Bleakley Financial Group LLC Sells 4,845 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bleakley Financial Group LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 12.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 34,271 shares of the company’s stock after selling 4,845 shares during the quarter. Bleakley Financial Group LLC’s holdings in PepsiCo were worth $5,211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the third quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the third quarter worth $31,000. Rakuten Securities Inc. lifted its holdings in 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 last quarter. Bay Harbor Wealth Management LLC purchased a new position in PepsiCo in the 4th quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of PepsiCo during the 3rd quarter valued at $44,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $145.66 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The firm has a market capitalization of $199.84 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The firm has a 50 day moving average of $152.49 and a 200 day moving average of $164.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share 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 57.32% and a net margin of 10.18%. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. On average, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

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 issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.72%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analyst Ratings Changes

PEP has been the subject of several analyst reports. Royal Bank of Canada began coverage on shares of PepsiCo in a report on Tuesday. They issued a $172.00 price target for the company. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Citigroup cut their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $171.76.

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.