Parthenon LLC Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Parthenon LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,773 shares of the company’s stock after selling 515 shares during the quarter. PepsiCo makes up 1.9% of Parthenon LLC’s investment portfolio, making the stock its 17th largest position. Parthenon LLC’s holdings in PepsiCo were worth $15,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC lifted its stake in shares of PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after buying an additional 8,406 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after purchasing an additional 870,451 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of 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 purchasing an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake 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 last quarter. Finally, IHT Wealth Management LLC lifted its position in PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of research analyst reports. Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Barclays lowered their price objective on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. TD Cowen cut their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. One 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 company’s stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Performance

Shares of PEP stock opened at $145.81 on Thursday. The company’s fifty day moving average price is $149.16 and its two-hundred day moving average price is $162.60. 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 firm has a market capitalization of $199.98 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.95 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS 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 firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the business posted $1.78 earnings per share. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. On average, research analysts anticipate that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

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.