PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Everhart Financial Group Inc.

Everhart Financial Group Inc. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,563 shares of the company’s stock after selling 1,957 shares during the quarter. Everhart Financial Group Inc.’s holdings in PepsiCo were worth $998,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AMF Tjanstepension AB grew its position in shares of PepsiCo by 15.8% in the 3rd quarter. AMF Tjanstepension AB now owns 293,824 shares of the company’s stock worth $50,016,000 after acquiring an additional 40,031 shares in the last quarter. Swedbank AB grew its position in shares of 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 acquiring an additional 1,592,343 shares in the last quarter. Marshall Financial Group LLC acquired a new position in shares of PepsiCo in the 3rd quarter worth approximately $520,000. Secure Asset Management LLC grew its position in shares of PepsiCo by 58.9% in the 3rd quarter. Secure Asset Management LLC now owns 2,691 shares of the company’s stock worth $458,000 after acquiring an additional 997 shares in the last quarter. Finally, Howard Capital Management Group LLC lifted its holdings in shares of PepsiCo by 2.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.8 %

PEP opened at $143.39 on Friday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82. The stock’s fifty day moving average is $149.80 and its 200-day moving average is $163.20. The company has a market capitalization of $196.66 billion, a PE ratio of 20.63, a P/E/G ratio of 2.89 and a beta of 0.54.

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 analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Analysts Set New Price Targets

PEP has been the topic of several recent research reports. Morgan Stanley cut their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Wells Fargo & Company cut their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. UBS Group cut their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $171.47.

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.