Corebridge Financial Inc. Has $61.52 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Corebridge Financial Inc. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,547 shares of the company’s stock after selling 19,289 shares during the quarter. Corebridge Financial Inc.’s holdings in PepsiCo were worth $61,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Collier Financial purchased a new stake in shares of PepsiCo in the fourth quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the 3rd quarter worth about $31,000. Creative Capital Management Investments LLC acquired a new stake in PepsiCo during the 4th quarter worth about $30,000. Bay Harbor Wealth Management LLC purchased a new position in PepsiCo during the 4th quarter valued at about $34,000. Finally, Human Investing LLC purchased a new stake in shares of PepsiCo in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 1.2 %

Shares of NASDAQ:PEP opened at $145.45 on Monday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The stock’s 50-day moving average is $149.04 and its 200-day moving average is $158.96. The company has a market cap of $199.48 billion, a P/E ratio of 20.93, a P/E/G ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (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 firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the firm posted $1.78 EPS. The company’s revenue was down .2% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

PEP has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. BNP Paribas dropped their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. 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. Finally, Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $169.88.

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.