Cassia Capital Partners LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Cassia Capital Partners LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 35.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,320 shares of the company’s stock after selling 1,833 shares during the period. Cassia Capital Partners LLC’s holdings in PepsiCo were worth $505,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cross Staff Investments Inc grew its holdings in PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after buying an additional 60 shares in the last quarter. Paulson Wealth Management Inc. grew its holdings in shares of PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after purchasing an additional 60 shares in the last quarter. LCM Capital Management Inc increased its position in PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after purchasing an additional 62 shares during the last quarter. Demars Financial Group LLC raised its stake in PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after purchasing an additional 62 shares in the last quarter. Finally, Sigma Investment Counselors Inc. lifted its position in PepsiCo by 1.6% during the third quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock valued at $733,000 after purchasing an additional 66 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Down 4.5 %

PEP opened at $143.49 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock’s fifty day moving average is $152.86 and its two-hundred day moving average is $164.71. The company has a market capitalization of $196.87 billion, a P/E ratio of 21.16, a PEG ratio of 2.92 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced 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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share 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 issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.78%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Analyst Ratings Changes

Several analysts have recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. UBS Group lowered their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. BNP Paribas cut their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday. Royal Bank of Canada started coverage on PepsiCo in a research report on Tuesday. They issued a $172.00 price target for the company. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $174.53.

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.