PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,985 shares of the company’s stock after selling 1,442 shares during the period. Legacy Financial Advisors Inc.’s holdings in PepsiCo were worth $1,214,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Collier Financial acquired a new stake in shares of PepsiCo in the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC purchased a new stake in shares of PepsiCo during the fourth quarter worth about $28,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo in the fourth quarter worth about $30,000. Prudent Man Investment Management Inc. acquired a new position in PepsiCo in the fourth quarter valued at approximately $30,000. Finally, Summit Securities Group LLC acquired a new position in PepsiCo in the fourth quarter valued at approximately $33,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Evercore ISI cut their target price on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. BNP Paribas dropped their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. HSBC decreased their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, TD Cowen decreased their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $169.88.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $145.59 on Thursday. The business’s 50 day moving average price is $148.47 and its 200 day moving average price is $156.13. The firm has a market cap of $199.65 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a 52 week low of $138.33 and a 52 week high of $183.41. The company has a quick ratio of 0.65, 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 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion during 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 business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 EPS. On average, sell-side analysts expect 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 was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo’s payout ratio is currently 77.99%.

About PepsiCo

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.