PepsiCo, Inc. (NASDAQ:PEP) Holdings Decreased by Everhart Financial Group Inc.

Everhart Financial Group Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,563 shares of the company’s stock after selling 1,957 shares during the quarter. Everhart Financial Group Inc.’s holdings in PepsiCo were worth $998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PEP. International Assets Investment Management LLC grew its stake in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after purchasing an additional 3,201,676 shares in the last quarter. State Street Corp grew its stake in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. grew its stake in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. Swedbank AB grew its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in PepsiCo by 360.0% in the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock valued at $258,158,000 after purchasing an additional 1,328,672 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PEP. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Royal Bank of Canada started coverage on PepsiCo in a research report on Tuesday, February 4th. They issued a $172.00 price target for the company. Wells Fargo & Company reduced their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Barclays reduced their price target on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Trading Down 0.8 %

Shares of PEP opened at $143.39 on Friday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $196.66 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 2.89 and a beta of 0.54. The stock’s 50-day moving average price is $149.80 and its 200 day moving average price is $163.20.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $27.89 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.78%. PepsiCo’s dividend payout ratio is currently 77.99%.

PepsiCo Profile

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.