Tortoise Investment Management LLC Has $655,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Tortoise Investment Management LLC lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,307 shares of the company’s stock after selling 260 shares during the quarter. Tortoise Investment Management LLC’s holdings in PepsiCo were worth $655,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Collier Financial bought a new position in shares of PepsiCo during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the 3rd quarter valued at $31,000. Rakuten Securities Inc. raised its position in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. Creative Capital Management Investments LLC bought a new position in PepsiCo in the 4th quarter valued at $30,000. Finally, Bay Harbor Wealth Management LLC bought a new position in PepsiCo in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.1 %

Shares of PepsiCo stock opened at $154.44 on Monday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The business has a 50-day moving average of $148.80 and a two-hundred day moving average of $160.76. The company has a market capitalization of $211.81 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $1.78 earnings per share. As a group, equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business 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. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.51%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company cut their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, Piper Sandler began coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. One 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. Based on data from MarketBeat.com, the company presently 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.