PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 16.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,275 shares of the company’s stock after selling 2,770 shares during the period. Beach Investment Counsel Inc. PA’s holdings in PepsiCo were worth $2,171,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bay Harbor Wealth Management LLC acquired a new position in PepsiCo in the fourth quarter worth approximately $34,000. E. Ohman J or Asset Management AB boosted its position in PepsiCo by 12.5% during the fourth quarter. E. Ohman J or Asset Management AB now owns 62,550 shares of the company’s stock worth $9,511,000 after purchasing an additional 6,940 shares during the period. James J. Burns & Company LLC boosted its position in PepsiCo by 15.0% during the fourth quarter. James J. Burns & Company LLC now owns 2,306 shares of the company’s stock worth $350,000 after purchasing an additional 300 shares during the period. Newton One Investments LLC bought a new stake in PepsiCo during the fourth quarter worth approximately $92,000. Finally, Welch Group LLC boosted its position in PepsiCo by 0.9% during the fourth quarter. Welch Group LLC now owns 315,840 shares of the company’s stock worth $47,919,000 after purchasing an additional 2,729 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $172.00 price objective on shares of PepsiCo in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $176.73.

PepsiCo Stock Down 1.9 %

Shares of PepsiCo stock opened at $147.38 on Tuesday. The business’s 50 day simple moving average is $153.12 and its 200 day simple moving average is $164.85. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The firm has a market cap of $202.20 billion, a PE ratio of 21.73, a P/E/G ratio of 2.92 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. On average, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.68%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.