Sunburst Financial Group LLC Sells 249 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sunburst Financial Group LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,575 shares of the company’s stock after selling 249 shares during the quarter. Sunburst Financial Group LLC’s holdings in PepsiCo were worth $848,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo in the third quarter valued at about $28,000. Collier Financial bought a new stake in PepsiCo during the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. boosted its stake in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the period. Finally, Bay Harbor Wealth Management LLC purchased a new stake in PepsiCo during the 4th quarter valued at approximately $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PEP shares. TD Cowen dropped their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Evercore ISI dropped their price objective on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Barclays reduced their target price on PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company reduced their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One equities research 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’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Trading Up 0.4 %

PEP opened at $144.58 on Friday. 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 stock’s 50 day moving average price is $150.41 and its 200-day moving average price is $163.54. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The stock has a market cap of $198.29 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the company posted $1.78 EPS. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.75%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

PepsiCo Company 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.