Stone Summit Wealth LLC Sells 2,214 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Stone Summit Wealth LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,181 shares of the company’s stock after selling 2,214 shares during the quarter. PepsiCo comprises approximately 1.3% of Stone Summit Wealth LLC’s holdings, making the stock its 25th biggest position. Stone Summit Wealth LLC’s holdings in PepsiCo were worth $3,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB lifted its stake in shares of PepsiCo by 15.8% during the 3rd quarter. AMF Tjanstepension AB now owns 293,824 shares of the company’s stock valued at $50,016,000 after buying an additional 40,031 shares in the last quarter. Silverlake Wealth Management LLC lifted its position in shares of PepsiCo by 8.3% in the third quarter. Silverlake Wealth Management LLC now owns 2,547 shares of the company’s stock valued at $433,000 after acquiring an additional 196 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of PepsiCo by 4.1% in the third quarter. Ritholtz Wealth Management now owns 16,438 shares of the company’s stock worth $2,795,000 after acquiring an additional 647 shares during the period. Matrix Asset Advisors Inc. NY raised its stake in PepsiCo by 3.0% during the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 31,497 shares of the company’s stock valued at $5,356,000 after purchasing an additional 931 shares during the period. Finally, Annex Advisory Services LLC lifted its holdings in PepsiCo by 4.6% in the 3rd quarter. Annex Advisory Services LLC now owns 5,508 shares of the company’s stock worth $937,000 after purchasing an additional 243 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.5 %

PEP opened at $144.58 on Monday. 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 stock’s 50 day moving average price is $151.42 and its 200-day moving average price is $164.09. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The stock has a market cap of $198.29 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 3.75%. PepsiCo’s dividend payout ratio is currently 77.99%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PEP. Citigroup reduced their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a report on Friday. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Finally, Royal Bank of Canada began coverage on PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price objective on the stock. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.