Adero Partners LLC Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

Adero Partners LLC decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,904 shares of the company’s stock after selling 589 shares during the quarter. Adero Partners LLC’s holdings in PepsiCo were worth $442,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PEP. Highline Wealth Partners LLC bought a new stake in PepsiCo during the third quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo during the 3rd quarter valued at approximately $31,000. Rakuten Securities Inc. lifted its holdings in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new position in PepsiCo in the 4th quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of PepsiCo in the third quarter worth $44,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PEP. TD Cowen cut their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley reduced their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $171.76.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $145.66 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $199.84 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.92 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The firm’s 50-day moving average is $152.49 and its 200 day moving average is $164.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. PepsiCo’s payout ratio is presently 79.94%.

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.