Carlton Hofferkamp & Jenks Wealth Management LLC Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Carlton Hofferkamp & Jenks Wealth Management LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,098 shares of the company’s stock after selling 382 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in PepsiCo were worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Collier Financial bought a new position in PepsiCo during the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo in the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. raised its position in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo in the 4th quarter worth approximately $30,000. Finally, Bay Harbor Wealth Management LLC bought a new position in shares of PepsiCo in the 4th quarter worth approximately $34,000. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PEP shares. Citigroup decreased their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Evercore ISI cut their price target on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Performance

PEP stock opened at $155.99 on Tuesday. The company has a market cap of $213.94 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock’s fifty day moving average price is $148.68 and its 200-day moving average price is $161.33.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business 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 $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.47%. PepsiCo’s dividend payout ratio is currently 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.