PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Rodgers Brothers Inc.

Rodgers Brothers Inc. lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 34,355 shares of the company’s stock after selling 335 shares during the quarter. Rodgers Brothers Inc.’s holdings in PepsiCo were worth $5,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Collier Financial purchased a new stake in PepsiCo during the 4th quarter worth $28,000. WealthTrak Capital Management LLC purchased a new stake in shares of PepsiCo in the fourth quarter worth about $28,000. Creative Capital Management Investments LLC purchased a new stake in shares of PepsiCo during the 4th quarter valued at about $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PepsiCo during the 4th quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in PepsiCo during the 3rd quarter worth approximately $31,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Evercore ISI dropped their price objective on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. BNP Paribas lowered their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. TD Cowen lowered their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays cut PepsiCo from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $168.00 to $156.00 in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $169.88.

PepsiCo Trading Down 0.3 %

PepsiCo stock opened at $149.27 on Monday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm’s 50-day moving average is $149.25 and its 200-day moving average is $157.91. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market cap of $204.72 billion, a P/E ratio of 21.48, a PEG ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the company posted $1.78 earnings per share. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share 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 is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.63%. PepsiCo’s payout ratio is currently 77.99%.

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.