Kestra Investment Management LLC Sells 290 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Kestra Investment Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 9.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,812 shares of the company’s stock after selling 290 shares during the period. Kestra Investment Management LLC’s holdings in PepsiCo were worth $428,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in PepsiCo in the third quarter worth about $28,000. Collier Financial bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo during the 3rd quarter valued at approximately $31,000. Rakuten Securities Inc. raised its stake in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC purchased a new stake in shares of PepsiCo in the fourth quarter worth $34,000. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PEP. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Finally, Citigroup lowered their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Trading Up 1.2 %

NASDAQ:PEP opened at $145.81 on Thursday. The firm has a market capitalization of $199.98 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The business has a fifty day moving average price of $149.16 and a 200-day moving average price of $162.60. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last posted 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. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. Sell-side analysts forecast that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.72%. PepsiCo’s payout ratio is 77.99%.

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.