Tanager Wealth Management LLP Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Tanager Wealth Management LLP reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 29.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,329 shares of the company’s stock after selling 561 shares during the period. Tanager Wealth Management LLP’s holdings in PepsiCo were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Bay Harbor Wealth Management LLC purchased a new position in shares of PepsiCo during the 4th quarter valued at $34,000. E. Ohman J or Asset Management AB grew its position in PepsiCo by 12.5% in the fourth quarter. E. Ohman J or Asset Management AB now owns 62,550 shares of the company’s stock worth $9,511,000 after acquiring an additional 6,940 shares in the last quarter. James J. Burns & Company LLC grew its position in PepsiCo by 15.0% in the fourth quarter. James J. Burns & Company LLC now owns 2,306 shares of the company’s stock worth $350,000 after acquiring an additional 300 shares in the last quarter. Newton One Investments LLC purchased a new position in PepsiCo in the fourth quarter worth $92,000. Finally, Welch Group LLC grew its position in PepsiCo by 0.9% in the fourth quarter. Welch Group LLC now owns 315,840 shares of the company’s stock worth $47,919,000 after acquiring an additional 2,729 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PEP shares. TD Cowen cut their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada started coverage on shares of PepsiCo in a research report on Tuesday. They issued a $172.00 target price for the company. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Barclays cut their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Wells Fargo & Company cut their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and an average price target of $174.53.

PepsiCo Stock Performance

Shares of PEP opened at $143.49 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a 50-day simple moving average of $152.86 and a two-hundred day simple moving average of $164.71. The firm has a market capitalization of $196.87 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same period last year, the business posted $1.78 earnings per share. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

PepsiCo 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.