PepsiCo, Inc. (NASDAQ:PEP) Stock Position Trimmed by Altus Wealth Group LLC

Altus Wealth Group LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,308 shares of the company’s stock after selling 279 shares during the period. Altus Wealth Group LLC’s holdings in PepsiCo were worth $959,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp lifted its holdings in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Geode Capital Management LLC lifted its stake in shares of PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after acquiring an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in PepsiCo by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after purchasing an additional 689,383 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PEP shares. Evercore ISI dropped their price objective on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Royal Bank of Canada began coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 target price on the stock. Barclays raised their target price on shares of PepsiCo from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Finally, Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $171.00 to $170.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $170.59.

PepsiCo Price Performance

NASDAQ PEP opened at $148.59 on Friday. The company has a 50 day simple moving average of $148.76 and a 200-day simple moving average of $159.99. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The firm has a market capitalization of $203.79 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the business posted $1.78 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

PepsiCo 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.