Perennial Investment Advisors LLC Sells 392 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Perennial Investment Advisors LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,747 shares of the company’s stock after selling 392 shares during the quarter. Perennial Investment Advisors LLC’s holdings in PepsiCo were worth $1,482,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in PepsiCo during the 4th quarter valued at $2,729,565,000. Raymond James Financial Inc. bought a new position in shares of PepsiCo during the 4th quarter worth about $589,307,000. Charles Schwab Investment Management Inc. lifted its stake 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 buying an additional 3,856,193 shares during the period. Franklin Resources Inc. grew its position in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after acquiring an additional 1,376,133 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PEP shares. TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. BNP Paribas decreased their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Evercore ISI cut their price target on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Finally, Barclays lowered PepsiCo from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $168.00 to $156.00 in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $169.88.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $146.61 on Friday. The firm has a 50 day simple moving average of $149.33 and a 200 day simple moving average of $157.21. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The firm has a market cap of $201.05 billion, a P/E ratio of 21.09, a P/E/G ratio of 3.09 and a beta of 0.49.

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

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

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.