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

Convergence Financial LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the period. Franklin Resources Inc. increased its position in PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Swedbank AB raised its holdings in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of PepsiCo by 360.0% in the 4th quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock worth $258,158,000 after purchasing an additional 1,328,672 shares during the period. Finally, Vontobel Holding Ltd. boosted its stake in shares of PepsiCo by 62.4% during the 4th quarter. Vontobel Holding Ltd. now owns 3,014,101 shares of the company’s stock valued at $458,324,000 after purchasing an additional 1,157,835 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 target price on the stock. HSBC lowered their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Evercore ISI cut their price objective on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $171.47.

PepsiCo Trading Down 3.1 %

PepsiCo stock opened at $151.51 on Thursday. The business has a 50-day simple moving average of $148.56 and a two-hundred day simple moving average of $161.80. The company has a market cap of $207.80 billion, a P/E ratio of 21.80, a P/E/G ratio of 3.09 and a beta of 0.54. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last released 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. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 3.58%. PepsiCo’s dividend payout ratio (DPR) is presently 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.