PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,527 shares of the company’s stock after selling 1,428 shares during the period. ProVise Management Group LLC’s holdings in PepsiCo were worth $3,273,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Collier Financial acquired a new position in PepsiCo in the fourth quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the third quarter worth about $31,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo in the fourth quarter worth about $30,000. Bay Harbor Wealth Management LLC acquired a new position in PepsiCo in the fourth quarter valued at approximately $34,000. Finally, Human Investing LLC acquired a new position in PepsiCo in the fourth quarter valued at approximately $39,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. BNP Paribas decreased their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. UBS Group dropped their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Evercore ISI dropped their price target on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Finally, Barclays cut PepsiCo from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $168.00 to $156.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, PepsiCo has an average rating of “Hold” and a consensus price target of $169.88.

PepsiCo Trading Down 1.6 %

PepsiCo stock opened at $148.99 on Wednesday. The company’s fifty day simple moving average is $148.94 and its 200-day simple moving average is $159.58. 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 stock has a market cap of $204.34 billion, a P/E ratio of 21.44, a P/E/G ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the previous year, the company posted $1.78 EPS. PepsiCo’s revenue was down .2% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm 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 dividend yield of 3.64%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is presently 77.99%.

PepsiCo Company 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.