Pettee Investors Inc. Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Pettee Investors Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,227 shares of the company’s stock after selling 70 shares during the quarter. Pettee Investors Inc.’s holdings in PepsiCo were worth $1,707,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in PepsiCo during the fourth quarter worth about $589,307,000. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. State Street Corp boosted its stake in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. boosted its stake in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Finally, Swedbank AB boosted its stake in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.1 %

Shares of PEP stock opened at $154.44 on Friday. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a market cap of $211.81 billion, a P/E ratio of 22.22, 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. The company has a 50 day simple moving average of $148.80 and a two-hundred day simple moving average of $160.86.

PepsiCo (NASDAQ:PEP) last announced its 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 net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.51%. PepsiCo’s dividend payout ratio is currently 77.99%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company dropped their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price 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.