Wellspring Financial Advisors LLC Sells 517 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Wellspring Financial Advisors LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 19.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,178 shares of the company’s stock after selling 517 shares during the period. Wellspring Financial Advisors LLC’s holdings in PepsiCo were worth $331,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sierra Summit Advisors LLC raised its stake in shares of PepsiCo by 18.2% during the fourth quarter. Sierra Summit Advisors LLC now owns 2,718 shares of the company’s stock valued at $413,000 after acquiring an additional 419 shares during the last quarter. Federated Hermes Inc. raised its position in PepsiCo by 19.2% during the 4th quarter. Federated Hermes Inc. now owns 1,752,560 shares of the company’s stock worth $266,494,000 after purchasing an additional 282,071 shares during the last quarter. Clarkston Capital Partners LLC lifted its holdings in PepsiCo by 0.4% during the 4th quarter. Clarkston Capital Partners LLC now owns 181,624 shares of the company’s stock worth $27,618,000 after buying an additional 669 shares during the period. Ilmarinen Mutual Pension Insurance Co increased its stake in shares of PepsiCo by 33.7% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 196,500 shares of the company’s stock valued at $29,880,000 after buying an additional 49,500 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of PepsiCo by 26.9% during the fourth quarter. Russell Investments Group Ltd. now owns 1,687,231 shares of the company’s stock worth $256,511,000 after acquiring an additional 358,092 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $146.61 on Monday. The stock has a market cap of $201.05 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The firm’s 50-day simple moving average is $149.33 and its 200 day simple moving average is $156.94. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last announced its quarterly 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 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 the consensus estimate of $27.89 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. PepsiCo’s revenue was down .2% compared to the same quarter last year. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on PEP. Morgan Stanley decreased their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Citigroup lowered their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. BNP Paribas lowered their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. decreased their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $169.88.

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.