PepsiCo, Inc. (NASDAQ:PEP) Stock Position Reduced by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,958 shares of the company’s stock after selling 101 shares during the period. New Covenant Trust Company N.A.’s holdings in PepsiCo were worth $297,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PEP. Charles Schwab Investment Management Inc. increased its position in PepsiCo by 18.1% in 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 acquiring an additional 3,856,193 shares during the period. State Street Corp increased its position in PepsiCo by 5.1% in 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 during the period. Franklin Resources Inc. increased 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 acquiring an additional 2,264,445 shares during the period. Swedbank AB increased its position in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the period. Finally, Van ECK Associates Corp increased its position in PepsiCo by 360.0% in the 4th quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock valued at $258,158,000 after acquiring an additional 1,328,672 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP opened at $154.19 on Wednesday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock has a fifty day moving average price of $148.71 and a 200 day moving average price of $161.20. 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 stock has a market cap of $211.47 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share 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 company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same period last year, the company earned $1.78 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. Analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.52%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research analyst reports. UBS Group lowered their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. BNP Paribas lowered their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $171.47.

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.