Jacobi Capital Management LLC Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Jacobi Capital Management LLC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,347 shares of the company’s stock after selling 378 shares during the period. PepsiCo accounts for 0.6% of Jacobi Capital Management LLC’s holdings, making the stock its 25th biggest position. Jacobi Capital Management LLC’s holdings in PepsiCo were worth $8,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Richard W. Paul & Associates LLC lifted its stake in shares of PepsiCo by 9.5% in the fourth quarter. Richard W. Paul & Associates LLC now owns 4,811 shares of the company’s stock worth $732,000 after buying an additional 418 shares in the last quarter. Metis Global Partners LLC raised its stake in PepsiCo by 2.9% during the fourth quarter. Metis Global Partners LLC now owns 68,296 shares of the company’s stock worth $10,385,000 after purchasing an additional 1,924 shares during the period. Noble Wealth Management PBC purchased a new position in PepsiCo during the fourth quarter worth about $40,000. Fisher Asset Management LLC raised its stake in PepsiCo by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,100,821 shares of the company’s stock worth $1,231,811,000 after purchasing an additional 246,553 shares during the period. Finally, Maripau Wealth Management LLC purchased a new position in PepsiCo during the fourth quarter worth about $245,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on PEP shares. Citigroup reduced their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. TD Cowen reduced their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company reduced 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 note on Wednesday, February 5th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada initiated coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price objective on the stock. One equities research 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 MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Price Performance

Shares of PEP opened at $153.47 on Friday. The firm’s 50 day moving average price is $148.59 and its 200 day moving average price is $161.60. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a market cap of $210.48 billion, a P/E ratio of 22.08, a PEG ratio of 3.09 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $1.78 earnings per share. On average, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.53%. PepsiCo’s dividend payout ratio (DPR) 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.