Allspring Global Investments Holdings LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Allspring Global Investments Holdings LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 205,654 shares of the company’s stock after selling 14,836 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PepsiCo were worth $35,992,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA grew its position in shares of PepsiCo by 80.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after buying an additional 70 shares in the last quarter. Fortis Group Advisors LLC grew its holdings in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares in the last quarter. Life Planning Partners Inc purchased a new position in PepsiCo during the 4th quarter valued at about $34,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of PepsiCo in the 1st quarter valued at about $35,000. Finally, Naples Money Management LLC purchased a new stake in shares of PepsiCo in the 4th quarter worth approximately $36,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. TD Cowen cut their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Monday, March 18th. Finally, Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $186.64.

Insider Activity at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.

PepsiCo Stock Down 0.6 %

NASDAQ:PEP opened at $162.60 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The company has a market cap of $223.54 billion, a PE ratio of 24.45, a P/E/G ratio of 2.69 and a beta of 0.52. The company’s 50 day moving average is $172.65 and its two-hundred day moving average is $170.19.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.50 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.33%. PepsiCo’s payout ratio is 81.50%.

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.