its holdings in shares of PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PEP opened at $143.39 on Friday. The firm has a market capitalization of $196.66 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.89 and a beta of 0.54. The firm’s fifty day simple moving average is $150.09 and its 200-day simple moving average is $163.41. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results 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 analysts’ expectations of $27.89 billion. During the same period last year, the firm earned $1.78 earnings per share. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 3.78%. PepsiCo’s dividend payout ratio is currently 77.99%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PEP shares. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. BNP Paribas dropped their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Evercore ISI decreased their price target on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Citigroup cut their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, Wells Fargo & Company lowered their target price on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus target price of $171.47.

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.