&PARTNERS Grows Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• &PARTNERS increased its PepsiCo stake by 7.4% in the fourth quarter, buying 30,232 additional shares and lifting its holding to 437,511 shares worth about $62.8 million.
• PepsiCo reported stronger-than-expected quarterly results, posting EPS of $1.61 versus estimates of $1.55 and revenue of $19.44 billion versus $18.89 billion expected. Revenue rose 8.5% year over year.
• The company raised its quarterly dividend to $1.48 per share, bringing the annualized payout to $5.92 and the yield to 4.1%. This marks another increase in PepsiCo’s long dividend growth streak.

&PARTNERS increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 437,511 shares of the company's stock after buying an additional 30,232 shares during the period. &PARTNERS's holdings in PepsiCo were worth $62,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in PepsiCo by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company's stock worth $19,875,205,000 after buying an additional 1,612,652 shares in the last quarter. State Street Corp boosted its holdings in PepsiCo by 1.8% during the third quarter. State Street Corp now owns 59,499,819 shares of the company's stock worth $8,356,155,000 after buying an additional 1,079,970 shares in the last quarter. Geode Capital Management LLC raised its position in PepsiCo by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company's stock worth $4,814,835,000 after acquiring an additional 360,936 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in PepsiCo by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,090,426 shares of the company's stock worth $4,031,646,000 after acquiring an additional 295,955 shares during the last quarter. Finally, Norges Bank acquired a new position in PepsiCo during the fourth quarter worth about $3,018,813,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

NASDAQ:PEP opened at $146.12 on Wednesday. The firm has a 50 day simple moving average of $150.68 and a 200-day simple moving average of $152.40. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The firm has a market cap of $199.71 billion, a PE ratio of 22.94, a P/E/G ratio of 2.65 and a beta of 0.35. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48.

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. The business had revenue of $19.44 billion during the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company's revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 earnings per share. On average, equities analysts expect that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared 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 represents a $5.92 annualized dividend and a yield of 4.1%. This is a positive change from PepsiCo's previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, June 5th. PepsiCo's dividend payout ratio (DPR) is currently 92.94%.

Key PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced its 54th consecutive annual dividend increase, reinforcing its appeal as a defensive, income-generating stock at a time when Treasury yields are elevated. PepsiCo’s 3.9% Yield Is a Safe-Haven Masterclass
• Positive Sentiment: PepsiCo debuted a new limited-edition soda, which could help drive short-term consumer interest and support beverage sales. PepsiCo just debuted a new limited-edition soda that's guaranteed to sell out
• Positive Sentiment: PepsiCo continues to highlight future growth initiatives, including experiential drinks and regenerative farming partnerships, which suggest management is still investing in new revenue streams. PepsiCo Targets Experiential Drinks And Regenerative Farming For Future Growth
• Neutral Sentiment: PepsiCo senior director Maneesha Khanna stepped down after 13 years; this looks like a personnel change rather than a material business event. PepsiCo Senior Director Maneesha Khanna steps down after 13 years
• Neutral Sentiment: PepsiCo was mentioned in articles about broader S&P 500 ideas and sustainability events, but those items do not appear to change the company’s near-term fundamentals. Sustainability LIVE Announces Final Week to Register for The Leadership Summit
• Negative Sentiment: Piper Sandler lowered its price target on PepsiCo, which can weigh on sentiment by signaling a more cautious outlook for the stock’s upside. PepsiCo (PEP) Price Target Lowered at Piper Sandler. Here is Why

Analyst Ratings Changes

PEP has been the subject of a number of research reports. UBS Group cut their target price on shares of PepsiCo from $190.00 to $186.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. Piper Sandler cut their target price on shares of PepsiCo from $181.00 to $178.00 and set an "overweight" rating for the company in a research report on Friday. Evercore lifted their target price on shares of PepsiCo from $165.00 to $170.00 in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PepsiCo from $169.00 to $173.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Finally, BNP Paribas Exane lifted their target price on shares of PepsiCo from $191.00 to $195.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of "Hold" and a consensus target price of $167.35.

PepsiCo Company 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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