Castle Wealth Management LLC Sells 207 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Castle Wealth Management LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,169 shares of the company’s stock after selling 207 shares during the quarter. Castle Wealth Management LLC’s holdings in PepsiCo were worth $333,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cross Staff Investments Inc raised its stake in shares of PepsiCo by 0.9% during the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after acquiring an additional 60 shares in the last quarter. Paulson Wealth Management Inc. raised its stake in shares of PepsiCo by 2.1% during the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after acquiring an additional 60 shares in the last quarter. LCM Capital Management Inc raised its stake in shares of PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after acquiring an additional 62 shares in the last quarter. Demars Financial Group LLC raised its stake in shares of PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after acquiring an additional 62 shares in the last quarter. Finally, Sigma Investment Counselors Inc. raised its stake in shares of PepsiCo by 1.6% during the third quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock worth $733,000 after acquiring an additional 66 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Evercore ISI decreased their price target on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. 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 note on Wednesday, January 22nd. Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Finally, Morgan Stanley decreased their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Performance

NASDAQ:PEP opened at $143.99 on Thursday. The stock has a market cap of $197.48 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The firm’s fifty day simple moving average is $150.73 and its 200 day simple moving average is $163.68. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter in the previous year, the business posted $1.78 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. As a group, research analysts predict that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 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.