Balentine LLC Sells 4,603 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Balentine LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 49.1% in the fourth quarter, HoldingsChannel reports. The firm owned 4,781 shares of the company’s stock after selling 4,603 shares during the quarter. Balentine LLC’s holdings in PepsiCo were worth $727,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in PepsiCo during the 3rd quarter valued at approximately $28,000. Collier Financial bought a new position in PepsiCo in the 4th quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the 3rd quarter valued at about $31,000. Rakuten Securities Inc. lifted its stake 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 shares of PepsiCo during the fourth quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

NASDAQ:PEP opened at $144.35 on Tuesday. The stock has a market capitalization of $197.98 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock’s 50-day moving average price is $151.42 and its 200-day moving average price is $164.06.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. As a group, equities analysts expect that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Analyst Ratings Changes

Several analysts have commented on PEP shares. Royal Bank of Canada began coverage on PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 target price on the stock. TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. BNP Paribas reduced their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Morgan Stanley dropped their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Wells Fargo & Company decreased their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus price target of $171.47.

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.