Core Alternative Capital Sells 3,390 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Core Alternative Capital decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,107 shares of the company’s stock after selling 3,390 shares during the period. Core Alternative Capital’s holdings in PepsiCo were worth $6,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Cross Staff Investments Inc boosted its holdings in PepsiCo by 0.9% during the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after purchasing an additional 60 shares during the last quarter. Paulson Wealth Management Inc. boosted its stake in shares of PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after buying an additional 60 shares during the last quarter. LCM Capital Management Inc increased its position in shares of PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after acquiring an additional 62 shares during the last quarter. Demars Financial Group LLC lifted its holdings in PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after acquiring an additional 62 shares during the period. Finally, Sigma Investment Counselors Inc. grew its stake in PepsiCo by 1.6% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock valued at $733,000 after purchasing an additional 66 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PEP shares. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. HSBC reduced their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Down 0.2 %

Shares of NASDAQ:PEP opened at $144.35 on Tuesday. The firm has a fifty day moving average of $151.42 and a 200 day moving average of $164.06. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82. The firm has a market capitalization 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 posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 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 the consensus estimate of $27.89 billion. During the same period last year, the firm posted $1.78 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.34 EPS for the current fiscal 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 paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s 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.