Summit Global Investments Has $523,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Summit Global Investments reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 74.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,439 shares of the company’s stock after selling 9,830 shares during the quarter. Summit Global Investments’ holdings in PepsiCo were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PEP. Tcfg Wealth Management LLC boosted its stake in shares of PepsiCo by 3.5% during the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock valued at $295,000 after purchasing an additional 66 shares during the period. Lincoln Capital LLC raised its holdings in PepsiCo by 0.4% during the 4th quarter. Lincoln Capital LLC now owns 16,808 shares of the company’s stock valued at $2,556,000 after buying an additional 70 shares during the last quarter. Marshall Financial Group LLC boosted its position in PepsiCo by 2.3% during the 4th quarter. Marshall Financial Group LLC now owns 3,128 shares of the company’s stock valued at $476,000 after buying an additional 70 shares during the period. Osprey Private Wealth LLC grew its holdings in PepsiCo by 0.5% in the 4th quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company’s stock worth $2,290,000 after acquiring an additional 70 shares during the last quarter. Finally, Michael S. Ryan Inc. raised its stake in shares of PepsiCo by 3.3% during the fourth quarter. Michael S. Ryan Inc. now owns 2,239 shares of the company’s stock valued at $340,000 after acquiring an additional 71 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays cut PepsiCo from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $168.00 to $156.00 in a research note on Tuesday, March 18th. Citigroup reduced their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. BNP Paribas dropped their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $169.88.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $146.45 on Tuesday. The company has a market capitalization of $200.86 billion, a PE ratio of 21.07, a PEG ratio of 3.09 and a beta of 0.52. The business has a fifty day moving average price of $149.08 and a 200-day moving average price of $158.73. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year 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.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the previous year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued 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 is Friday, March 7th. PepsiCo’s payout ratio is currently 77.99%.

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.