State of Wisconsin Investment Board Sells 16,108 Shares of PepsiCo, Inc. $PEP

State of Wisconsin Investment Board trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 715,924 shares of the company’s stock after selling 16,108 shares during the period. State of Wisconsin Investment Board’s holdings in PepsiCo were worth $102,749,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss RE Ltd. bought a new stake in shares of PepsiCo during the fourth quarter worth approximately $28,000. MH & Associates Securities Management Corp ADV bought a new stake in shares of PepsiCo during the fourth quarter worth approximately $29,000. Imprint Wealth LLC bought a new stake in shares of PepsiCo during the third quarter worth approximately $31,000. Strategic Advocates LLC bought a new stake in shares of PepsiCo during the third quarter worth approximately $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of PepsiCo during the fourth quarter worth approximately $33,000. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BNP Paribas Exane boosted their price objective on shares of PepsiCo from $191.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Wells Fargo & Company decreased their price objective on shares of PepsiCo from $160.00 to $150.00 and set an “equal weight” rating for the company in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PepsiCo from $169.00 to $173.00 and gave the company a “buy” rating in a report on Friday, April 17th. Barclays boosted their price objective on shares of PepsiCo from $154.00 to $158.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Finally, Piper Sandler decreased their price objective on shares of PepsiCo from $181.00 to $178.00 and set an “overweight” rating for the company in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $167.35.

PepsiCo Stock Down 0.1%

Shares of NASDAQ PEP opened at $146.12 on Wednesday. The stock has a market cap of $199.71 billion, a P/E ratio of 22.94, a P/E/G ratio of 2.65 and a beta of 0.35. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $171.48. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. The firm has a 50 day moving average price of $150.68 and a 200 day moving average price of $152.40.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.06. The company had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.48 earnings per share. 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. Stockholders of record on Friday, June 5th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 4.1%. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. PepsiCo’s dividend payout ratio is currently 92.94%.

Key Headlines Impacting PepsiCo

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

About PepsiCo

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.