Magellan Asset Management Ltd Sells 3,242 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Magellan Asset Management Ltd lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 83.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 639 shares of the company’s stock after selling 3,242 shares during the period. Magellan Asset Management Ltd’s holdings in PepsiCo were worth $97,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PEP. Arete Wealth Advisors LLC grew its holdings in PepsiCo by 31.0% during the fourth quarter. Arete Wealth Advisors LLC now owns 16,124 shares of the company’s stock valued at $2,447,000 after purchasing an additional 3,811 shares during the period. World Investment Advisors grew its stake in shares of PepsiCo by 4.5% during the 4th quarter. World Investment Advisors now owns 73,816 shares of the company’s stock worth $11,225,000 after acquiring an additional 3,210 shares during the period. OneAscent Financial Services LLC raised its stake in PepsiCo by 2.8% in the 4th quarter. OneAscent Financial Services LLC now owns 5,172 shares of the company’s stock valued at $792,000 after acquiring an additional 141 shares during the period. Bryce Point Capital LLC purchased a new stake in PepsiCo during the fourth quarter valued at about $508,000. Finally, Private Portfolio Partners LLC increased its stake in shares of PepsiCo by 4.0% in the fourth quarter. Private Portfolio Partners LLC now owns 3,287 shares of the company’s stock worth $500,000 after purchasing an additional 125 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Down 0.4 %

PEP stock opened at $149.12 on Thursday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a market capitalization of $204.52 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company’s 50 day moving average price is $149.32 and its two-hundred day moving average price is $157.46. 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 business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The company’s revenue was down .2% on a year-over-year basis. As a group, analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo’s dividend payout ratio is 77.99%.

Wall Street Analyst Weigh In

PEP has been the subject of several analyst reports. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Morgan Stanley decreased their price objective on 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 cut their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.