Balentine LLC Has $727,000 Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Balentine LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 49.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,781 shares of the company’s stock after selling 4,603 shares during the period. Balentine LLC’s holdings in PepsiCo were worth $727,000 as of its most recent SEC filing.

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

PepsiCo Trading Down 0.2 %

NASDAQ PEP opened at $144.35 on Tuesday. The stock has a 50-day moving average of $151.42 and a 200-day moving average of $164.06. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a market cap of $197.98 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) 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 firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter last year, the business earned $1.78 earnings per share. The business’s revenue was down .2% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. PepsiCo’s payout ratio is presently 77.99%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEP. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research report on Friday. Evercore ISI reduced their price objective on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. BNP Paribas dropped their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Morgan Stanley lowered their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $171.47.

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.