Parallel Advisors LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Parallel Advisors LLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,752 shares of the company’s stock after selling 4,387 shares during the quarter. Parallel Advisors LLC’s holdings in PepsiCo were worth $5,589,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Collier Financial bought a new position in PepsiCo during the fourth quarter valued at approximately $28,000. Creative Capital Management Investments LLC bought a new stake in shares of PepsiCo in the 4th quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC bought a new stake in shares of PepsiCo in the 4th quarter valued at approximately $34,000. Finally, Human Investing LLC bought a new stake in shares of PepsiCo in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price target on the stock. Morgan Stanley reduced their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. BNP Paribas reduced their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Citigroup reduced their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $170.59.

PepsiCo Trading Up 1.9 %

PEP opened at $151.34 on Tuesday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The stock has a market capitalization of $207.56 billion, a PE ratio of 21.78, a P/E/G ratio of 3.09 and a beta of 0.52. The business’s 50 day moving average price is $148.86 and its 200 day moving average price is $159.75. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. 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 firm earned $1.78 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

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.