Kestra Investment Management LLC Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Kestra Investment Management LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,812 shares of the company’s stock after selling 290 shares during the period. Kestra Investment Management LLC’s holdings in PepsiCo were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter valued at approximately $28,000. Collier Financial bought a new position in PepsiCo in the 4th quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at $31,000. Rakuten Securities Inc. raised its position in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC bought a new stake in PepsiCo during the fourth quarter valued at $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PEP. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. HSBC lowered their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. UBS Group reduced their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Evercore ISI dropped their price target on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Trading Up 1.2 %

NASDAQ:PEP opened at $145.81 on Thursday. The firm has a market capitalization of $199.98 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.95 and a beta of 0.54. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The company has a fifty day moving average of $149.16 and a 200 day moving average of $162.60. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its 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 net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same period in the prior year, the business posted $1.78 earnings per share. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. On average, research analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. PepsiCo’s dividend payout ratio is presently 77.99%.

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.