Centric Wealth Management Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Centric Wealth Management cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,743 shares of the company’s stock after selling 70 shares during the period. Centric Wealth Management’s holdings in PepsiCo were worth $417,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in shares of PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after purchasing an additional 870,451 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its holdings in PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after buying an additional 4,712 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after buying an additional 34,633 shares during the period. IHT Wealth Management LLC boosted its position in shares of PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after acquiring an additional 5,220 shares during the period. Finally, Guinness Asset Management LTD grew its stake in PepsiCo by 5.2% during the fourth quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company’s stock valued at $188,031,000 after acquiring an additional 61,541 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PEP. BNP Paribas cut 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. Evercore ISI dropped their price objective on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company cut their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $169.88.

PepsiCo Trading Up 0.4 %

NASDAQ PEP opened at $149.94 on Tuesday. The stock has a 50-day moving average of $149.28 and a 200-day moving average of $157.72. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a market cap of $205.64 billion, a PE ratio of 21.57, a price-to-earnings-growth 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 the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter last year, the business earned $1.78 earnings per share. The business’s revenue was down .2% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.61%. PepsiCo’s dividend payout ratio is presently 77.99%.

PepsiCo 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.