Crestwood Advisors Group LLC Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Crestwood Advisors Group LLC lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,776 shares of the company’s stock after selling 1,216 shares during the period. Crestwood Advisors Group LLC’s holdings in PepsiCo were worth $11,371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RWC Asset Management LLP increased its position in shares of PepsiCo by 4.3% in the fourth quarter. RWC Asset Management LLP now owns 212,793 shares of the company’s stock worth $32,357,000 after acquiring an additional 8,752 shares in the last quarter. Waverton Investment Management Ltd boosted its position in PepsiCo by 7.2% during the 4th quarter. Waverton Investment Management Ltd now owns 274,611 shares of the company’s stock worth $41,756,000 after purchasing an additional 18,500 shares during the period. Roffman Miller Associates Inc. PA increased its holdings in PepsiCo by 1.0% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 244,645 shares of the company’s stock valued at $37,201,000 after purchasing an additional 2,402 shares in the last quarter. Mainstay Capital Management LLC ADV raised its position in PepsiCo by 28.8% in the fourth quarter. Mainstay Capital Management LLC ADV now owns 6,235 shares of the company’s stock valued at $948,000 after purchasing an additional 1,393 shares during the period. Finally, Conscious Wealth Investments LLC boosted its position in shares of PepsiCo by 2.4% in the fourth quarter. Conscious Wealth Investments LLC now owns 14,609 shares of the company’s stock worth $2,165,000 after buying an additional 340 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEP has been the topic of several analyst reports. HSBC dropped their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. Barclays decreased their target price on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Evercore ISI cut their price objective on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Finally, UBS Group lowered 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 investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Trading Up 3.0 %

Shares of NASDAQ PEP opened at $153.50 on Monday. The stock’s 50 day simple moving average is $148.66 and its 200 day simple moving average is $162.11. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The company has a market cap of $210.53 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. The company 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 firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the firm earned $1.78 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend 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.