PepsiCo, Inc. $PEP Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 999,620 shares of the company’s stock after selling 81,933 shares during the quarter. Korea Investment CORP owned 0.07% of PepsiCo worth $131,990,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PEP. Nova Wealth Management Inc. acquired a new stake in PepsiCo in the first quarter valued at approximately $25,000. Legend Financial Advisors Inc. purchased a new stake in PepsiCo in the 2nd quarter worth $29,000. Vermillion & White Wealth Management Group LLC raised its position in PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after acquiring an additional 121 shares during the period. Frazier Financial Advisors LLC lifted its holdings in PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. Finally, RMG Wealth Management LLC purchased a new stake in shares of PepsiCo during the second quarter worth about $45,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PEP. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $157.00 to $151.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Jefferies Financial Group boosted their price target on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Piper Sandler decreased their price objective on PepsiCo from $162.00 to $161.00 and set an “overweight” rating on the stock in a report on Friday, November 21st. Loop Capital set a $164.00 price target on shares of PepsiCo in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company raised their target price on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.90.

PepsiCo Stock Up 1.3%

PEP stock opened at $147.98 on Thursday. The firm has a market cap of $202.34 billion, a PE ratio of 28.13, a PEG ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $165.13. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The firm’s 50 day moving average price is $145.72 and its 200-day moving average price is $140.85.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, December 5th. PepsiCo’s dividend payout ratio is 108.17%.

PepsiCo Profile

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.