Convergence Financial LLC Sells 157 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Convergence Financial LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,088 shares of the company’s stock after selling 157 shares during the quarter. Convergence Financial LLC’s holdings in PepsiCo were worth $470,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo during the 3rd quarter worth $28,000. Collier Financial purchased a new position in PepsiCo in the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo during the 4th quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the 3rd quarter worth approximately $31,000. Finally, Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Down 3.1 %

Shares of NASDAQ:PEP opened at $151.51 on Thursday. The firm has a market capitalization of $207.80 billion, a PE ratio of 21.80, a price-to-earnings-growth 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. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The firm has a fifty day moving average of $148.56 and a 200 day moving average of $161.80.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm posted $1.78 EPS. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal 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 issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio is currently 77.99%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PEP shares. HSBC lowered their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Barclays dropped their price target on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Morgan Stanley reduced their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.