Ingalls & Snyder LLC Has $10.41 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Ingalls & Snyder LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 68,433 shares of the company’s stock after selling 1,081 shares during the period. Ingalls & Snyder LLC’s holdings in PepsiCo were worth $10,406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB increased its position in shares of PepsiCo by 15.8% in the third quarter. AMF Tjanstepension AB now owns 293,824 shares of the company’s stock worth $50,016,000 after purchasing an additional 40,031 shares during the period. ORG Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter worth $44,000. Swedbank AB increased its position in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the period. Foster Victor Wealth Advisors LLC increased its position in shares of PepsiCo by 3.7% in the third quarter. Foster Victor Wealth Advisors LLC now owns 63,223 shares of the company’s stock worth $10,909,000 after purchasing an additional 2,266 shares during the period. Finally, Capital Advisors Wealth Management LLC increased its position in shares of PepsiCo by 3.5% in the third quarter. Capital Advisors Wealth Management LLC now owns 5,017 shares of the company’s stock worth $853,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PEP. BNP Paribas decreased their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada started coverage on PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price target on the stock. Wells Fargo & Company cut their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. Finally, TD Cowen cut their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Price Performance

Shares of PEP opened at $143.99 on Thursday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82. The business’s 50 day moving average price is $150.73 and its two-hundred day moving average price is $163.68. The firm has a market cap of $197.48 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $27.89 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.76%. PepsiCo’s dividend payout ratio is 77.99%.

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.