Pinnacle Financial Partners Inc Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Pinnacle Financial Partners Inc reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,754 shares of the company’s stock after selling 22,577 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in PepsiCo were worth $17,263,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PEP. State Street Corp increased its holdings 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 purchasing an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC increased its holdings in PepsiCo by 1.8% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the last quarter. Franklin Resources Inc. increased its holdings in PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in PepsiCo by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after purchasing an additional 313,468 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 3.0 %

Shares of NASDAQ PEP opened at $153.50 on Friday. The company has a market cap of $210.53 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 3.09 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The business has a fifty day simple moving average of $148.75 and a 200-day simple moving average of $162.39.

PepsiCo (NASDAQ:PEP) last posted 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 firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.53%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PEP shares. Piper Sandler started coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. Royal Bank of Canada started coverage on PepsiCo in a research report on Tuesday, February 4th. They issued a $172.00 target price for the company. Morgan Stanley reduced their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Citigroup reduced their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. reduced their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $171.47.

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.