Sanders Capital LLC Sells 158,430 Shares of PepsiCo, Inc. $PEP

Sanders Capital LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,844,312 shares of the company’s stock after selling 158,430 shares during the quarter. Sanders Capital LLC owned 0.35% of PepsiCo worth $680,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PEP. Texas Capital Bank Wealth Management Services Inc increased its stake in PepsiCo by 77.4% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 8,801 shares of the company’s stock valued at $1,236,000 after purchasing an additional 3,841 shares in the last quarter. United Financial Planning Group LLC purchased a new position in PepsiCo in the 3rd quarter worth approximately $50,000. Zuckerman Investment Group LLC lifted its position in PepsiCo by 2.9% in the 3rd quarter. Zuckerman Investment Group LLC now owns 19,855 shares of the company’s stock valued at $2,788,000 after acquiring an additional 567 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in PepsiCo by 107.1% during the 3rd quarter. Temasek Holdings Private Ltd now owns 557,426 shares of the company’s stock valued at $78,285,000 after purchasing an additional 288,245 shares during the last quarter. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. raised its stake in shares of PepsiCo by 1.2% in the third quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 18,839 shares of the company’s stock worth $2,646,000 after purchasing an additional 231 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PEP shares. Wall Street Zen upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Morgan Stanley boosted their price objective on shares of PepsiCo from $165.00 to $180.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Piper Sandler boosted their target price on shares of PepsiCo from $172.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday. Jefferies Financial Group raised their price target on PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Finally, HSBC increased their target price on PepsiCo from $152.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $169.00.

PepsiCo Price Performance

NASDAQ PEP opened at $159.88 on Friday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.67 and a current ratio of 0.85. The business’s fifty day moving average is $156.71 and its 200 day moving average is $149.68. The company has a market capitalization of $218.50 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Monday, February 2nd. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. The firm had revenue of $29.34 billion for the quarter, compared to the consensus estimate of $28.96 billion. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 earnings per share. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, March 6th. PepsiCo’s dividend payout ratio is presently 94.83%.

PepsiCo announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 3rd that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.