Notis McConarty Edward Sells 2,204 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Notis McConarty Edward lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,033 shares of the company’s stock after selling 2,204 shares during the period. Notis McConarty Edward’s holdings in PepsiCo were worth $1,221,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PEP. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo during the 4th quarter valued at about $28,000. Collier Financial bought a new stake in PepsiCo during the fourth quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the third quarter valued at approximately $31,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo in the fourth quarter worth $30,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo during the 4th quarter worth $30,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PEP stock opened at $146.61 on Friday. The stock’s fifty day simple moving average is $149.33 and its 200 day simple moving average is $157.21. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The firm has a market cap of $201.05 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 3.09 and a beta of 0.49. 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 (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Friday, March 7th. PepsiCo’s payout ratio is currently 77.99%.

Analyst Ratings Changes

PEP has been the subject of a number of research analyst reports. 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. Barclays lowered PepsiCo from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $168.00 to $156.00 in a report on Tuesday, March 18th. Wells Fargo & Company cut their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. BNP Paribas lowered their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average 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.