Principle Wealth Partners LLC Sells 2,565 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Principle Wealth Partners LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 29,419 shares of the company’s stock after selling 2,565 shares during the quarter. Principle Wealth Partners LLC’s holdings in PepsiCo were worth $4,473,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo in the third quarter worth about $31,000. Rakuten Securities Inc. boosted its position in shares of 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 period. Bay Harbor Wealth Management LLC bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of PepsiCo during the 3rd quarter worth approximately $44,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $144.35 on Tuesday. The company has a 50 day moving average of $151.42 and a two-hundred day moving average of $164.06. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a market cap of $197.98 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced 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 return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the previous year, the business earned $1.78 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. As a group, analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. TD Cowen reduced their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Barclays dropped their target price on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Citigroup decreased their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Finally, CICC Research restated a “market perform” rating on shares of PepsiCo in a report on Friday. One 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.