Hardin Capital Partners LLC Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

Hardin Capital Partners LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,255 shares of the company’s stock after selling 365 shares during the quarter. Hardin Capital Partners LLC’s holdings in PepsiCo were worth $495,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Collier Financial acquired a new position in PepsiCo in the fourth quarter valued at $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo in the 4th quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the 3rd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC acquired a new position in PepsiCo during the fourth quarter worth approximately $34,000. Finally, Human Investing LLC purchased a new stake in PepsiCo in the fourth quarter valued at approximately $39,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP opened at $145.54 on Wednesday. The stock has a market capitalization of $199.61 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The business’s fifty day moving average price is $149.09 and its 200 day moving average price is $158.50. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm 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 dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

Analysts Set New Price Targets

A number of brokerages recently commented on PEP. Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Royal Bank of Canada initiated coverage on PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 target price on the stock. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, CICC Research reiterated a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.