3Chopt Investment Partners LLC Sells 779 Shares of PepsiCo, Inc. (NASDAQ:PEP)

3Chopt Investment Partners LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,934 shares of the company’s stock after selling 779 shares during the period. 3Chopt Investment Partners LLC’s holdings in PepsiCo were worth $1,828,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tcfg Wealth Management LLC boosted its holdings in PepsiCo by 3.5% in the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock valued at $295,000 after purchasing an additional 66 shares in the last quarter. Lincoln Capital LLC raised its position in PepsiCo by 0.4% in the fourth quarter. Lincoln Capital LLC now owns 16,808 shares of the company’s stock worth $2,556,000 after acquiring an additional 70 shares in the last quarter. Marshall Financial Group LLC grew its stake in shares of PepsiCo by 2.3% during the 4th quarter. Marshall Financial Group LLC now owns 3,128 shares of the company’s stock worth $476,000 after purchasing an additional 70 shares during the period. Osprey Private Wealth LLC boosted its holdings in PepsiCo by 0.5% during the fourth quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company’s stock worth $2,290,000 after buying an additional 70 shares in the last quarter. Finally, TAGStone Capital Inc. lifted its position in shares of PepsiCo by 2.8% during the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock valued at $388,000 after acquiring an additional 70 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $144.43 on Friday. PepsiCo, Inc. has a 12 month low of $138.33 and a 12 month high of $183.41. The company has a fifty day moving average price of $148.37 and a two-hundred day moving average price of $155.78. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company has a market cap of $198.06 billion, a PE ratio of 20.78, a P/E/G ratio of 3.09 and a beta of 0.49.

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

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Analyst Ratings Changes

A number of analysts have commented on PEP shares. Citigroup decreased their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada began coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $169.88.

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.