Tanager Wealth Management LLP Sells 561 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Tanager Wealth Management LLP cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 29.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,329 shares of the company’s stock after selling 561 shares during the period. Tanager Wealth Management LLP’s holdings in PepsiCo were worth $205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Highline Wealth Partners LLC bought a new position in PepsiCo in the third quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the third quarter worth approximately $31,000. Rakuten Securities Inc. boosted its holdings in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new position in PepsiCo in the fourth quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC bought a new position in PepsiCo in the third quarter worth approximately $44,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PEP has been the topic of several recent research reports. TD Cowen cut their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. BNP Paribas decreased their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Evercore ISI reduced their target price on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday. Finally, HSBC dropped their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average target price of $174.53.

PepsiCo Stock Performance

Shares of PEP opened at $143.49 on Wednesday. The firm has a market cap of $196.87 billion, a PE ratio of 21.16, a PEG ratio of 2.92 and a beta of 0.54. The stock’s fifty day moving average price is $152.86 and its two-hundred day moving average price is $164.71. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its 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 for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 earnings per share. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.78%. PepsiCo’s dividend payout ratio is 79.94%.

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.