Crewe Advisors LLC Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Crewe Advisors LLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,461 shares of the company’s stock after selling 534 shares during the period. Crewe Advisors LLC’s holdings in PepsiCo were worth $374,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its holdings in shares of PepsiCo by 15.8% during the 3rd quarter. AMF Tjanstepension AB now owns 293,824 shares of the company’s stock worth $50,016,000 after acquiring an additional 40,031 shares in the last quarter. Czech National Bank raised its stake in PepsiCo by 6.8% during the third quarter. Czech National Bank now owns 279,811 shares of the company’s stock valued at $47,582,000 after purchasing an additional 17,833 shares in the last quarter. Insight Wealth Strategies LLC bought a new position in PepsiCo during the third quarter valued at $633,000. Country Trust Bank grew its stake in shares of PepsiCo by 2.3% in the 3rd quarter. Country Trust Bank now owns 131,428 shares of the company’s stock worth $22,349,000 after buying an additional 2,960 shares in the last quarter. Finally, Reliant Investment Management LLC increased its holdings in shares of PepsiCo by 1.2% in the 3rd quarter. Reliant Investment Management LLC now owns 30,873 shares of the company’s stock worth $5,250,000 after buying an additional 361 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PEP shares. Piper Sandler assumed coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Wells Fargo & Company cut their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Morgan Stanley lowered their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Citigroup dropped their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $171.76.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $145.66 on Thursday. 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 12 month low of $141.51 and a 12 month high of $183.41. The stock’s fifty day moving average price is $152.49 and its 200-day moving average price is $164.53. The firm has a market cap of $199.84 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping 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 return on equity of 57.32% and a net margin of 10.18%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 EPS. On average, equities research analysts expect 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 will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. PepsiCo’s payout ratio is 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.