PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 52,544 shares of the company’s stock after selling 3,543 shares during the period. FineMark National Bank & Trust’s holdings in PepsiCo were worth $7,990,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PEP. Ashton Thomas Securities LLC raised its position in shares of PepsiCo by 249.2% during the 4th quarter. Ashton Thomas Securities LLC now owns 8,240 shares of the company’s stock worth $1,258,000 after acquiring an additional 5,880 shares in the last quarter. Modern Wealth Management LLC raised its holdings in PepsiCo by 69.5% during the fourth quarter. Modern Wealth Management LLC now owns 12,219 shares of the company’s stock worth $1,764,000 after purchasing an additional 5,009 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of PepsiCo during the 4th quarter worth approximately $1,113,000. ICW Investment Advisors LLC grew its position in shares of PepsiCo by 0.8% in the 4th quarter. ICW Investment Advisors LLC now owns 21,072 shares of the company’s stock valued at $3,204,000 after buying an additional 159 shares during the last quarter. Finally, TAGStone Capital Inc. raised its stake in PepsiCo by 2.8% during the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PEP shares. Barclays lowered PepsiCo from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $168.00 to $156.00 in a report on Tuesday, March 18th. Evercore ISI dropped their price target on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Morgan Stanley reduced their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Finally, Wells Fargo & Company decreased their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $169.88.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $146.45 on Tuesday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a 50-day moving average price of $149.08 and a 200 day moving average price of $158.73. The company has a market cap of $200.86 billion, a P/E ratio of 21.07, a PEG ratio of 3.09 and a beta of 0.52. 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 (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 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. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. Research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. 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 3.70%. PepsiCo’s dividend payout ratio is presently 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.