Cypress Capital Group Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Cypress Capital Group trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,888 shares of the company’s stock after selling 4,806 shares during the period. Cypress Capital Group’s holdings in PepsiCo were worth $3,937,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PEP. Collier Financial bought a new position in shares of PepsiCo during the 4th quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at $31,000. Rakuten Securities Inc. lifted its holdings in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the period. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo during the 4th quarter valued at $30,000. Finally, Bay Harbor Wealth Management LLC bought a new position in shares of PepsiCo during the 4th quarter valued at $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PepsiCo stock opened at $154.19 on Wednesday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company 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. The firm’s fifty day moving average is $148.71 and its 200 day moving average is $161.20. 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 (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping 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 firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the previous year, the firm posted $1.78 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued 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 3.52%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Analyst Ratings Changes

Several research firms have recently weighed in on PEP. Wells Fargo & Company lowered their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Citigroup lowered their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. TD Cowen decreased their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Finally, CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo 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.