Douglas Lane & Associates LLC Has $33.59 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Douglas Lane & Associates LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 220,922 shares of the company’s stock after purchasing an additional 20,016 shares during the quarter. Douglas Lane & Associates LLC’s holdings in PepsiCo were worth $33,593,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after buying an additional 3,201,676 shares during the last quarter. State Street Corp boosted its position in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. raised its stake in PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the period. Swedbank AB increased its holdings in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 0.2 %

NASDAQ PEP traded up $0.35 during trading hours on Wednesday, reaching $145.75. The company’s stock had a trading volume of 2,987,922 shares, compared to its average volume of 5,996,177. PepsiCo, Inc. has a 52 week low of $144.56 and a 52 week high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock has a market cap of $199.97 billion, a P/E ratio of 21.50, a P/E/G ratio of 2.94 and a beta of 0.54. The firm has a fifty day simple moving average of $158.60 and a 200-day simple moving average of $166.97.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.25 EPS. Equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen reduced their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday. Bank of America lowered their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Wells Fargo & Company lowered their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday. They issued an “overweight” rating and a $171.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and an average price target of $180.64.

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.