Parallel Advisors LLC Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Parallel Advisors LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,752 shares of the company’s stock after selling 4,387 shares during the period. Parallel Advisors LLC’s holdings in PepsiCo were worth $5,589,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. State Street Corp lifted its holdings 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 valued at $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of PepsiCo by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after buying an additional 689,383 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 1.9 %

Shares of PepsiCo stock opened at $151.34 on Tuesday. The company has a market capitalization of $207.56 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 3.09 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The firm’s 50-day moving average price is $148.86 and its two-hundred day moving average price is $159.75.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the business earned $1.78 EPS. On average, analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is currently 77.99%.

Wall Street Analyst Weigh In

PEP has been the subject of a number of analyst reports. HSBC reduced their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Piper Sandler initiated coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Wells Fargo & Company cut their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. BNP Paribas cut their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, CICC Research restated a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $170.59.

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.