PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 24.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,383 shares of the company’s stock after selling 789 shares during the period. Congress Asset Management Co.’s holdings in PepsiCo were worth $362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEP. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the third quarter valued at about $28,000. Collier Financial purchased a new stake in PepsiCo in the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. lifted its holdings in shares of PepsiCo by 93.2% in 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. Finally, Bay Harbor Wealth Management LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.5 %

Shares of NASDAQ PEP opened at $144.10 on Wednesday. The firm’s 50 day moving average price is $149.48 and its 200 day moving average price is $162.84. 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 firm has a market cap of $197.63 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the previous year, the business earned $1.78 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced 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. 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 presently 77.99%.

Analyst Ratings Changes

A number of research firms have commented on PEP. UBS Group reduced their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. HSBC decreased their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $171.47.

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.