Evoke Wealth LLC Sells 1,917 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Evoke Wealth LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 50,628 shares of the company’s stock after selling 1,917 shares during the quarter. Evoke Wealth LLC’s holdings in PepsiCo were worth $7,767,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Collier Financial purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the third quarter worth $31,000. Bay Harbor Wealth Management LLC bought a new position in PepsiCo in the fourth quarter worth $34,000. Finally, Human Investing LLC purchased a new position in PepsiCo during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PEP. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. BNP Paribas dropped their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Evercore ISI cut their target price on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Finally, Piper Sandler began coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $170.59.

PepsiCo Stock Performance

Shares of PEP opened at $151.34 on Tuesday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The business has a fifty day moving average of $148.86 and a 200 day moving average of $159.75. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The firm has a market capitalization of $207.56 billion, a P/E ratio of 21.78, a PEG ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 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 analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

PepsiCo 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.