Bruce G. Allen Investments LLC Sells 586 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bruce G. Allen Investments LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 33.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,154 shares of the company’s stock after selling 586 shares during the period. Bruce G. Allen Investments LLC’s holdings in PepsiCo were worth $175,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Global Wealth Strategies & Associates increased its position in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in PepsiCo in the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the third quarter valued at about $31,000. Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the second quarter worth about $34,000. Finally, Rakuten Securities Inc. raised its position in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

Shares of PepsiCo stock traded down $3.52 during trading on Friday, hitting $143.02. 6,919,959 shares of the company’s stock traded hands, compared to its average volume of 6,730,728. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The business has a 50-day simple moving average of $157.81 and a 200-day simple moving average of $166.68. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock has a market capitalization of $196.22 billion, a P/E ratio of 21.09, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the business posted $2.25 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.79%. PepsiCo’s payout ratio is presently 79.94%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEP. Wells Fargo & Company lowered their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday. Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Royal Bank of Canada cut their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Finally, TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $180.64.

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.