Legend Financial Advisors Inc. Sells 616 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Legend Financial Advisors Inc. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 46.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 711 shares of the company’s stock after selling 616 shares during the quarter. Legend Financial Advisors Inc.’s holdings in PepsiCo were worth $108,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC raised its holdings in shares of PepsiCo by 8,835.5% in the 2nd quarter. Strategic Financial Concepts LLC now owns 116,608 shares of the company’s stock worth $192,000 after buying an additional 115,303 shares in the last quarter. Oak Thistle LLC acquired a new stake in PepsiCo during the 2nd quarter valued at $574,000. Quest Partners LLC lifted its position in shares of PepsiCo by 44.8% during the second quarter. Quest Partners LLC now owns 6,665 shares of the company’s stock worth $1,099,000 after purchasing an additional 2,063 shares in the last quarter. Moser Wealth Advisors LLC lifted its holdings in PepsiCo by 3.5% during the 2nd quarter. Moser Wealth Advisors LLC now owns 9,121 shares of the company’s stock worth $1,504,000 after buying an additional 305 shares in the last quarter. Finally, PFG Investments LLC raised its position in shares of PepsiCo by 2.1% during the second quarter. PFG Investments LLC now owns 56,112 shares of the company’s stock worth $9,254,000 after acquiring an additional 1,151 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PEP shares. Bank of America dropped their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday. They issued an “overweight” rating and a $171.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $182.29.

PepsiCo Stock Down 0.6 %

Shares of NASDAQ:PEP traded down $0.87 during trading on Tuesday, hitting $145.40. 7,468,356 shares of the company were exchanged, compared to its average volume of 6,753,714. The stock has a market cap of $199.49 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 2.94 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a fifty-two week low of $145.34 and a fifty-two week high of $183.41. The firm has a fifty day moving average price of $159.04 and a two-hundred day moving average price of $167.12.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $2.25 EPS. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm 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. This represents a $5.42 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 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.