Miramar Capital LLC Has $17.59 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Miramar Capital LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 115,670 shares of the company’s stock after selling 2,451 shares during the period. PepsiCo comprises approximately 4.2% of Miramar Capital LLC’s portfolio, making the stock its 6th largest holding. Miramar Capital LLC’s holdings in PepsiCo were worth $17,589,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of PepsiCo by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after acquiring an additional 689,383 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Down 0.1 %

NASDAQ:PEP opened at $154.44 on Friday. The company’s 50 day moving average price is $148.80 and its 200-day moving average price is $160.86. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week 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 stock has a market cap of $211.81 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 3.09 and a beta of 0.52.

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

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Analysts Set New Price Targets

Several brokerages have recently commented on PEP. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Morgan Stanley decreased their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Evercore ISI decreased their price target on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Finally, HSBC decreased their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $172.35.

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.