ING Groep NV Sells 1,605,953 Shares of PepsiCo, Inc. $PEP

ING Groep NV lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 72.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 625,349 shares of the company’s stock after selling 1,605,953 shares during the period. ING Groep NV’s holdings in PepsiCo were worth $89,750,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of PEP. MH & Associates Securities Management Corp ADV bought a new stake in PepsiCo during the fourth quarter worth about $29,000. Imprint Wealth LLC bought a new stake in PepsiCo during the third quarter worth about $31,000. Strategic Advocates LLC bought a new stake in PepsiCo during the third quarter worth about $33,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in PepsiCo during the fourth quarter worth about $33,000. Finally, Evolution Wealth Management Inc. raised its holdings in PepsiCo by 47.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 232 shares of the company’s stock worth $33,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $141.92 on Friday. The business’s 50 day moving average price is $152.21 and its two-hundred day moving average price is $152.51. The company has a market cap of $193.97 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.57 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.

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

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a $1.48 dividend. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. PepsiCo’s dividend payout ratio (DPR) is currently 89.32%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PEP shares. Wall Street Zen lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Piper Sandler upped their target price on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. TD Cowen upped their target price on PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Royal Bank Of Canada dropped their target price on PepsiCo from $165.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, April 9th. Finally, BNP Paribas Exane boosted their price target on PepsiCo from $191.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $169.58.

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.