River Road Asset Management LLC Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

River Road Asset Management LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,515 shares of the company’s stock after selling 9,572 shares during the quarter. River Road Asset Management LLC’s holdings in PepsiCo were worth $7,681,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PEP. Paulson Wealth Management Inc. lifted its holdings in PepsiCo by 2.1% during the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after purchasing an additional 60 shares in the last quarter. Tcfg Wealth Management LLC boosted its stake in shares of PepsiCo by 3.5% in the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock worth $295,000 after acquiring an additional 66 shares during the period. BIP Wealth LLC raised its stake in PepsiCo by 1.9% during the 3rd quarter. BIP Wealth LLC now owns 3,601 shares of the company’s stock valued at $612,000 after purchasing an additional 67 shares during the period. Lincoln Capital LLC grew its holdings in PepsiCo by 0.4% during the 4th quarter. Lincoln Capital LLC now owns 16,808 shares of the company’s stock valued at $2,556,000 after buying an additional 70 shares in the last quarter. Finally, Marshall Financial Group LLC lifted its holdings in shares of PepsiCo by 2.3% in the fourth quarter. Marshall Financial Group LLC now owns 3,128 shares of the company’s stock worth $476,000 after buying an additional 70 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. TD Cowen reduced their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, Citigroup lowered their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $172.35.

PepsiCo Stock Down 2.5 %

Shares of PEP stock opened at $152.33 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The stock has a 50 day moving average of $148.90 and a 200 day moving average of $160.46. The stock has a market cap of $208.92 billion, a P/E ratio of 21.92, a P/E/G ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its 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. The firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 EPS. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.56%. PepsiCo’s payout ratio is 77.99%.

About PepsiCo

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.