Sunburst Financial Group LLC Sells 249 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sunburst Financial Group LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,575 shares of the company’s stock after selling 249 shares during the period. Sunburst Financial Group LLC’s holdings in PepsiCo were worth $848,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth approximately $28,000. Collier Financial purchased a new position in PepsiCo during the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the third quarter worth $31,000. Rakuten Securities Inc. boosted its position in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC purchased a new position in shares of PepsiCo in the 4th quarter valued at $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $144.58 on Friday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market cap of $198.29 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.89 and a beta of 0.54. The business’s 50 day moving average price is $150.41 and its 200 day moving average price is $163.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating 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 company had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period last year, the business earned $1.78 earnings per share. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.75%. PepsiCo’s payout ratio is 77.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group decreased their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Morgan Stanley lowered their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada assumed coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price objective for the company. Citigroup lowered their target price 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 reaffirmed a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. One investment 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 currently has an average rating of “Hold” and a consensus price target of $171.47.

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.