Adage Capital Partners GP L.L.C. Cuts Stake in PepsiCo, Inc. $PEP

Adage Capital Partners GP L.L.C. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,210,779 shares of the company’s stock after selling 24,900 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.09% of PepsiCo worth $159,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nova Wealth Management Inc. bought a new position in shares of PepsiCo during the first quarter worth $25,000. Legend Financial Advisors Inc. purchased a new stake in PepsiCo in the 2nd quarter worth $29,000. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after purchasing an additional 121 shares during the last quarter. Frazier Financial Advisors LLC grew its position in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. Finally, Howard Hughes Medical Institute bought a new stake in shares of PepsiCo in the second quarter worth about $39,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 1.1%

Shares of NASDAQ:PEP opened at $150.65 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The business has a 50 day simple moving average of $147.30 and a two-hundred day simple moving average of $142.22. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The firm has a market capitalization of $205.99 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 5.14 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $2.31 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

Analyst Ratings Changes

Several equities analysts have weighed in on PEP shares. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Piper Sandler increased their target price on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup reduced their price target on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. BNP Paribas Exane decreased their price target on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Finally, UBS Group reissued a “buy” rating and issued a $172.00 price objective on shares of PepsiCo in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $158.35.

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.