PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by GraniteShares Advisors LLC

Posted by on Jul 9th, 2023

GraniteShares Advisors LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,066 shares of the company’s stock after selling 185 shares during the quarter. GraniteShares Advisors LLC’s holdings in PepsiCo were worth $741,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PEP. Moneta Group Investment Advisors LLC grew its holdings in shares of PepsiCo by 95,514.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock worth $7,746,023,000 after buying an additional 42,831,405 shares during the last quarter. Morgan Stanley increased its position in PepsiCo by 21.0% in the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock valued at $4,827,240,000 after acquiring an additional 4,629,947 shares during the period. Geode Capital Management LLC increased its position in PepsiCo by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 25,637,180 shares of the company’s stock valued at $4,622,579,000 after acquiring an additional 267,641 shares during the period. Charles Schwab Investment Management Inc. increased its position in PepsiCo by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,008,172 shares of the company’s stock valued at $3,072,696,000 after acquiring an additional 1,175,427 shares during the period. Finally, Norges Bank acquired a new position in PepsiCo in the 4th quarter valued at about $2,519,707,000. Hedge funds and other institutional investors own 75.46% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $183.08 on Friday. PepsiCo, Inc. has a 12 month low of $160.98 and a 12 month high of $196.88. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.87 and a quick ratio of 0.65. The business’s 50 day simple moving average is $186.58 and its 200-day simple moving average is $181.89. The firm has a market capitalization of $252.23 billion, a price-to-earnings ratio of 38.54, a price-to-earnings-growth ratio of 3.20 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Free Report) last posted its earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The firm had revenue of $17.85 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same quarter in the prior year, the company earned $1.29 EPS. PepsiCo’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that PepsiCo, Inc. will post 7.29 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 2nd were paid a $1.265 dividend. The ex-dividend date was Thursday, June 1st. This represents a $5.06 dividend on an annualized basis and a yield of 2.76%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s dividend payout ratio is presently 106.53%.

Analyst Ratings Changes

Several brokerages recently issued reports on PEP. JPMorgan Chase & Co. boosted their price target on PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. UBS Group boosted their target price on PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Royal Bank of Canada boosted their target price on PepsiCo from $175.00 to $178.00 in a research report on Wednesday, April 26th. Barclays boosted their target price on PepsiCo from $201.00 to $206.00 in a research report on Thursday, April 27th. Finally, StockNews.com initiated coverage on PepsiCo in a research report on Thursday, May 18th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $190.25.

PepsiCo Company Profile

(Free Report)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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