Principle Wealth Partners LLC Sells 2,565 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Principle Wealth Partners LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,419 shares of the company’s stock after selling 2,565 shares during the period. Principle Wealth Partners LLC’s holdings in PepsiCo were worth $4,473,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the third quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo in the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. raised its stake in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the last quarter. Bay Harbor Wealth Management LLC purchased a new position in shares of PepsiCo in the 4th quarter worth $34,000. Finally, ORG Wealth Partners LLC purchased a new stake in PepsiCo during the third quarter valued at $44,000. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PEP. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. HSBC cut their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Barclays dropped their price target on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company decreased their target price on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $144.35 on Tuesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82. The firm has a market cap of $197.98 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 2.89 and a beta of 0.54. The firm has a fifty day moving average price of $151.42 and a 200 day moving average price of $164.06. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 earnings per share. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.34 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. Investors of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.75%. The ex-dividend date 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.