Interchange Capital Partners LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Interchange Capital Partners LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.1% during the fourth quarter, HoldingsChannel reports. The firm owned 10,746 shares of the company’s stock after selling 1,213 shares during the quarter. Interchange Capital Partners LLC’s holdings in PepsiCo were worth $1,639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after buying an additional 1,376,133 shares in the last quarter. State Street Corp boosted its stake in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC grew its holdings in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of PepsiCo by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after purchasing an additional 689,383 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Evercore ISI cut their price objective on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. HSBC decreased their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. cut their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $169.88.

PepsiCo Stock Down 1.2 %

NASDAQ PEP opened at $145.45 on Monday. The stock’s 50-day moving average price is $149.04 and its 200-day moving average price is $158.96. The company has a market capitalization of $199.48 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. 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, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly 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. The business had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.78 earnings per share. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm 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 dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.73%. PepsiCo’s dividend payout ratio is presently 77.99%.

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.