PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 14.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,959,440 shares of the company’s stock after selling 338,771 shares during the period. Alliancebernstein L.P.’s holdings in PepsiCo were worth $297,952,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Collier Financial purchased a new position in PepsiCo in the 4th quarter valued at approximately $28,000. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo in the 4th quarter valued at $28,000. Creative Capital Management Investments LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at about $30,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in PepsiCo in the third quarter valued at $31,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

NASDAQ PEP opened at $149.94 on Tuesday. The stock has a market capitalization of $205.64 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a 50 day moving average price of $149.28 and a two-hundred day moving average price of $157.72. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating 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 company had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the prior year, the business earned $1.78 earnings per share. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, March 7th. PepsiCo’s dividend payout ratio is 77.99%.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent research reports. Citigroup decreased their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. BNP Paribas lowered their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company reduced their target price on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada began coverage on shares of PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price target for the company. Finally, HSBC dropped their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $169.88.

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.