Carlton Hofferkamp & Jenks Wealth Management LLC Sells 382 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Carlton Hofferkamp & Jenks Wealth Management LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,098 shares of the company’s stock after selling 382 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in PepsiCo were worth $1,617,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PEP. Empowered Funds LLC grew its position in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. grew its position in PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its position in PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after acquiring an additional 4,712 shares in the last quarter. Janus Henderson Group PLC grew its position in PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares in the last quarter. Finally, IHT Wealth Management LLC grew its position in PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

PEP has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Citigroup dropped 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 dropped their target price on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Finally, Morgan Stanley dropped their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $155.99 on Tuesday. The company has a market capitalization of $213.94 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 3.09 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 has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a 50 day moving average of $148.68 and a 200 day moving average of $161.33.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during 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%. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is presently 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.