Pittenger & Anderson Inc. Sells 6,596 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pittenger & Anderson Inc. trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,858 shares of the company’s stock after selling 6,596 shares during the quarter. Pittenger & Anderson Inc.’s holdings in PepsiCo were worth $12,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at about $28,000. Collier Financial acquired a new position in PepsiCo in the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the 3rd quarter valued at about $31,000. Rakuten Securities Inc. grew its stake in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC acquired a new position in PepsiCo in the 4th quarter valued at about $34,000. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PEP. HSBC decreased their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, UBS Group decreased their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $143.39 on Monday. The company has a market cap of $196.66 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.89 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $149.80 and a 200 day simple moving average of $163.13. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 earnings per share. Research analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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 paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is currently 77.99%.

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.