Perennial Investment Advisors LLC Sells 392 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Perennial Investment Advisors LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,747 shares of the company’s stock after selling 392 shares during the quarter. Perennial Investment Advisors LLC’s holdings in PepsiCo were worth $1,482,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PEP. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of PepsiCo by 21.6% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 10,038 shares of the company’s stock valued at $1,526,000 after purchasing an additional 1,781 shares in the last quarter. Aviva PLC lifted its stake in PepsiCo by 6.4% in the fourth quarter. Aviva PLC now owns 1,677,906 shares of the company’s stock valued at $255,142,000 after buying an additional 100,410 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of PepsiCo during the fourth quarter worth $75,235,000. AllGen Financial Advisors Inc. raised its holdings in shares of PepsiCo by 2.3% during the fourth quarter. AllGen Financial Advisors Inc. now owns 20,649 shares of the company’s stock worth $3,140,000 after acquiring an additional 457 shares during the period. Finally, Prudential PLC lifted its position in PepsiCo by 333.6% in the 4th quarter. Prudential PLC now owns 14,408 shares of the company’s stock valued at $2,191,000 after acquiring an additional 11,085 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 3.1 %

Shares of PEP opened at $146.61 on Friday. The firm’s 50-day simple moving average is $149.33 and its 200 day simple moving average is $157.21. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm has a market cap of $201.05 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results 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 return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period last year, the firm posted $1.78 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Friday, March 7th. PepsiCo’s dividend payout ratio is 77.99%.

Analyst Ratings Changes

Several research firms have issued reports on PEP. Piper Sandler began coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada assumed coverage on shares of PepsiCo in a report on Tuesday, February 4th. They set a $172.00 target price for the company. Finally, StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $169.88.

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.