PepsiCo, Inc. (NASDAQ:PEP) Stock Position Reduced by DLK Investment Management LLC

DLK Investment Management LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,529 shares of the company’s stock after selling 268 shares during the quarter. PepsiCo makes up approximately 2.3% of DLK Investment Management LLC’s holdings, making the stock its 18th largest position. DLK Investment Management LLC’s holdings in PepsiCo were worth $5,555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position in shares of 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 purchasing an additional 2,775,679 shares during the period. Geode Capital Management LLC lifted its stake in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of PepsiCo by 5.6% during 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. Legal & General Group Plc grew its position in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in 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. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $148.25 on Monday. The stock has a fifty day simple moving average of $155.37 and a 200 day simple moving average of $165.86. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a market capitalization of $203.40 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.57 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors 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 3.66%. PepsiCo’s payout ratio is presently 79.94%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PEP shares. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. TD Cowen lowered their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, UBS Group dropped their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average target price of $178.60.

About PepsiCo

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.