Pinnacle Wealth Management Advisory Group LLC Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

Pinnacle Wealth Management Advisory Group LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 8.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 25,050 shares of the company’s stock after selling 2,448 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in PepsiCo were worth $3,809,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new position in PepsiCo during the third quarter worth about $28,000. Collier Financial purchased a new position in PepsiCo during the fourth quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the third quarter worth about $31,000. Rakuten Securities Inc. raised its holdings in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC purchased a new position in PepsiCo during the fourth quarter worth about $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.8 %

Shares of NASDAQ PEP opened at $143.39 on Friday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm’s 50 day moving average price is $149.80 and its 200 day moving average price is $163.20. The firm has a market cap of $196.66 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the business earned $1.78 earnings per share. PepsiCo’s revenue was down .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.34 earnings per share for the current 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 given 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 yield of 3.78%. PepsiCo’s dividend payout ratio (DPR) is currently 77.99%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PEP. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Royal Bank of Canada started coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 target price on the stock. Wells Fargo & Company lowered 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. Finally, Citigroup lowered their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. One equities research 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 MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average 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.