Baxter Bros Inc. Trims Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Baxter Bros Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.7% in the fourth quarter, Holdings Channel reports. The fund owned 19,140 shares of the company’s stock after selling 1,830 shares during the period. Baxter Bros Inc.’s holdings in PepsiCo were worth $2,910,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PEP. Bay Capital Advisors LLC purchased a new position in PepsiCo in the fourth quarter worth approximately $582,000. Potentia Wealth purchased a new position in shares of PepsiCo during the 4th quarter worth $260,000. PKS Advisory Services LLC purchased a new stake in PepsiCo in the 4th quarter valued at about $228,000. Syverson Strege & Co lifted its position in PepsiCo by 24.2% in the fourth quarter. Syverson Strege & Co now owns 1,497 shares of the company’s stock valued at $228,000 after buying an additional 292 shares during the last quarter. Finally, First American Trust FSB boosted its stake in PepsiCo by 55.1% during the fourth quarter. First American Trust FSB now owns 7,263 shares of the company’s stock worth $1,105,000 after buying an additional 2,580 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.7 %

NASDAQ:PEP opened at $146.45 on Tuesday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The stock’s 50 day simple moving average is $149.08 and its 200-day simple moving average is $158.73. The firm has a market cap of $200.86 billion, a P/E ratio of 21.07, a PEG ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.70%. PepsiCo’s payout ratio is currently 77.99%.

Analysts Set New Price Targets

Several equities analysts have recently commented on PEP shares. Royal Bank of Canada initiated coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price objective on the stock. Wells Fargo & Company decreased their price target 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. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.88.

About PepsiCo

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.