Townsend Asset Management Corp NC ADV Sells 467 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Townsend Asset Management Corp NC ADV lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 15.9% in the 4th quarter, HoldingsChannel reports. The firm owned 2,476 shares of the company’s stock after selling 467 shares during the quarter. Townsend Asset Management Corp NC ADV’s holdings in PepsiCo were worth $377,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PEP. Collier Financial bought a new position in shares of PepsiCo in the 4th quarter worth $28,000. Creative Capital Management Investments LLC purchased a new position in PepsiCo in the fourth quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the third quarter worth about $31,000. Rakuten Securities Inc. boosted its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC purchased a new position in shares of PepsiCo in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PEP shares. Wells Fargo & Company lowered their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. BNP Paribas decreased their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Finally, CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Trading Down 0.2 %

Shares of NASDAQ:PEP opened at $153.88 on Thursday. The company has a market capitalization of $211.05 billion, a PE ratio of 22.14, a PEG ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The business has a 50 day moving average of $148.73 and a two-hundred day moving average of $161.14. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last announced 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 net margin of 10.43% and a return on equity of 58.87%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 earnings per share. As a group, analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is currently 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.