Beese Fulmer Investment Management Inc. Decreases Position in PepsiCo, Inc. (NASDAQ:PEP)

Beese Fulmer Investment Management Inc. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,834 shares of the company’s stock after selling 1,260 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in PepsiCo were worth $10,163,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. AMF Tjanstepension AB lifted its position in shares of PepsiCo by 15.8% during the third quarter. AMF Tjanstepension AB now owns 293,824 shares of the company’s stock worth $50,016,000 after purchasing an additional 40,031 shares during the last quarter. Strategic Wealth Partners Ltd. increased its holdings in PepsiCo by 10.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 3,836 shares of the company’s stock valued at $652,000 after purchasing an additional 374 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of PepsiCo by 113.7% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 5,044 shares of the company’s stock valued at $858,000 after acquiring an additional 2,684 shares in the last quarter. CWM LLC boosted its stake in PepsiCo by 7.2% during the 3rd quarter. CWM LLC now owns 236,744 shares of the company’s stock valued at $40,258,000 after acquiring an additional 15,888 shares during the last quarter. Finally, Marcum Wealth LLC lifted its stake in PepsiCo by 2.1% during the third quarter. Marcum Wealth LLC now owns 9,086 shares of the company’s stock worth $1,545,000 after purchasing an additional 189 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. HSBC dropped their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday. TD Cowen lowered their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley decreased their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday. Citigroup decreased their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Evercore ISI lowered their price target on PepsiCo from $180.00 to $160.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $145.35 on Friday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The business has a fifty day moving average price of $152.15 and a two-hundred day moving average price of $164.39. 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 capitalization of $199.42 billion, a PE ratio of 21.44, a P/E/G ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the business posted $1.78 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.73%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.