Mizuho Markets Americas LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Mizuho Markets Americas LLC significantly reduced its stake in PepsiCo, Inc. by 84.6%, owning 8,891 shares worth approximately $1.33 million after selling 48,896 shares during Q1.
• Despite Mizuho's sale, several other institutional investors increased their holdings in PepsiCo, indicating continued interest, with institutional ownership reaching 73.07% of the company's stock.
• PepsiCo announced a quarterly dividend of $1.4225 per share, reflecting a 3.9% dividend yield and a payout ratio of 103.64%, which is notable given the firm's recent profitability reports.

Mizuho Markets Americas LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 84.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,891 shares of the company's stock after selling 48,896 shares during the period. Mizuho Markets Americas LLC's holdings in PepsiCo were worth $1,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Legacy Financial Group LLC grew its position in shares of PepsiCo by 4.9% in the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock worth $227,000 after buying an additional 71 shares during the last quarter. Pflug Koory LLC boosted its holdings in PepsiCo by 1.0% in the first quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock valued at $1,162,000 after acquiring an additional 76 shares in the last quarter. Hoge Financial Services LLC increased its position in PepsiCo by 2.1% during the 1st quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock valued at $545,000 after purchasing an additional 76 shares during the period. Members Trust Co raised its holdings in PepsiCo by 1.3% in the 1st quarter. Members Trust Co now owns 5,941 shares of the company's stock worth $891,000 after purchasing an additional 77 shares in the last quarter. Finally, Fairview Capital Investment Management LLC lifted its position in shares of PepsiCo by 2.3% in the 4th quarter. Fairview Capital Investment Management LLC now owns 3,526 shares of the company's stock worth $536,000 after purchasing an additional 78 shares during the period. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $145.21 on Friday. The stock has a market cap of $198.80 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 3.87 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, Inc. has a 1 year low of $127.60 and a 1 year high of $179.73. The firm's 50-day moving average is $135.71 and its 200 day moving average is $140.65.

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

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio is presently 103.64%.

Analyst Ratings Changes

Several brokerages recently issued reports on PEP. UBS Group reduced their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday, April 24th. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Morgan Stanley upped their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. decreased their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. 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. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $158.73.

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.

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