Keybank National Association OH Has $144.44 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Keybank National Association OH reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 949,892 shares of the company’s stock after selling 31,263 shares during the quarter. Keybank National Association OH’s holdings in PepsiCo were worth $144,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. Swedbank AB raised its position in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares in the last quarter. Howard Capital Management Group LLC boosted its stake in shares of PepsiCo by 2.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after purchasing an additional 90 shares during the last quarter. Clear Creek Financial Management LLC boosted its stake in PepsiCo by 4.5% during the third quarter. Clear Creek Financial Management LLC now owns 3,700 shares of the company’s stock worth $629,000 after acquiring an additional 161 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of PepsiCo by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 19,119 shares of the company’s stock valued at $3,251,000 after purchasing an additional 92 shares during the last quarter. Finally, Lansing Street Advisors raised its holdings in shares of PepsiCo by 6.7% in the third quarter. Lansing Street Advisors now owns 1,635 shares of the company’s stock valued at $278,000 after purchasing an additional 103 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PEP shares. HSBC cut their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. TD Cowen lowered their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. Evercore ISI decreased their target price on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Up 1.6 %

PEP opened at $155.99 on Tuesday. The business has a 50 day simple moving average of $148.68 and a 200-day simple moving average of $161.33. The stock has a market capitalization of $213.94 billion, a P/E ratio of 22.44, a P/E/G ratio of 3.09 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the previous year, the business earned $1.78 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

About PepsiCo

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.