Brevan Howard Capital Management LP Trims Stake in PepsiCo, Inc. $PEP

Brevan Howard Capital Management LP lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 59.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,670 shares of the company’s stock after selling 109,307 shares during the period. Brevan Howard Capital Management LP’s holdings in PepsiCo were worth $10,627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PEP. Evolution Wealth Management Inc. purchased a new stake in PepsiCo in the second quarter valued at approximately $27,000. JCIC Asset Management Inc. purchased a new position in PepsiCo in the 3rd quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the last quarter. Imprint Wealth LLC purchased a new stake in shares of PepsiCo during the 3rd quarter valued at $31,000. Finally, Halbert Hargrove Global Advisors LLC lifted its holdings in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after acquiring an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $159.88 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. The firm has a market cap of $218.50 billion, a P/E ratio of 26.65, a P/E/G ratio of 3.07 and a beta of 0.39. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48. The firm has a 50-day moving average of $156.71 and a 200-day moving average of $149.69.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Monday, February 2nd. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The business had revenue of $29.34 billion during the quarter, compared to analyst estimates of $28.96 billion. During the same quarter in the prior year, the company posted $1.96 EPS. PepsiCo’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo declared that its board has authorized a share repurchase program on Tuesday, February 3rd that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, March 6th. PepsiCo’s payout ratio is presently 94.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEP. BNP Paribas Exane restated an “outperform” rating on shares of PepsiCo in a report on Wednesday, February 4th. Citigroup lifted their target price on shares of PepsiCo from $170.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Jefferies Financial Group upped their price target on shares of PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. Piper Sandler lifted their price objective on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Barclays increased their target price on PepsiCo from $148.00 to $160.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $169.00.

PepsiCo 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.