Connor Clark & Lunn Investment Management Ltd. Sells 25,205 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 74.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,431 shares of the company’s stock after selling 25,205 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in PepsiCo were worth $1,282,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PEP. Raymond James Financial Inc. acquired a new stake in PepsiCo in the fourth quarter worth $589,307,000. Charles Schwab Investment Management Inc. grew its stake in shares of 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 buying an additional 3,856,193 shares during the period. State Street Corp raised its stake in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. Franklin Resources Inc. boosted its holdings in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of PepsiCo by 211.4% during the third 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 in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.6 %

Shares of PEP opened at $148.11 on Thursday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The business has a 50-day moving average of $148.97 and a 200 day moving average of $159.50. The firm has a market cap of $203.13 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid 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 dividend yield of 3.66%. PepsiCo’s payout ratio is 77.99%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $168.00 to $156.00 in a report on Tuesday. TD Cowen cut their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. HSBC lowered their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Evercore ISI decreased their price target on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Finally, Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $169.88.

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.