NewEdge Advisors LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

NewEdge Advisors LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 194,683 shares of the company’s stock after selling 2,620 shares during the quarter. NewEdge Advisors LLC’s holdings in PepsiCo were worth $29,603,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Collier Financial purchased a new position in shares of PepsiCo in the 4th quarter valued at about $28,000. WealthTrak Capital Management LLC acquired a new position in PepsiCo during the fourth quarter worth about $28,000. Creative Capital Management Investments LLC purchased a new position in PepsiCo in the fourth quarter valued at about $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PepsiCo during the 4th quarter worth approximately $30,000. Finally, Summit Securities Group LLC purchased a new position in PepsiCo in the 4th quarter valued at approximately $33,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Down 1.9 %

Shares of PEP stock opened at $140.09 on Thursday. PepsiCo, Inc. has a 1-year low of $138.33 and a 1-year high of $183.41. The firm’s 50-day simple moving average is $148.25 and its 200-day simple moving average is $155.32. The firm has a market cap of $192.11 billion, a P/E ratio of 20.16, a PEG ratio of 3.09 and a beta of 0.49. 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 announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business earned $1.78 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.87%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEP. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. TD Cowen lowered their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Finally, Barclays downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $168.00 to $156.00 in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $168.12.

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.