Forvis Mazars Wealth Advisors LLC Sells 1,625 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Forvis Mazars Wealth Advisors LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 32,069 shares of the company’s stock after selling 1,625 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in PepsiCo were worth $4,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter worth approximately $28,000. Collier Financial bought a new position in shares of PepsiCo during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. lifted its position in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. Finally, Creative Capital Management Investments LLC bought a new position in shares of PepsiCo during the 4th quarter worth approximately $30,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 3.0 %

Shares of PepsiCo stock opened at $153.50 on Friday. 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 12 month low of $141.51 and a 12 month high of $183.41. The business has a fifty day simple moving average of $148.66 and a 200 day simple moving average of $162.18. The stock has a market cap of $210.53 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping 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 business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current 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 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 3.53%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Wall Street Analyst Weigh In

PEP has been the subject of several analyst reports. Royal Bank of Canada initiated coverage on PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 target price for the company. JPMorgan Chase & Co. dropped their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Morgan Stanley dropped their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Barclays dropped their price target on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, BNP Paribas dropped their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $171.47.

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.