Elk River Wealth Management LLC Sells 559 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Elk River Wealth Management LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,074 shares of the company’s stock after selling 559 shares during the quarter. Elk River Wealth Management LLC’s holdings in PepsiCo were worth $3,847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB increased its stake in shares of PepsiCo by 15.8% during the 3rd 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. Swedbank AB grew its stake in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares during the last quarter. Howard Capital Management Group LLC grew its stake in PepsiCo by 2.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after buying an additional 90 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in PepsiCo by 3.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,970 shares of the company’s stock valued at $35,365,000 after buying an additional 6,334 shares during the last quarter. Finally, Copeland Capital Management LLC acquired a new position in PepsiCo in the 3rd quarter valued at about $85,000. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PEP shares. HSBC decreased 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, February 4th. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Evercore ISI decreased their price target on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Finally, Wells Fargo & Company decreased their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $145.81 on Thursday. The company has a market cap of $199.98 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The company has a 50 day moving average of $149.16 and a 200-day moving average of $162.60. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

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

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is 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.