Cibc World Market Inc. Reduces Holdings in PepsiCo, Inc. $PEP

Key Points

• Cibc World Market Inc. reduced its PepsiCo stake by 1.6% in the fourth quarter, selling 12,430 shares and leaving it with 747,160 shares valued at about $107.2 million.
• PepsiCo reported better-than-expected quarterly results, posting EPS of $1.61 versus estimates of $1.55 and revenue of $19.44 billion, which was above forecasts and up 8.5% year over year.
• The company also raised its quarterly dividend to $1.48 per share from $1.42, implying an annualized payout of $5.92 and a yield of about 4.2%.

Cibc World Market Inc. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 747,160 shares of the company's stock after selling 12,430 shares during the quarter. Cibc World Market Inc. owned 0.05% of PepsiCo worth $107,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Cypress Capital Management LLC WY boosted its holdings in PepsiCo by 8.3% during the 4th quarter. Cypress Capital Management LLC WY now owns 838 shares of the company's stock valued at $121,000 after acquiring an additional 64 shares during the period. United Bank lifted its holdings in PepsiCo by 3.9% in the 4th quarter. United Bank now owns 1,717 shares of the company's stock worth $246,000 after buying an additional 65 shares during the period. Koa Wealth Management LLC lifted its holdings in PepsiCo by 0.9% in the 4th quarter. Koa Wealth Management LLC now owns 8,007 shares of the company's stock worth $1,149,000 after buying an additional 68 shares during the period. Westside Investment Management Inc. lifted its holdings in PepsiCo by 2.8% in the 3rd quarter. Westside Investment Management Inc. now owns 2,602 shares of the company's stock worth $366,000 after buying an additional 70 shares during the period. Finally, Tiemann Investment Advisors LLC lifted its holdings in PepsiCo by 4.0% in the 3rd quarter. Tiemann Investment Advisors LLC now owns 1,807 shares of the company's stock worth $254,000 after buying an additional 70 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.4%

PEP stock opened at $142.54 on Thursday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. The firm has a market cap of $194.82 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 2.57 and a beta of 0.35. The business has a 50 day moving average of $152.57 and a 200 day moving average of $152.61.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion during the quarter, compared to analyst estimates of $18.89 billion. During the same quarter last year, the company earned $1.48 EPS. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts forecast that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.48 per share. This is a boost from PepsiCo's previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a yield of 4.2%. PepsiCo's dividend payout ratio is 89.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on PepsiCo from $172.00 to $178.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Evercore increased their price objective on PepsiCo from $165.00 to $170.00 in a report on Friday, April 17th. Piper Sandler increased their price objective on PepsiCo from $172.00 to $181.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Wells Fargo & Company dropped their price objective on PepsiCo from $165.00 to $160.00 and set an "equal weight" rating for the company in a report on Monday, May 18th. Finally, Morgan Stanley increased their price objective on PepsiCo from $165.00 to $180.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 4th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $170.11.

Trending Headlines about PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo launched new products aimed at premium and growth categories, including the Adrenaline Rush energy drink and PopCorners Protein, which could help support volume and mix improvement. PepsiCo launches energy drink Adrenaline Rush, eyes mass-premium segment
• Positive Sentiment: The company’s affordability and modernization messaging suggests it is adapting to weaker consumer spending by offering more value-oriented products and packaging, which may help protect market share. How PepsiCo Is Achieving Affordability
• Positive Sentiment: Recent commentary highlighted PepsiCo’s dividend appeal and ongoing health-focused product push, which supports the stock’s defensive-income profile for investors. PepsiCo (PEP) Valuation Check After Earnings Beat Dividend Hike And Health Focused Product Push

PepsiCo Profile

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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