Russell Investments Group Ltd. Has $204.84 Million Stock Holdings in PepsiCo, Inc. $PEP

Russell Investments Group Ltd. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.8% in the fourth quarter, Holdings Channel reports. The firm owned 1,426,931 shares of the company’s stock after selling 154,939 shares during the period. Russell Investments Group Ltd.’s holdings in PepsiCo were worth $204,844,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Swiss RE Ltd. acquired a new position in shares of PepsiCo in the 4th quarter valued at $28,000. MH & Associates Securities Management Corp ADV acquired a new position in shares of PepsiCo in the 4th quarter valued at $29,000. Imprint Wealth LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at $31,000. Strategic Advocates LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $33,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Key Stories 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

Wall Street Analysts Forecast Growth

PEP has been the subject of several research analyst reports. Barclays boosted their price target 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. Wall Street Zen cut PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Royal Bank Of Canada lowered their target price on PepsiCo from $165.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, April 9th. Sanford C. Bernstein began coverage on PepsiCo in a report on Thursday, June 11th. They set a “market perform” rating and a $143.00 target price for the company. Finally, Argus upgraded PepsiCo to a “hold” rating in a report on Tuesday, February 17th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $167.35.

PepsiCo Stock Down 0.1%

PepsiCo stock 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. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The company’s 50-day moving average price is $150.68 and its two-hundred day moving average price is $152.40.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.55 by $0.06. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. During the same period last year, the firm earned $1.48 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts expect that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.48 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, June 5th. PepsiCo’s payout ratio is 92.94%.

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.