Trinity Legacy Partners LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Trinity Legacy Partners LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,864 shares of the company’s stock after selling 768 shares during the period. Trinity Legacy Partners LLC’s holdings in PepsiCo were worth $1,196,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo during the third quarter valued at about $28,000. Collier Financial purchased a new stake in PepsiCo during the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo in the third quarter valued at approximately $31,000. Rakuten Securities Inc. increased its position in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth $30,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Evercore ISI reduced their target price on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Royal Bank of Canada started coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 target price for the company. Morgan Stanley decreased their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. TD Cowen dropped their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, UBS Group reduced their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $171.47.

PepsiCo Price Performance

NASDAQ:PEP opened at $149.10 on Friday. The stock has a market capitalization of $204.49 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 3.02 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 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock’s 50-day moving average price is $148.94 and its 200-day moving average price is $162.49.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 EPS. As a group, equities analysts expect that PepsiCo, Inc. will post 8.31 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio is presently 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.