Blue Chip Partners LLC Has $9.22 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Blue Chip Partners LLC trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.5% during the fourth quarter, Holdings Channel reports. The fund owned 60,620 shares of the company’s stock after selling 7,107 shares during the quarter. Blue Chip Partners LLC’s holdings in PepsiCo were worth $9,218,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at $28,000. Collier Financial bought a new position in PepsiCo during the fourth quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the 3rd quarter valued at $31,000. Rakuten Securities Inc. lifted its holdings in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the period. Finally, Bay Harbor Wealth Management LLC acquired a new stake in shares of PepsiCo during the 4th quarter valued at about $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of PEP stock opened at $143.39 on Monday. The company has a market capitalization of $196.66 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company’s 50 day moving average price is $149.80 and its two-hundred day moving average price is $163.06. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts expect that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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 dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PEP shares. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Citigroup decreased their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. HSBC cut their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $171.47.

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.