Summit Asset Management LLC Sells 133 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Summit Asset Management LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,419 shares of the company’s stock after selling 133 shares during the period. Summit Asset Management LLC’s holdings in PepsiCo were worth $1,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter worth approximately $28,000. Collier Financial purchased a new stake in shares of PepsiCo during the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter valued at approximately $31,000. Rakuten Securities Inc. boosted its stake in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. Finally, Creative Capital Management Investments LLC purchased a new stake in PepsiCo in the fourth quarter worth $30,000. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wells Fargo & Company lowered their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Morgan Stanley dropped their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Evercore ISI lowered their price objective on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Finally, UBS Group lowered their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. One investment 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Performance

NASDAQ PEP opened at $153.50 on Friday. The company has a market cap of $210.53 billion, a P/E ratio of 22.09, a P/E/G ratio of 3.09 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The business’s 50 day moving average price is $148.66 and its 200-day moving average price is $162.18. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 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. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio is 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.