Covenant Asset Management LLC Has $539,000 Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Covenant Asset Management LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,543 shares of the company’s stock after selling 200 shares during the quarter. Covenant Asset Management LLC’s holdings in PepsiCo were worth $539,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after purchasing an additional 870,451 shares in the last quarter. Janus Henderson Group PLC increased its holdings in PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its holdings in PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC increased its holdings in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after acquiring an additional 5,220 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PEP has been the subject of several recent research reports. BNP Paribas decreased their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Morgan Stanley decreased their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. CICC Research restated a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Finally, UBS Group decreased their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Down 0.8 %

Shares of NASDAQ PEP opened at $143.39 on Friday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70. The business’s fifty day moving average price is $150.09 and its 200-day moving average price is $163.41. The stock has a market capitalization of $196.66 billion, a PE ratio of 20.63, a P/E/G ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.78%. PepsiCo’s dividend payout ratio is presently 77.99%.

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.