Avidian Wealth Enterprises LLC Sells 158 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Avidian Wealth Enterprises LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,673 shares of the company’s stock after selling 158 shares during the period. Avidian Wealth Enterprises LLC’s holdings in PepsiCo were worth $2,687,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AMF Tjanstepension AB raised 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 period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in PepsiCo by 49.7% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,976 shares of the company’s stock valued at $336,000 after acquiring an additional 656 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at approximately $44,000. CX Institutional increased its stake in shares of PepsiCo by 204.1% during the 3rd quarter. CX Institutional now owns 41,184 shares of the company’s stock worth $7,003,000 after purchasing an additional 27,643 shares during the last quarter. Finally, Wesbanco Bank Inc. raised its holdings in shares of PepsiCo by 1.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 152,685 shares of the company’s stock worth $25,964,000 after purchasing an additional 1,877 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PEP. Barclays decreased their target price on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. HSBC decreased their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. Citigroup cut their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Finally, CICC Research reissued a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Price Performance

PEP opened at $145.64 on Wednesday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05. The stock has a 50-day moving average price of $151.05 and a 200-day moving average price of $163.87. The stock has a market capitalization of $199.75 billion, a P/E ratio of 20.96, a PEG ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.72%. PepsiCo’s payout ratio is currently 77.99%.

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.