Franklin Resources Inc. Trims Holdings in PepsiCo, Inc. $PEP

Franklin Resources Inc. decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,129,784 shares of the company’s stock after selling 930,873 shares during the quarter. Franklin Resources Inc.’s holdings in PepsiCo were worth $2,027,906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MH & Associates Securities Management Corp ADV purchased a new stake in PepsiCo in the fourth quarter worth $29,000. Imprint Wealth LLC bought a new position in shares of PepsiCo during the 3rd quarter worth $31,000. Strategic Advocates LLC bought a new position in shares of PepsiCo during the 3rd quarter worth $33,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of PepsiCo during the 4th quarter worth $33,000. Finally, Evolution Wealth Management Inc. grew its position in shares of PepsiCo by 47.8% during the 4th quarter. Evolution Wealth Management Inc. now owns 232 shares of the company’s stock worth $33,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of a number of recent research reports. Barclays increased their price target on PepsiCo from $154.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. The Goldman Sachs Group increased their price target on PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Piper Sandler increased their price target on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. TD Cowen increased their price target on PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Finally, UBS Group dropped their price target on PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $169.58.

PepsiCo Price Performance

Shares of PEP stock opened at $141.92 on Monday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48. The stock’s 50-day moving average is $152.21 and its 200 day moving average is $152.54. The company has a market cap of $193.97 billion, a P/E ratio of 22.28, a PEG ratio of 2.57 and a beta of 0.35. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last issued 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. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion for the quarter, compared to the consensus estimate of $18.89 billion. During the same quarter last year, the company earned $1.48 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, June 5th. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.2%. PepsiCo’s payout ratio is currently 92.94%.

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.