Cutter & CO Brokerage Inc. Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Cutter & CO Brokerage Inc. trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,751 shares of the company’s stock after selling 1,412 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in PepsiCo were worth $2,395,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Richard Bernstein Advisors LLC acquired a new position in shares of PepsiCo in the fourth quarter worth about $3,116,000. Lake Street Advisors Group LLC raised its position in shares of PepsiCo by 35.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 21,854 shares of the company’s stock worth $3,354,000 after acquiring an additional 5,750 shares during the period. Kirtland Hills Capital Management LLC raised its position in shares of PepsiCo by 35.1% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 5,910 shares of the company’s stock worth $899,000 after acquiring an additional 1,535 shares during the period. Pinnacle West Asset Management Inc. raised its position in shares of PepsiCo by 4.8% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 5,830 shares of the company’s stock worth $887,000 after acquiring an additional 265 shares during the period. Finally, Illinois Municipal Retirement Fund raised its position in shares of PepsiCo by 8.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 206,845 shares of the company’s stock worth $31,453,000 after acquiring an additional 16,783 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Up 1.7 %

Shares of NASDAQ PEP opened at $156.42 on Wednesday. The company has a 50 day simple moving average of $148.62 and a 200-day simple moving average of $161.87. The company has a market capitalization of $214.53 billion, a P/E ratio of 22.51, a P/E/G ratio of 3.09 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. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

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 analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 EPS. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.47%. PepsiCo’s dividend payout ratio is currently 77.99%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PEP shares. HSBC reduced their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Morgan Stanley reduced their price target 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. Finally, Evercore ISI reduced their price target on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $171.47.

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.