Allspring Global Investments Holdings LLC Sells 2,429 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,842 shares of the company's stock after selling 2,429 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in PepsiCo were worth $30,060,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC bought a new stake in PepsiCo during the 4th quarter worth approximately $28,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at $30,000. Measured Risk Portfolios Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at $31,000. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 4th quarter valued at $33,000. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at $38,000. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of analyst reports. Bank of America reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. Morgan Stanley reduced their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their price target on shares of PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Finally, UBS Group reduced their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $159.75.

PepsiCo Stock Up 2.4%

Shares of PEP traded up $3.22 during trading hours on Tuesday, reaching $135.26. 12,843,472 shares of the stock traded hands, compared to its average volume of 7,011,312. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The stock has a fifty day simple moving average of $131.64 and a 200 day simple moving average of $142.63. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The company has a market cap of $185.45 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 3.77 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were given a $1.4225 dividend. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.21%. PepsiCo's payout ratio is currently 83.68%.

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.