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Dearborn Partners LLC Sells 2,445 Shares of PepsiCo, Inc. (NASDAQ:PEP)

PepsiCo logo with Consumer Staples background

Key Points

  • Dearborn Partners LLC reduced its holdings in PepsiCo, Inc. by 3.1%, owning 76,042 shares worth approximately $11.40 million after selling 2,445 shares in the first quarter.
  • PepsiCo's recent earnings report revealed $2.12 earnings per share and revenue of $22.73 billion, exceeding analysts' estimates, while the company announced a quarterly dividend of $1.4225.
  • Analysts have set a consensus rating of "Hold" for PepsiCo with an average price target of $158.73, with varying opinions on the stock's performance in recent reports.
  • MarketBeat previews top five stocks to own in August.
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Dearborn Partners LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,042 shares of the company's stock after selling 2,445 shares during the quarter. Dearborn Partners LLC's holdings in PepsiCo were worth $11,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after acquiring an additional 4,564,723 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after purchasing an additional 1,809,391 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in PepsiCo in the 4th quarter worth about $221,297,000. Northern Trust Corp grew its holdings in PepsiCo by 8.7% during the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after buying an additional 1,306,818 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of PepsiCo by 292.9% in the fourth quarter. APG Asset Management N.V. now owns 1,559,081 shares of the company's stock worth $228,946,000 after buying an additional 1,162,315 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEP has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Royal Bank Of Canada reiterated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a research report on Tuesday, June 24th. Citigroup increased their price target on shares of PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Evercore ISI set a $140.00 price target on PepsiCo in a research report on Thursday, April 24th. Finally, Wells Fargo & Company raised their price objective on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $158.73.

View Our Latest Stock Report on PepsiCo

PepsiCo Trading Down 0.7%

PepsiCo stock traded down $1.03 during trading hours on Wednesday, reaching $142.86. The stock had a trading volume of 9,730,855 shares, compared to its average volume of 8,992,737. The company has a fifty day simple moving average of $134.27 and a 200-day simple moving average of $140.98. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The stock has a market cap of $195.59 billion, a PE ratio of 26.02, a PEG ratio of 3.83 and a beta of 0.45. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. PepsiCo's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.28 EPS. Analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Friday, September 5th. PepsiCo's payout ratio is currently 103.64%.

PepsiCo Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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