NorthCrest Asset Manangement LLC Has $19.18 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

NorthCrest Asset Manangement LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 126,141 shares of the company’s stock after selling 110 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in PepsiCo were worth $19,181,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PEP. State Street Corp lifted its stake in shares of 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 buying an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC lifted its position in PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Legal & General Group Plc increased its stake in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the period. Finally, Franklin Resources Inc. lifted 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. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PEP shares. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler initiated coverage on shares of PepsiCo in a research note on Tuesday. They issued an “overweight” rating and a $171.00 price objective for the company. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $180.64.

PepsiCo Trading Down 3.1 %

Shares of PepsiCo stock traded down $4.55 during trading on Friday, hitting $141.99. The company’s stock had a trading volume of 2,983,045 shares, compared to its average volume of 6,092,107. The stock has a market cap of $194.81 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 52 week low of $141.97 and a 52 week high of $183.41. The stock has a 50-day moving average price of $157.81 and a two-hundred day moving average price of $166.68.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the company earned $2.25 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

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.