Loomis Sayles & Co. L P Sells 353 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Loomis Sayles & Co. L P cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,612 shares of the company’s stock after selling 353 shares during the period. Loomis Sayles & Co. L P’s holdings in PepsiCo were worth $245,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Collier Financial bought a new position in PepsiCo in the 4th quarter valued at $28,000. Creative Capital Management Investments LLC purchased a new position in shares of PepsiCo in the 4th quarter worth about $30,000. Legacy Investment Solutions LLC bought a new position in PepsiCo during the third quarter valued at about $31,000. Bay Harbor Wealth Management LLC bought a new stake in PepsiCo in the fourth quarter worth about $34,000. Finally, Human Investing LLC purchased a new position in PepsiCo in the fourth quarter valued at about $39,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEP. Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Evercore ISI lowered their target price on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Barclays downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $168.00 to $156.00 in a research note on Tuesday, March 18th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Finally, BNP Paribas cut their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $169.88.

PepsiCo Price Performance

PepsiCo stock opened at $149.27 on Monday. The business has a 50-day simple moving average of $149.25 and a 200 day simple moving average of $157.91. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The stock has a market cap of $204.72 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 3.09 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the prior year, the business earned $1.78 earnings per share. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. On average, 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. Shareholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is currently 77.99%.

PepsiCo 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.