Weaver Capital Management LLC Sells 1,681 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Weaver Capital Management LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 18.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,241 shares of the company’s stock after selling 1,681 shares during the period. Weaver Capital Management LLC’s holdings in PepsiCo were worth $1,101,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the third quarter worth about $31,000. Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% in the third 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. Bay Harbor Wealth Management LLC purchased a new stake in PepsiCo in the fourth quarter worth about $34,000. Finally, ORG Wealth Partners LLC purchased a new stake in PepsiCo in the third quarter worth about $44,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

PEP stock opened at $143.49 on Wednesday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a fifty day simple moving average of $152.86 and a two-hundred day simple moving average of $164.71. The firm has a market capitalization of $196.87 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the business earned $1.78 EPS. The business’s revenue was down .2% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analysts Set New Price Targets

PEP has been the topic of a number of recent research reports. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of 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 upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $174.53.

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.