Castle Wealth Management LLC Sells 207 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Castle Wealth Management LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,169 shares of the company’s stock after selling 207 shares during the quarter. Castle Wealth Management LLC’s holdings in PepsiCo were worth $333,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC boosted its stake in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares in the last quarter. Franklin Resources Inc. boosted its stake in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in PepsiCo by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after buying an additional 313,468 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.1 %

Shares of NASDAQ:PEP opened at $143.99 on Thursday. The stock has a 50 day moving average of $150.73 and a 200 day moving average of $163.68. The company has a market cap of $197.48 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during 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 firm’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 EPS. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid 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 3.76%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Analyst Ratings Changes

PEP has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Morgan Stanley decreased their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. BNP Paribas decreased their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada initiated coverage on PepsiCo in a research report on Tuesday, February 4th. They issued a $172.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average target price 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.